Systemically Important Payment System: Difference between revisions

Revision as of 20:48, 6 March 2024

Revision as of 13:01, 28 March 2024

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# A well-founded legal basis

# Rules and procedures which enable participants to have a clear understanding of the system’s impact on each of the [[financial risksrisk]]s they incur through participation in it.

# Clearly defined procedures for the management of credit risks and liquidity risks, which specify the respective responsibilities of the system operator and the participants and which provide appropriate incentives to manage and contain those risks

# Prompt final settlement on the day of value, preferably during the day and at a minimum at the end of the day.