Deputy Seminar, Chicago, IL

POTENTIAL 24 X 7 X 365 RTGS SETTLEMENT SERVICE

End-User Service

Sender

Receiver

Clearing

Bank A

Bank B

Sender’s account debited

Receiver’s account credited

Settlement

Settlement Service

Bank A’s account

Bank B’s account

Interbank funds flow

Payment message flow

STRATEGIES FOR IMPROVING THE U.S. PAYMENT SYSTEM

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©2018 FederalReserve Banks.Materials are not tobeusedwithout consent.

POTENTIAL LIQUIDITY MANAGEMENT TOOL

STRATEGIES FOR IMPROVING THE U.S. PAYMENT SYSTEM

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©2018 FederalReserve Banks.Materials are not tobeusedwithout consent.