Regional Check Processing Center - RCPC

A local Federal Reserve facility where checks that are drawn on depository institutions are processed overnight. A regional check processing center conducts check-clearing operations including paper and electronic, and interbank check clearing. A depository institution is a financial institution such as a savings bank, credit union, commercial bank or savings and loans where the public makes deposits. Due to the increasing reliance on electronic check processing, the Federal Reserve Bank mainly processes electronic forms of payment through credit cards, debit cards and online account transfers versus paper checks.

The Federal Reserve continuously updates its check processing systems and restructures its schedules in order to meet the demand of check processing and make it more efficient in accordance with technological advancements. According to the Fed, the number of checks written in the United States has been declining since the mid 1990s; however, electronic processing of checks is increasing.