Central Banking

Central Bank's on-line banking system threatened

BRAZIL - The Central Bank may have to delay the starting date for its new on-line banking system, called Sistema de Pagamentos Brasileiro (SPB), from November.

Executives and technicians from banks, consulting firms and IT service companies agree that nobody is satisfied with the current rate of security to operate such a revolutionary and complex system as SPB, in which all financial transactions above R$5,000 will be made on-line and in real time.

Central Bank monetary policy director Luiz

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