RBNZ Consultation - Designated payment systems

REPORT - The Reserve Bank is proposing new legislation which will allow for the designation of payment systems, and welcomes comments on the consultation document Designated payment systems, 20 December.

Designated payment systems: A consultation document

Designation will ensure the finality of transactions effected through a designated payment system and will provide for the enforceability of netting arrangements in those systems.

The intention is to add a new part to the Reserve Bank of New

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