Nevertheless, it should be kept in mind that the challenges the economy faces today cannot be overcome by the Bank’s efforts alone. The Bank will continue to do its utmost to provide support from the financial side. At the same time, however, it is extremely important for business firms, financial institutions, and the government each to continue exerting themselves in their respective roles.
However, the 1990s saw a marked shift in consumers' behavior. Federal Reserve research has revealed a steady decline in check usage since the mid-1990s. By 2003, electronic noncash retail payments exceeded check payments for the first time. Debit cards, used primarily by consumers for everyday purchases, have represented the fastest growing segment of the retail payments system.