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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.

Still image from "A Day at Federal Reserve Bank of Cleveland," an informational film produced in 1950
Cash Services

The Federal Reserve System issues and distributes the nation’s currency

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