In the United States, the Federal Reserve is the central bank. The Reserve Banks, operated by the Fed, include functionality as a national ACH network operator, like the Electronics Payment Network (EPN), and follow Nacha operating rules.   Federal Reserve Banks perform these ACH payment activities: 1. Receive batch files of electronic ACH payments from each ODFI (originating depository financial institution) 2. Edit and sort ACH payments 3. Deliver the ACH payments to each RDFI (receiving depository institution) participating in the transaction  4. Settle the ACH payment transactions through credits and debits to depository financial institutions’ settlement accounts 5. Work with the Electronics Payment Network on ACH bank transfers using both ACH operators (a.k.a. interoperator) 6. Settle interoperator ACH payments.