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<p>Federal Reserve Financial Services logo, 1992 (via <a href="">FRASER</a>)</p>

The Federal Reserve works to promote a safe, efficient, and accessible system for U.S. dollar transactions.

Drawing of magnetic tapes, the initial media for communicating Automated Clearing House payments. (<a href="">Source</a>: Northwestern Banker, August 1975: 76)
Automated Clearing House Payments

The Federal Reserve began operating an electronic payment Automated Clearing House system in the 1970s to provide a substitute for paper checks.

The Federal Reserve Leased Wire System in 1953, from the Federal Reserve Bank of Richmond 1953 Annual Report

Since 1915, the Federal Reserve has operated a wire payment system, known today as Fedwire.

A diagram of the flow of checks, from the Federal Reserve Bank of St Louis <em>Review</em>, February 1962.
Check Payments

Congress charged the Federal Reserve with using the nationwide scope of its operations to improve the check payments system