Majority of central banks only have one RTGS contingency site
More than half of institutions have had RTGS outages since 2020
A majority of central banks participating in the Payments Benchmarks 2021 have only one contingency site for their real-time gross settlement (RTGS) system. Of the 30 central banks that answered this question, 19 (63.3%) said they had one RTGS contingency site.
Of the remainder, eight had two sites (26.7%), and three (10%) had three sites. Eight central banks did not respond.
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More on Payments
Payments Benchmarks 2023 – executive summary
Payments are undergoing rapid technological change, creating opportunities – and challenges
Payments Benchmarks 2023 report – moving money in shifting conditions
Data reveals differences in CBDC paths, RTGS systems, instant payment plans and budgets
RTGS systems are used free of charge in one-tenth of jurisdictions
RTGS systems are used free of charge in one-tenth of jurisdictions
Median RTGS system processes nearly $100bn annually
Median value of payments rose by $15bn from the previous benchmark
Primary RTGS systems have average $1.65m in operating costs
Majority of central banks increased payments system divisions budgets in the past year
Payments oversight is under-resourced for a third of central banks
Respondents identify shortage of human capital, capacity building and dated technology as concerns
Few non-banks have access to RTGS systems
Maximum number of institutions reported to have access to one RTGS system was 233
Most central banks have payment and settlement supervision mandates
Payment system laws contain oversight powers in two-thirds of jurisdictions
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