The Federal Reserve System has also consolidated certain other services for banks and the U.S. Treasury, such as automated clearinghouse (ACH), offline Fedwire, and savings bond services. Similar trends are occurring in other areas of Reserve Bank operations.
The Reserve Banks have found it more efficient to have a few central offices perform certain internal support and back-office services - such as managing information technology and payroll - rather than having each Bank conduct them individually. This trend toward consolidation of operations has precipitated significant structural changes at the Reserve Banks. Staff levels have been reduced throughout the System.