DEFINITION of 'Division Of Reserve Bank Operations And Payment Systems – RBOPS'
An entity under the Federal Reserve System that manages certain policies and operations of the Federal Reserve Banks pertaining to the payment system within the United States. The Division of Reserve Bank Operations and Payment Systems ensures policies and operations are maintained when the depository institutions require financial services from Federal Reserve Banks, the U.S. Treasury and other government agencies. The Board of Governors has granted the director of the Division of Reserve Bank Operations and Payment Systems the authority to set accounting policies for the nation's Reserve Banks.
BREAKING DOWN 'Division Of Reserve Bank Operations And Payment Systems – RBOPS'
The U.S. payment system transmits more than $3 trillion each business day to pay for financial instruments, goods and services. The Division of RBOPS develops policies to ensure the efficiency and integrity of the U.S. payment systems, and conducts research to improve the systems.