Monetary conditions were easing through much of this period.8 However, for quite a long time the Bank was unable to provide as much monetary stimulus as it would have liked because of fiscal, political, and international developments that, at times, caused financial markets to be nervous and volatile.
Community banks and credit unions are concerned that the interchange revenue they currently receive will decline to the extent networks do not implement a two-tier interchange fee system that retains the current interchange fee levels for exempt issuers.