SNB to launch support facility for instant payment system
Swiss central bank aims to promote instant payments with new secured loans from 2027
The Swiss National Bank (SNB) is to launch a liquidity facility aimed at facilitating instant payments.
The payment system support facility (PSSF) will replace the current intraday facility and liquidity shortage financing facility at the end of 2027, SNB governing board member Petra Tschudin said in a speech yesterday (March 10).
Tschudin explained that banks would be able to draw unlimited extra liquidity without being charged interest, and that overnight liquidity would incur a “special rate”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Payments
Korean officials argue for stablecoin authorisation body
Central bankers warn of currency substitution and monetary policy risks
Iran launches second phase of payments link with Russia
Iranian stores to accept Russian bank cards via mobile app
Bank of Finland makes renewed case for instant payments system
Solution would strengthen national security, bank says
Nigeria simplifies documentation for pan-African payments system
Revised process will affect PAPPS payments of up to $2,000 for individuals and $5,000 for businesses
Next phase of BoE RTGS project aims for atomic settlement
New platform settled £778 billion on first day of operation, deputy governor says
BoE’s RTGS service update goes live
Renewal expands access to payments infrastructure, with increased focus on cyber resilience
BIS, ECB, BoE develop synchronised cross-border FX transactions
BIS says Project Meridian FX reduces liquidity, credit and settlement risk
Danish krone becomes fully integrated into Target
National Bank of Denmark becomes first non-eurozone central bank to join Tips and T2 systems