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The U.S. Payment System: Efficiency, Risk and the Role of the Federal Reserve - Proceedings of a Symposium on the U.S. Payment System sponsored by the Federal Reserve Bank of Richmond (Hardcover, 1990 ed.)
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The U.S. Payment System: Efficiency, Risk and the Role of the Federal Reserve - Proceedings of a Symposium on the U.S. Payment System sponsored by the Federal Reserve Bank of Richmond (Hardcover, 1990 ed.)
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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."
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