Central Banking

Brazil's new payment system delayed to Jan 2002

BRAZIL - The Brazilian central bank late on Apr 11 said it delayed the implementation of the country's new system for payments for the banking sector to January 2002, to allow for more testing.

The new system was initially to start operating fully in October 2001. However, the central bank decided to stretch the period of testing for the system from two to five months to ensure a smooth operation once it is implemented.

The system will be ready as initially scheduled by June 2001. Under the

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