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Author : Paul W. Jack
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.:/5 (498 download)
Download or read book Public policy challenges regarding the changing U.S. retail payment system written by Paul W. Jack and published by . This book was released on 2002 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David B. Humphrey
Publisher : Springer Science & Business Media
ISBN 13 : 9400925107
Total Pages : 328 pages
Book Rating : 4.4/5 (9 download)
Download or read book The U.S. Payment System: Efficiency, Risk and the Role of the Federal Reserve written by David B. Humphrey and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. payment system is in the midst of a significant transition. Some of the changes to our payment system, involving its efficiency, the risks inherent in the payment process, and the role of the private and public sectors in the payment mechanism, are the subject of considerable debate and controversy. In recent years, the Federal Reserve Bank of Richmond has played an active part in the development and implementation of policies to improve the payment process. The Bank's operations staff has represented the Federal Reserve System in work with the banking industry to help shape and implement programs to increase efficiency and reduce payment risk. Further, our Research Department has made payment system research an important part of its agenda. The mix of practical experience and research has resulted in a unique perspective on payment system issues that led us to organize a symposium on the U.S. payment system, held on May 25-26, 1988, in Williamsburg, Virginia. Reflecting our belief in the importance of combining both practical experience and theory in addressing payment issues, we invited practi tioners, scholars, and policymakers to share their ideas. The symposium provided an opportunity for those researchers who are studying p- xi PREFACE xii ment issues to present their ideas and to have these ideas evaluated by experienced practitioners.
Author : World Bank
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (128 download)
Download or read book Governance of Retail Payment Systems written by World Bank and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As innovation in retail payments continues and the systems evolve, effective governance of them becomes more complicated and increases in importance. Retail payment systems are essential for the economy to function efficiently, and more and more, they are something on which all individuals rely on in order to participate in economic life. Effective governance arrangements of retail payment systems are critical not just for the stability, reliability, and efficiency of the financial system but also for its capacity to manage and respond to the changing policy and market environment. Governance calls for focused attention, and retail payment systems deserve and require distinct and specific guidance regarding governance. This is because issues related to retail payment system governance go beyond the typical corporate issues, precisely because of the underlying public interest and the broader public policy objectives of safety and efficiency. This paper provides context and considerations regarding the governance of retail payment systems within this changing environment. It provides examples of approaches specific to the governance of retail payment systems and the different factors that influence and guide them. It refers to related legal frameworks, principles, and reference materials that may be useful in conducting reviews. And it draws on and shares examples of the challenges, frameworks, and arrangements of specific countries and systems. The paper provides specific guidance for practical matters, such as the regular assessment and revision of governance arrangements, the importance of acknowledging public interest, maintaining access rules that are in line with market needs and developments, achieving and maintaining a high degree of transparency regarding governance, and in ensuring that the board and management have the right skills and knowledge. The paper concludes with several themes for consideration that will help authorities and other relevant stakeholders navigate the topic of governance for retail payment systems.
Author : David B. Humphrey
Publisher : Springer
ISBN 13 : 9789400925113
Total Pages : 301 pages
Book Rating : 4.9/5 (251 download)
Download or read book The U.S. Payment System: Efficiency, Risk and the Role of the Federal Reserve written by David B. Humphrey and published by Springer. This book was released on 2011-10-17 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. payment system is in the midst of a significant transition. Some of the changes to our payment system, involving its efficiency, the risks inherent in the payment process, and the role of the private and public sectors in the payment mechanism, are the subject of considerable debate and controversy. In recent years, the Federal Reserve Bank of Richmond has played an active part in the development and implementation of policies to improve the payment process. The Bank's operations staff has represented the Federal Reserve System in work with the banking industry to help shape and implement programs to increase efficiency and reduce payment risk. Further, our Research Department has made payment system research an important part of its agenda. The mix of practical experience and research has resulted in a unique perspective on payment system issues that led us to organize a symposium on the U.S. payment system, held on May 25-26, 1988, in Williamsburg, Virginia. Reflecting our belief in the importance of combining both practical experience and theory in addressing payment issues, we invited practi tioners, scholars, and policymakers to share their ideas. The symposium provided an opportunity for those researchers who are studying p- xi PREFACE xii ment issues to present their ideas and to have these ideas evaluated by experienced practitioners.
