11 Apr. Bank of England Payment Systems Oversight Report 2011. The Bank of England has published the 2011 Payment Systems Oversight Report (see link below). The Oversight Report is an important element of the Bank’s oversight work. It offers public accountability for this statutory function of the Bank, as well as increasing transparency about the [...]
Remarks by Malcolm Edey, Assistant Governor (Financial System), Reserve Bank of Australia. Panel session on Public Policy and Innovation at the Federal Reserve Bank of Kansas City Payments Conference, Kansas City , March 2012. The question I have been asked to address is whether inertia (or coordination failure) is an obstacle to payments system innovation. [...]
Payment and settlement systems play an important role for the stability and efficiency of the financial sector and the euro area economy as a whole. For instance, the daily average of the total value of payments processed in the euro area’s large-value payment systems alone stood at €2,713 billion in 2007. This was 30.5% of [...]
Principles for the oversight of payment systems Central banks’ involvement in the oversight of payment systems arises from their core role as the systems’ settlement bank, providing the ultimate settlement asset, central bank money. This gives central banks a very direct interest in any potential systemic risks inherent in such systems. More broadly, payment systems [...]