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April 2001
Banking and Policy Issues Magazine

2000 Annual Report

Message from the President
Comments by Gary Stern, president of the Federal Reserve Bank of Minneapolis, "...[the essay] provides a useful framework to think about the Federal Reserve's role in the evolving payments system."

Thoughts on the Fed's Role in the Payments System
This year's annual report essay explores the structuring of a new, all-embracing payments system aligned with the Reserve Banks' mission, and one which will best serve the public in an age of ever-changing high-tech advancements.

The Federal Reserve's Objectives Regarding the Payments System and Payment Services Provision

Interbank Settlement and the Emergence of Central Banks

Functions Complementary to the Core

2000 Financial Statements [115K PDF]


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