Author : Richard J. Sullivan
Publisher :
ISBN 13 : 9781422317433
Total Pages : 35 pages
Book Rating : 4.3/5 (174 download)
Download or read book Risk Management and Nonbank Participation in the U. S. Retail Payments System written by Richard J. Sullivan and published by . This book was released on 2007-09 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The retail payments system (RPS) in the U.S. has changed significantly in recent years. Advances in technology have caused a greater reliance on electronic payment networks. And the industrial structure of the RPS industry has evolved, as more & more non-banks deliver payment products to end users & supply back-end processing. In general, these changes have made the RPS more efficient & given more choices to consumers & more payment options to merchants & businesses. At the same time, however, the rapid pace of change has introduced new risks to the RPS. Sullivan lays the groundwork for a dialogue on policy to control risk in the U.S. RPS. He concludes that a thorough review of supervisory authority relevant to the RPS would be valuable.
Author : Stephen Millard
Publisher : Routledge
ISBN 13 : 1134071302
Total Pages : 287 pages
Book Rating : 4.1/5 (34 download)
Download or read book The Future of Payment Systems written by Stephen Millard and published by Routledge. This book was released on 2007-09-17 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on wide-ranging contributions from prominent international experts and discussing some of the most pressing issues facing policy makers and practitioners in the field of payment systems today, this volume provides cutting-edge perspectives on the current issues surrounding payment systems and their future. It covers a range of continually important topics, including: the form payment systems might take in the future the risks associated with this evolution the techniques being deployed to assess these risks and the implications these risks have for the respective roles of the public and private sector. Produced in association with the Bank of England, this book is fascinating reading for practitioners and policy makers in the field of payment systems, as well as students and researchers engaged with the economics of payments and central banking policy.
Author : Board of Governors of the Federal Reserve System
Publisher :
ISBN 13 : 9780894991967
Total Pages : 0 pages
Book Rating : 4.9/5 (919 download)
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author : Richard J. Sullivan
Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Supervisory Framework Surrounding Nonbank Participation in the U.S. Retail Payments System written by Richard J. Sullivan and published by . This book was released on 2013 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nonbank providers of payment services are important in the United States and appear to have become more prominent in recent years. This development, by itself, poses unique risks to the payments system. Associated with this change is a significant transformation in the mix of payment types away from checks and towards electronic payments, which introduces new risks to the payments system and potentially compounds the risks posed by increased reliance on nonbank providers of payment services. This paper reviews these recent developments in the retail payments system, discusses the associated risks, and presents an overview of the supervision of nonbank providers of payment services. Policies aimed at controlling risk in the retail payments system need to better address an increasing level of information asymmetries, externalities, and coordination problems. Policy tools such as standards setting, disclosure, clarifying legal responsibilities, and supervision can each play a role in improving control of payments system risk. To guide policy reforms, it would be useful to collect more information on the sources, extent and cost of disruptions to payment systems associated with nonbank payment providers.
Author : Kent W. Colton
Publisher : Springer Science & Business Media
ISBN 13 : 1468435787
Total Pages : 304 pages
Book Rating : 4.4/5 (684 download)
Download or read book Computers and Banking written by Kent W. Colton and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electronic funds transfer (EFT) systems include a wide range of computer-based payment systems and sources that substitute electronic and digital transfers for movements of cash and paper checks. A few years ago some people were predict ing that EFT would replace paper money and coins entirely and that we would soon be a "checkless" and' 'cashless" society. Such sweeping changes have not occurred, but a slower evolution is clearly underway. Although checks, cur rency, and coin are likely to be here for many years to come, EFT is becoming an established part of our worldwide payment transfer system, and the implications and consequences of this technology are real. They include: • Alterations in personal finance and in the process of purchasing and paying for consumer goods and services. • Changes in the structure of financial and retail organizations and their mode of interaction in the marketplace. • Modifications in the flow of funds in our society and in the interactions among economic institutions. • Alterations in the prospects for invasion of personal privacy, perpetration of fraud and theft, and violation of antitrust regulations. • Changes in the regulatory and competitive balance among the numerous financial institutions in the United States. Such alterations foretell important impacts on people and society. Benefits are forthcoming, but the costs will also be real.
Author : Bruce J. Summers
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (13 download)
Download or read book Facilitating Consumer Payment Innovation Through Changes in Clearing and Settlement written by Bruce J. Summers and published by . This book was released on 2014 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses concerns that the U.S. payment system is not keeping up with the rest of the digital economy in providing new methods of payment that give consumers immediate access to and use of their deposits held in accounts with banks and other deposit-taking institutions ("banks" for short). An international reference model is developed for an immediate funds transfer system that meets consumer needs in the digital economy. It is shown that despite a vision provided 35 years ago, and despite evidence of consumer demand dating back a decade or more, and notwithstanding successful commercial experience in a number of countries around the world, the U.S. payment system does not appear close to implementing immediate funds transfer capabilities. Governance issues appear to be the primary barrier to innovation in clearing and settlement that would support immediate completion of digital payments in the U.S. Four public policy recommendations are directed to the Federal Reserve, Treasury, and U.S. Congress that are action steps leading to upgraded payment services to consumers in the digital economy.
