There’s work to be done on RTGS contingencies

Central bankers from Canada, Thailand, Singapore and Brazil discuss RTGS backup planning

Contingency plans

A critical line of defence for a real-time gross-settlement system (RTGS) that handles settlement of high-value payments and is critical to the underpinning of a country’s economy is its contingency site, where its operations can be carried out, should the main site fail.

Perhaps surprisingly, there is no clear rule for how many backup systems should exist for primary RTGS infrastructure. While nearly two-thirds of respondents (19 of the 30 central banks) to this section of the Payments

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