Nonbanks and risk in retail payments
AbstractThis paper documents the importance of nonbanks in retail payments in the United States and in 15 European countries and analyzes the implications of the importance and multiple roles played by nonbanks on retail payment risks. This paper also reviews the main regulatory safeguards in place, and concludes that there may be a need to reconsider some of them in view of the growing role of nonbanks and of the global reach of risks in the electronic era.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Kansas City in its series Payments System Research Working Paper with number PSR WP 07-02.
Date of creation: 2007
Date of revision:
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"Banking regulation : its purposes, implementation, and effects,"
Federal Reserve Bank of Kansas City, number 2000bria.
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- repec:fip:fedgsq:y:2007:i:jan5 is not listed on IDEAS
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- Richard J. Sullivan, 2007. "Risk management and nonbank participation in the U.S. retail payments system," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 5-40.
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- Kim McPhail, 2003. "Managing Operational Risk in Payment, Clearing, and Settlement Systems," Working Papers 03-2, Bank of Canada.
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