The above-discussed studies have advanced our knowledge of how oscillations affect functions that are handled jointly by the mPFC and hippocampus. Coherent theta oscillations coordinate interactions between the hippocampus and mPFC during complex cognitive operations such as working memory. Hippocampal theta modulation of mPFC gamma oscillations may also play an important role in coordinating interactions between the regions. Reactivation of mPFC neurons by hippocampal sharp wave-ripples may help to gradually transfer some memories from the hippocampus to the mPFC during slow-wave sleep. Disturbances in oscillatory phase-locking between the hippocampus and mPFC may contribute to cognitive deficits in schizophrenia. Uncovering oscillatory mechanisms in the mPFC and hippocampus is thus very important (Table 1). Future results in this area may pave the way toward development of novel treatments for schizophrenia that aim to alleviate cognitive deficits by restoring normal patterns of oscillatory phase-locking between the hippocampus and mPFC.