Payments
Instant rails broke the treasury day
ACH cleared overnight, wires ran on business hours, and float was predictable. FedNow and RTP ended that. With 42 percent of RTP payments landing nights, weekends, and holidays, treasury teams are positioning cash by the hour - and the Fed discount window still keeps bankers' hours.
Lead essay
Start here when you want the current Doric argument instead of a chronological archive.
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