Center for Financial Innovation and Stability

The purpose of the Center for Financial Innovation and Stability is to improve knowledge of financial innovation and financial stability as well as the connection between the two, especially as it pertains to Federal Reserve policymaking.


Features
Lessons for E-Money from the U.S. Experience with Bank Notes

Lessons for E-Money from the U.S. Experience with Bank Notes

Private banks issued the majority of the currency in the United States prior to 1933. A new Notes from the Vault draws on that experience to develop some implications for government policy regarding e-money.
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Who Will Be Central to the Financial System?

Who Will Be Central to the Financial System?

Will commercial banks remain central to the financial system? If banks become less important, should macroprudential policy focus on shadow banks? Notes from the Vault summarizes the discussion of these issues at the Atlanta Fed's recent Financial Markets Conference.
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