More broadly, the Faster and Secure Payments Task Forces demonstrate the importance of broad and diverse stakeholder input, which are essential if the United States is to implement safe, ubiquitous real-time retail payments. Working together, we can achieve a safe and fast payments system that meets the evolving needs of consumers and our dynamic economy.
Specifically, such balances are calculated as the average amount outstanding on financial institutions’ current account during 2015 – which are referred to as financial institutions’ “Basic Balances” – minus required reserves.