Skip top navigation

Fostering Payment and Settlement System Safety and Efficiency

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


 (PeopleImages/ iStock / GettyPlus)

adapted by Federal Reserve Bank of St. Louis staff from content in the Board of Governors's overview The Fed Explained

The Federal Reserve provides many payment system services to the financial industry. Formally, the Fed "fosters payment and settlement system safety and efficiency through services to the banking industry and the U.S. government that facilitate U.S.-dollar transactions and payments."

The twelve Federal Reserve Banks provide banking services to depository institutions (such as commercial banks) and the federal government. Every Federal Reserve Bank provides cash services to the banking industry. Since 2003, all Fed check processing is handled by the Federal Reserve Bank of Atlanta. 

Learn more at the links below: