Central Banking

Brazil's interbank clearinghouse to bring benefits

BRAZIL - Brazil's new interbank payment clearinghouse is expected to stimulate online transactions between banks once it becomes operational, Brazilian financial daily Valor Economico reported.

The clearinghouse, created and managed by a private company CIP, is being tested at a capacity of 120,000 transactions a day. CIP will take over the clearinghouse operations for the country's SPB interbank settlement program, which are currently managed by the central bank.

However, CIP has to prove it i