1st Edition

Payment Systems in Global Perspective

Edited By Maxwell J. Fry Copyright 1999

    This book provides an authoritative overview of the complex practical and policy implications of international payments systems by central bankers from both developed and developing countries, Payments Systems in Global Perspective presents the results of a survey of international central bank practice conducted by the Bank of England.

    List of Figures, List of Table, Authors, Foreword, Acknowledgements, Acronyms, 1 Introduction, 2 Payment Instruments, 3 Payment Systems, 4 Deferred Net Settlement versus Real-Term Gross Settlement for Large-Value Transfer Systems, 5 Reserve Requirements, Liquidity and Risk, 6 Central Bank Roles in Payment Systemsb, 7 Some Links between Payment Systems, Monetary Policy, Fixed Exchange Rates and Financial Stability, Appendix 1 Payment and Settlement Systems Questionnaire, Appendix 2 Deferred Net Settlement Systems, Appendix 3 Real-Time Gross Settlement Systems, Appendix 4 Central Bank Risk Exposure, Appendix 5 Central Bank Settlement Failure Guarantee, Appendix 6 Payment System Development Strategies, Appendix 7 Separate Accounts for Required Reserves, Appendix 8 Reserve Maintenance Periods, Appendix 9 Use of Required Reserves for Payment Purposes, Appendix 10 Interest Paid on Reserves, Appendix 11 Formal Central Bank Supervision of Payment Systems, Appendix 12 Informal Central Bank Supervision of Payment Systems, Appendix 13 Commercial Bank Involvement in Payment Systems, Appendix 14 Exchange Rate Regimes and Monetary Policy, Bibliography, Index


    Maxwell J. Fry