Central Banking

Bulgaria attempts to speed up and streamline payments


The Bulgarian National Bank on Thursday said it would introduce changes in the day schedule of the Real-Time Interbank Gross-Settlement System, also known as Rings.

As of June 13, a third settlement cycle will be introduced within the payments system. The time allowed for receiving customer payments for execution through the system will also be extended, although the central bank did not say by how much the time window would lengthen.

The increase in the number of settlement cycles is designed

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