[...]In this article, we measure banks’ alternative fundingsources for Fedwire funds transfers throughout the day, usinga data set that includes all banks’ Fedwire funds transfers andFederal Reserve System deposits. This approach allows us togauge the importance of incoming payments as a...

[...]The purpose of this article is to develop a clearerpicture of the importance of payments services to the bankingindustry. This goal is served by taking a broad view of thepayments business and analyzing information provided bylarge bank holding companies (BHCs) in their annualreports. BHCs...

State led credit and savings programs have been implemented in nu-merous low income countries, but their success in reaching the poorremains widely debated. We report on research which exploits the pol-icy features of the Indian social banking program to provide evidenceon this issue. State-led...

This paper studies how access to financial services among a previously unbanked group affects human capital, labor market, and wealth outcomes. We use novel data from the Freedman's Savings Bank—created following the American Civil War to serve free Blacks—employing an instrumental variables...

According to Stein and Yannelis (2020), the Freedman's Savings Bank had large positive effects on the wealth, literacy, school attendance, income and business ownership of African Americans within five years of its existence. This appendix lists our concerns about Stein and Yannelis (2020),...