• Print
  • Email

Economic Perspectives, Vol. 12, No. 3, May 1988
Daylight overdrafts: Rationale and risks

The U.S. payments system consists of thousands of ecnomic agents transferring claims to financial assets. Although disagreement may exist on specific payment system issues-such as externalities, public-good aspects, and the proper oversight role of the government-few people doubt the importance of a smoothly operating payment system to the efficient functioning of the economy.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

Copyright © 2019. All rights reserved.

Please review our Privacy Policy | Legal Notices