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
Large, Complex Financial Regulation

Large, Complex Financial Regulation

A common complaint about the Dodd-Frank Act is that it is too long and creates so many new legal requirements. Notes from the Vault offers a theory on why financial regulatory legislation tends to be lengthy, and it draws implications for development of financial regulatory policy.
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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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