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Federal Reserve Payments Study (FRPS)

Published by Board of Governors of the Federal Reserve System | Board of Governors of the Federal Reserve System | Metadata Last Checked: January 24, 2026 | Last Modified: 2025-03-12
The Federal Reserve Payments Study (FRPS) is an ongoing effort to estimate aggregate trends in noncash payments in the United States, offering a periodic benchmark of developments in the U.S. payments system to policymakers, the industry, and the public.

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