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Our most academic publication offers research and surveys on monetary policy, national and international developments, banking, and more. The content is written for an economically informed readership—from the undergraduate student to the PhD.


Vol. 86, No. 5 (Posted 2004-09-01)

Trends in the Efficiency of Federal Reserve Check Processing Operations

by David C. Wheelock and Paul Wilson

The Challenges of Checks. 17.1 billion: That’s how many checks the Federal Reserve processed in 1999. But that number continues to decline as electronic payments increase. David Wheelock and Paul Wilson report new information about the Fed’s efficiency and how to estimate it.

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