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Removing the hazard of Fedwire daylight overdrafts

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  • E.J. Stevens
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    Abstract

    An analysis of the potential effects of three recent proposals for pricing Federal Reserve daylight overdrafts, demonstrating that reducing the attendant moral hazard in daylight overdraft credit depends on how, rather than on how much, pricing affects overdrafts, and that this should be a criterion for choosing among the pricing proposals.

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    File URL: http://www.clevelandfed.org/research/review/1989/89-q2-stevens.pdf
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    Bibliographic Info

    Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

    Volume (Year): (1989)
    Issue (Month): Q II ()
    Pages: 2-10

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    Handle: RePEc:fip:fedcer:y:1989:i:qii:p:2-10:n:v.25no.2

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    Related research

    Keywords: Overdrafts ; Federal Reserve banks ; Electronic funds transfers ; Payment systems;

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    Cited by:
    1. David Vanhoose, 2000. "Central bank policy making in competing payment systems," Atlantic Economic Journal, International Atlantic Economic Society, vol. 28(2), pages 117-139, June.
    2. E.J. Stevens, 1992. "Comparing central banks' rulebooks," Economic Commentary, Federal Reserve Bank of Cleveland, issue Q, pages 2-15.
    3. E.J. Stevens, 1993. "Required clearing balances," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 2-14.

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