Private Intraday Market For Federal Funds Proposed
THIS WEEK'S LEAD STORIES
The Federal Reserve System has proposed creating a private intraday market for federal funds that would eliminate some of the risk associated with daylight overdrafts in the U.S. payments system. But such a market would require considerable systems development by both market participants and the Reserve Banks. And, according to one Fed official, a private market could take up to 30 months to implement.
Currently the Federal Reserve's Fedwire system, which carries more than $1 trillion of payments
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