The ACH processes transactions in batches one or two days before they are scheduled to settle. ACH transactions are settled through depository institutions’ accounts at the Federal Reserve Banks. Approximately 4 billion ACH transactions were processed in 1996 with a total value of approximately $ trillion. About 3.3 billion of these payments were commercial transactions; 625 million payments were originated by the Federal government.
Affordable Housing and the CRA I want to briefly connect the dots between the high priority we put on strengthening the CRA and the pressing challenge of affordable housing that is a key focus of the work that you all do. Access to affordable housing connects families concretely to place and can be a source of strength or fragility.