Author : Karen Furst
Publisher :
ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (13 download)
Download or read book Technological Innovation in Retail Payments written by Karen Furst and published by . This book was released on 2014 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States still has a heavily paper-based retail payment system when compared with many other developed economies, but the shift to electronic payments has been bigger and more decisive than commonly perceived. For the first time ever, check use declined in the mid-1990s, and among electronic payments the adoption of debit cards has occurred at an extremely rapid pace. The purpose of this article is to promote greater awareness of the nature of recent changes in retail payments in the United States, and to explore some of the key implications of those changes for the banking industry. We describe recent trends in retail payments, highlighting the surprising drop in check usage, and consider the impact of changes in retail payments on bank revenue and costs. We conclude that, although banks are likely to realize substantial long-run payments-related improvements in productivity, they face greater-than-commonly-appreciated near-term challenges.
Author : Mario Guadamillas
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4./5 ( download)
Download or read book Securities Clearance and Settlement Systems written by Mario Guadamillas and published by World Bank Publications. This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to assess securities clearance and settlement systems, based on international standards and best practices.
Author : Mr.Tobias Adrian
Publisher : International Monetary Fund
ISBN 13 : 1498324908
Total Pages : 20 pages
Book Rating : 4.4/5 (983 download)
Download or read book The Rise of Digital Money written by Mr.Tobias Adrian and published by International Monetary Fund. This book was released on 2019-07-15 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
Author : American Bar Association. House of Delegates
Publisher : American Bar Association
ISBN 13 : 9781590318737
Total Pages : 216 pages
Book Rating : 4.3/5 (187 download)
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author : Mr.Bruce J. Summers
Publisher : International Monetary Fund
ISBN 13 : 9781557753861
Total Pages : 232 pages
Book Rating : 4.7/5 (538 download)
Download or read book The Payment System written by Mr.Bruce J. Summers and published by International Monetary Fund. This book was released on 1994-12-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book makes a practical contribution to increased understanding of payment system design and management and of the relationship between the payment system and monetary policy. The authors of the twelve papers included in the book are central banking experts from around the world who draw on their experiences in providing technical assistance to the central banks of the countries of the former U.S.S.R.
Author : Institute of Medicine
Publisher : National Academies Press
ISBN 13 : 0309262011
Total Pages : 159 pages
Book Rating : 4.3/5 (92 download)
Download or read book The Role of Telehealth in an Evolving Health Care Environment written by Institute of Medicine and published by National Academies Press. This book was released on 2012-12-20 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1996, the Institute of Medicine (IOM) released its report Telemedicine: A Guide to Assessing Telecommunications for Health Care. In that report, the IOM Committee on Evaluating Clinical Applications of Telemedicine found telemedicine is similar in most respects to other technologies for which better evidence of effectiveness is also being demanded. Telemedicine, however, has some special characteristics-shared with information technologies generally-that warrant particular notice from evaluators and decision makers. Since that time, attention to telehealth has continued to grow in both the public and private sectors. Peer-reviewed journals and professional societies are devoted to telehealth, the federal government provides grant funding to promote the use of telehealth, and the private technology industry continues to develop new applications for telehealth. However, barriers remain to the use of telehealth modalities, including issues related to reimbursement, licensure, workforce, and costs. Also, some areas of telehealth have developed a stronger evidence base than others. The Health Resources and Service Administration (HRSA) sponsored the IOM in holding a workshop in Washington, DC, on August 8-9 2012, to examine how the use of telehealth technology can fit into the U.S. health care system. HRSA asked the IOM to focus on the potential for telehealth to serve geographically isolated individuals and extend the reach of scarce resources while also emphasizing the quality and value in the delivery of health care services. This workshop summary discusses the evolution of telehealth since 1996, including the increasing role of the private sector, policies that have promoted or delayed the use of telehealth, and consumer acceptance of telehealth. The Role of Telehealth in an Evolving Health Care Environment: Workshop Summary discusses the current evidence base for telehealth, including available data and gaps in data; discuss how technological developments, including mobile telehealth, electronic intensive care units, remote monitoring, social networking, and wearable devices, in conjunction with the push for electronic health records, is changing the delivery of health care in rural and urban environments. This report also summarizes actions that the U.S. Department of Health and Human Services (HHS) can undertake to further the use of telehealth to improve health care outcomes while controlling costs in the current health care environment.
Author : Wilko Bolt
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (838 download)
Download or read book Pricing in Retail Payment Systems written by Wilko Bolt and published by . This book was released on 2011 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
