The Federal Reserve's new funds availability rules for interbank check clearings are being credited with cutting into its check-clearing business, though less than initially expected.

The so-called, same-day settlement rules, which took effect Jan. 3, had been expected to move check-clearing volume from the Fed to commercial banks by making private systems more competitive.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.