Financial Stability

Basis for unified payment system in Russia

In December, the Interagency Smart Cards Commission will present a draft plan for putting together a unified payment system in Russia. The system will be based on the payment system of Sberbank, and the clearance and cash center of the central bank will…

Italy MTS to adopt RTGS system soon

MTS SpA, Italy's secondary bond market operator, will soon adopt real-time gross settlement (RTGS) for bond operations to replace current end-of-day settlement, MTS deputy director general Ezio Dosa said on Wednesday.

Liquidity gridlock feared from Japan's RTGS launch

Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.

BOJ commits to Jan 4 real-time settlement launch

Bank of Japan governor Masaru Hayami said on Tuesday the central bank would stick with the January 4 launch date for its real-time gross settlement (RTGS) system for government debt and money market transactions.

Turkish cenbank goes live with real-time DvP SSS

Central Bank of Turkey has gone live with new securities settlement system named ESTS (Electronic Securities Transfer and Settlement System) after three years of development. On October 31, the first day of use, 1,800 securities transactions were settled…

NBP discusses draft payment systems laws

Today the meeting of the National Bank of Poland's payment systems council, a consultative and advisory body of the central bank's management board, discussed draft laws that implement the basic regulations of the European Union in the area of payment…

The role of payment systems in systemic stability

In May this year there was a high-level payment system workshop held by the BIS' Committee for Payment and Settlement Systems in Mexico. The papers presented at that meeting have now been published.

Foreign exchange settlement risk

The Basel Committee on Banking Supervision just issued a revised version ofits guidance for supervisors on managing the settlement risk arising fromforeign exchange transactions.

Farewell to Wendelin at Bundesbank

Wendelin Hartmann is presented with a special issue of a German banking journal to commemorate many years service at the Bundesbank and as chairman of the Committe on Payment and Settlement Systems at the BIS.

Macedonia payment systems tender

Macedonia, like many other countries in Eastern Europe, is in the process of reforming its payment systems. It is tendering for IT systems.

Padoa-Schioppa to Head BIS payments committee

Tommaso Padoa-Schioppa, ECB's banking supervision supremo, has been appointed chairman of the Committee on Payment and Settlement Systems (CPSS) based at the Bank for International Settlements in Basel

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