Central Banking

Fed proposals for updated payments system meets with mixed response

federal reserve

The Federal Reserve's Sandra Pianalto has praised "thoughtful and insightful" feedback from market participants to a consultation paper issued by the US regional reserve banks in September as part of a 10-year plan to improve the country's payment system.

The document, which identifies "key gaps" in the payment system, asks the wider payments industry to come up with specific tactics for meeting them, as well as to comment on the reserve banks' role in implementing strategies to shape the future

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