Banks’ Newest Fed Headache: Nonstop Instant Payments

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Analysts worry that a new Federal Reserve system for banks will trigger deposit flight

this month aiming to make payments in the U.S. banking system available immediately, around the clock.

Although it is a boon to consumers and many businesses, some analysts warn that FedNow could destabilize banks’ reliance on customer cash, fanning the flames of deposit flight that became the bane of several regional banks this spring.Continue reading your article with

Source: News Formal (newsformal.com)

 

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