The liquidity of the universal and commercial banks and their subsidiary banks and quasi-banks was more than ample as the high liquidity coverage ratio (LCR) of the industry shows their ability to manage short-term shocks in their liquidity position. Meanwhile, the universal and commercial banks’ net stable funding ratio (NSFR) indicates availability of stable funding to serve customers in the medium term.
Innovation in payments systems has also become a global phenomenon, and successful innovations outside the United States will likely influence developments here. These and other factors will likely spur further changes in our payments system in the years to come. New technologies are at the heart of this evolution.