The SF Fed is dedicated to building a stronger economy for all Americans. To advance this mission, the Bank provides a variety of financial services that promote a safe, sound, and stable banking and financial system. These services range from ensuring that banks and other depository institutions have sufficient cash for their operations to acting as the fiscal agent for the federal government. Together these services support the growth and stability of the U.S. economy and fair and transparent consumer financial services.
Federal Reserve Policies for Financial Services
Federal Reserve Banks began providing payment services to banks shortly after the Federal Reserve Bank System was established in 1913. This article provides a short summary of these policies.
Fintech
The evolution of financial technology (Fintech) is changing the way financial products and services are delivered to consumers. Analysts at the SF Fed seek to understand how this evolution impacts financial institution supervision, community development, financial stability, payments, and other areas. Learn more about what the SF Fed’s Fintech Team is doing to facilitate responsible innovation, protect consumers, and ensure the safety and soundness of banks.
Cash Services
The SF Fed has five cash processing facilities, including one that supports the largest domestic currency volume of any site in the Federal Reserve System. Together these facilities support over 750 financial institutions. To ensure that these institutions have enough currency and coin and that the currency is genuine and fit for commerce, the SF Fed processes more than 23 million bank notes every day.
About Our Financial Services
Accounting Information Services
As a Reserve Bank, the SF Fed provides accounting services to depository institutions throughout the Twelfth District. These services help banks making payments and those receiving payments to settle these transactions efficiently.
Automated Clearing House (ACH) Services
With access to the Automated Clearing House network, banks can quickly and easily exchange debit and credit transactions.
With the Federal Reserve’s check services, banks can process both electronic and paper checks.
The FedNow helps banks and credit unions instantly transfer money for their customers, making everyday payments easier and quicker.
Operated by the SF Fed and other Reserve Banks, this service offers settlement options to depository institutions with Federal Reserve Bank master accounts.
With FedWire, the Federal Reserve offers cost-effective issuance, maintenance, transfer and settlement services related to U.S. Treasury and certain other securities.
FedWire provides same-day, mission critical electronic funds-transfer services to banks, businesses, and government agencies.
