Regional Check Processing Center - RCPC   DEFINITION of
'Regional Check Processing Center - RCPC'  A local Federal
Reserve facility where checks that are drawn on depository
institutions are processed overnight. A regional check
processing center conducts check-clearing operations including
paper and electronic, and interbank check clearing. A depository
institution is a financial institution such as a savings bank,
credit union, commercial bank or savings and loans where the
public makes deposits. Due to the increasing reliance on
electronic check processing, the Federal Reserve Bank mainly
processes electronic forms of payment through credit cards,
debit cards and online account transfers versus paper checks.
BREAKING DOWN 'Regional Check Processing Center - RCPC'  The
Federal Reserve continuously updates its check processing
systems and restructures its schedules in order to meet the
demand of check processing and make it more efficient in
accordance with technological advancements. According to the
Fed,