The Check Float Puzzle

Check collection has a puzzling feature. The collecting bank earns one day's additional interest by presenting a check to the paying bank one day sooner. The puzzle is that it is difficult to identify a commensurate social benefit associated with presenting a check one day earlier. Collecting banks face distorted incentives to clear checks rapidly, resulting in wasted resources

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Year of publication:	2012
Authors:	Lacker, Jeffrey M.
Publisher:	[2012]: [S.l.] : SSRN
Subject:	Scheck \| Cheque \| Zahlungsverkehr \| Payment system \| Zeit \| Time

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Extent:	1 Online-Ressource (25 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: FRB Richmond Economic Quarterly, Vol. 83, No. 3, Summer 1997, pp. 1-25 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 1997 erstellt
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013101972