Banking and Payments Research

Research staff analyze domestic and international payments systems as well as the banking industry.

Recent Articles

Research Working Paper

Defining Households That Are Underserved in Digital Payment Services

We consider four elements—access, use, safety, and affordability—in our definition of households underserved in digital payments.

Research Working Paper | Banking and Finance | Law and Economics | Payments
Economic Bulletin

Why Are Multifamily Property Prices Falling?

Price declines for multifamily properties may reflect investor pessimism, not just changes in housing market fundamentals.

Economic Bulletin | Housing | Banking and Finance
Payments System Research Briefing

The Role of Nonbanks and Fintechs in Boosting India’s UPI Person-to-Merchant Transactions

Nonbank and fintech services have helped expand the use of India’s instant payment system for person-to-merchant payments.

Payments System Research Briefing | Payments | Banking and Finance | International
Economic Bulletin

Considerations for the Longer-Run Maturity Composition of the Federal Reserve’s Treasury Portfolio

In the long run, policymakers may prefer to return to a shorter-duration Treasury portfolio like the Fed maintained before 2008.

Economic Bulletin | Monetary Policy | Banking and Finance
Economic Bulletin

Why Haven’t Recent Rate Increases Slowed the Economy More?

Low private-lending spreads may explain why borrowers haven’t been deterred by rate hikes.

Economic Bulletin | Monetary Policy | Banking and Finance
Economic Bulletin

Are Firms Hoarding Cash Post-Pandemic?

Firms are holding more cash now than before the pandemic, but their reasons for holding it remain the same.

Economic Bulletin | Banking and Finance | Macroeconomics