The enhanced preparedness of the Greek banking system. The current financial turmoil found the Greek banking system in a state of revision of its strategic priorities in line with Basel II.
Research teams at the Banks have advanced many economic concepts that have been adopted by the Federal Reserve System, such as the value of inflation targeting or the latest use of economic modeling. This has led to centers of excellence in the Districts, such as the Payment Cards Center and the Real-Time Data Research Center here in Philadelphia.