The benefit of reduction in transaction costs should be passed on to the customers, especially at the BC outlets. The corollary to the increase in the number of transactions is that it would make the BC outlets viable. It is, therefore, necessary that appropriate plans are put in place for effective technology deployment in payment systems and products to reduce costs.
While the improvements in the financial regulatory framework outlined above would involve some expansion of Federal Reserve responsibilities, that expansion would be an incremental and natural extension of the Federal Reserve's existing supervisory and regulatory responsibilities, reflecting the important relationship between financial stability and the roles of a central bank.