Topic 11: Payments and money transfer services Flashcards
1
Q
What are ‘systemically important payment systems’ (SIPS)?
A
A payment system which has the potential to trigger or transmit systemic disruptions
2
Q
What is ‘real-time gross settlement’ (RTGS)?
A
RTGS refers to a funds transfer system that allows instantaneous transfer of money and/or securities.
3
Q
What are clearing systems?
A
Clearing systems comprise the structures and processes providers use to transfer money or funds into and out of their customers’ accounts.
