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Printable Handouts
Navigable Slide Index
- Introduction
- Large value payment systems and regulation
- Overview
- Payment systems
- Payments in historical context
- Payments in a modern monetary economy
- Hierarchy of settlement relationships
- Efficiency and dependence
- A Network of specialist payment systems
- Payments and monetary and financial stability
- Sources of systemic risk
- Credit risk in deferred net settlement systems
- Final settlement: a worked example
- Initial balance sheets
- Balance sheets after customer payment
- Sheets after settlement in central bank reserves
- Efficiency of netting arrangements
- Netting efficiency
- Transition to RTGS
- Real time gross settlement
- Liquidity needs in RTGS
- Liquidity cost and settlement delay
- Related research
- Liquidity demands and choices
- Payment systems policy
- System design
- Examples of alternative system designs
- Use of liquidity saving features in RITS system
- Operational risk
- Tendency to concentration
- Participant level outages
- Policy and mitigants
- Business risk
- Market failures in payment systems
- Public intervention
- Public ownership
- Public operation of infrastructure
- Oversight
- Alternative central bank roles
- Concluding remarks
- Acknowledgements and disclaimers
Topics Covered
- Historical origins of payment systems and link to central bank objectives and policy interest
- Sources of risk in large-value payment systems and how system design has evolved to mitigate these risks
- The case for public intervention in payment systems
- Different forms of public intervention
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Talk Citation
Manning, M. (2010, April 6). Large value payment systems and the role of regulation [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved August 31, 2024, from https://doi.org/10.69645/ENEH4917.Export Citation (RIS)