Payment Systems In The Financial Markets
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Payment Systems In The Financial Markets
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Author : Marco Rossi
language : en
Publisher: Springer
Release Date : 1998-06-12
Payment Systems In The Financial Markets written by Marco Rossi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-06-12 with Business & Economics categories.
The payment system is one of the mechanisms essential to the working of an exchange economy. Over the last decade, central banks have been determined to improve their payment systems to harmonise and reduce risk, and in Europe to anticipate their future interconnection in the TARGET system. This book provides the analytic framework for an informed policy debate on the implications for monetary policy.
Introduction To Payments And Financial Market Infrastructures
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Author : Ulrich Bindseil
language : en
Publisher: Springer Nature
Release Date : 2023-10-28
Introduction To Payments And Financial Market Infrastructures written by Ulrich Bindseil and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-28 with Business & Economics categories.
Payments and financial market infrastructures are vital components of modern economies, yet they have often been overlooked by economists. However, any economic exchange, including financial market transactions, is matched by a payment leg, and the safety, efficiency, and immediacy of the payment, and the problem of linking the two legs of the transaction (“delivery-vs-payment”), remain universal challenges. The consequences of inefficiencies or interruptions in payment and settlement systems have immediate and significant impacts on the real economy. Moreover, payments and financial market infrastructures are also a matter of strategic importance for nation-states, and being excessively dependent on foreign providers has been proven to be a significant risk, as they can be “weaponized." This book provides a concise yet thorough introduction to payments and financial market infrastructures, exploring various types of risks, retail payments, payment systems, cross-border payments, central counterparties, FX operations, and central securities depositories. The final chapter investigates payment innovations, including unbacked crypto-assets (e.g. Bitcoin), stablecoins, and central bank digital currencies. The text outlines key activities and risk management frameworks, as well as examining the operational mechanics of different payment systems. The book emphasizes the importance of understanding the nature of transfer of financial claims and liabilities through the process of payment and settlement, providing financial account representations of payments wherever useful. The book concludes that the payment and financial market infrastructure space has been shaken by recent innovations, which are expected to lead to seismic shifts in payment technology, practices, and market structures.
The Reform Of Wholesale Payment Systems And Its Impact Of Financial Markets
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Author : David F. I. Folkerts-Landau
language : en
Publisher:
Release Date : 1990
The Reform Of Wholesale Payment Systems And Its Impact Of Financial Markets written by David F. I. Folkerts-Landau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with categories.
Financial Market Trends
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Author :
language : en
Publisher:
Release Date : 2001
Financial Market Trends written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Finance categories.
The Reform Of Wholesale Payment Systems And Its Impact On Financial Markets
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Author : David Fokke Ihno Folkerts-Landau
language : en
Publisher:
Release Date : 1996
The Reform Of Wholesale Payment Systems And Its Impact On Financial Markets written by David Fokke Ihno Folkerts-Landau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
The explosive growth in the volume of transactions in highly liquid national and international money, derivative, and capital markets during the last ten years -- the so-called commoditization of finance -- has produced a corresponding increase in flows of gross domestic and international payments. These flows are facilitated by an interlocking network of national and international wholesale payment systems that are at the core of the world's major financial systems. It is widely recognized that a disturbance in one of these payment systems -- an operational mishap, the failure of a major counterparty, a liquidity problem in one of the money markets -- could have serious consequences for global trade and finance. Sections II and II of this paper review the nature and the objectives of ongoing and planned payment system reforms in the United States, and major European Union countries. Section IV discusses the impact of these reforms on the financial system, with particular emphasis on the implication for the availability and cost of intraday liquidity in financial markets. Section V examines the impact of the ongoing shift toward real-time, gross settlement payment systems -- the preferrred type of system for wholesale payments -- on liquidity, the relationship among yields of securities of varying liquidity, bid-ask spreads, and payments conventions in securities markets. The concluding section identifies some unresolved issues.
Financial Markets In Finland
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Author :
language : en
Publisher:
Release Date : 1996
Financial Markets In Finland written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Banks and banking categories.
Systemic Financial Risk In Payment Systems
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1990-07-01
Systemic Financial Risk In Payment Systems written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-07-01 with Business & Economics categories.
Efficient and stable payments systems are of fundamental importance in maintaining an orderly international monetary system. Major disruptions of national and international payments systems would have highly adverse effects on international trade, capital flows, and real activity. A key issue--now being addressed by authorities in a number of major countries--is whether existing institutional arrangements need to be modified in order to reduce the liquidity and credit risks that have arisen as a result of the expansion of international capital flows and the growing integration of major financial markets. This paper examines the nature of these risks and the policies that are being implemented to manage or curb them.
Payment Systems In The Financial Markets
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Author : Marco Rossi
language : en
Publisher: Palgrave Macmillan
Release Date : 1998
Payment Systems In The Financial Markets written by Marco Rossi and has been published by Palgrave Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
The payment system is one of the mechanisms essential to the working of an exchange economy. Over the last decade, central banks have been determined to improve their payment systems to harmonise and reduce risk, and in Europe to anticipate their future interconnection in the TARGET system. This book provides the analytic framework for an informed policy debate on the implications for monetary policy.
The Reform Of Wholesale Payment Systems And Its Impact On Financial Markets
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Author : David Folkerts-Landau
language : en
Publisher:
Release Date : 2006
The Reform Of Wholesale Payment Systems And Its Impact On Financial Markets written by David Folkerts-Landau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper reviews the ongoing efforts to reduce the risks inherent in the world`s principal wholesale payment systems. The paper assesses the major policy proposals to contain the growth in intraday credit exposures that arises in net settlement wholesale payment systems and in the real-time gross systems in which the central bank provides daylight overdrafts. It also discusses the benefits of these risk-management policies, and we assess the adverse impact of applying interest charges for intraday central-bank credit or of collateralizing such credit on liquidity in financial markets.
Annual Report
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Author : Bank Negara Malaysia
language : en
Publisher:
Release Date : 1999
Annual Report written by Bank Negara Malaysia and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Banks and banking categories.