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
Government and Private E-Money-Like Systems: Federal Reserve Notes and National Bank Notes

Government and Private E-Money-Like Systems: Federal Reserve Notes and National Bank Notes

Warren E. Weber
CenFIS Working Paper 2015-3 (August)
In the United States from 1914 to 1935, both privately issued and government-issued bank notes were in circulation simultaneously. The author examines this period and considers the government's potential role in using e-money.

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Breaking Down Geographic Barriers on Banks: U.S. and EU Recent Experiences

Breaking Down Geographic Barriers on Banks: U.S. and EU Recent Experiences

The integration of a banking system across state boundaries impacts the bank system's soundness and efficiency. Notes from the Vault discusses progress towards such integration in the United States and European Union and how that progress affected their respective responses to the financial crisis.
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