Fed data gives model of banks’ settlement service choices, paper argues
Data shows banks choose payment settlement services governed by average cost
Data on the Federal Reserve's Fedwire real-time gross settlement service can provide the basis of a model for how banks choose among competing payment-settlement services, a working paper published this month by the Federal Reserve Bank of New York argues.
In Nonlinear pricing with competition: the market for settling payments, Adam Copeland and Rodney Garratt examine the pricing and payment data for Fedwire. They compare it to the two private-sector systems that provide similar services, the
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