Financial Stability Review
Payment and Settlement Systems Articles
2000
2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
The
Bank of England's Oversight of Payment Systems
(156k)
(Issue 9, December 2000)
It is best international practice for a central bank to set out publicly its payment system objectives and to disclose its roles and major policies with respect to payment systems. Accordingly, in November 2000, the Bank of England issued a paper on its oversight of payments systems, which was reproduced in its entirety in the Financial Stability Review.
Core
Principles for Systemically Important Payment Systems
(112k)
(Issue 8, June 2000)
Payment systems are at the centre of financial infrastructure and they need to be designed and operated in ways which ensure their safety as well as their efficiency. This article looks at an international initiative to provide a universal framework for analysing these issues by establishing core principles for systemically important payment systems that can be used to promote payment system reform throughout the world. The article also discusses the key role of central banks in overseeing the safety and efficiency of payment systems.
The culmination of this international initiative was the report "Core Principles for Systemically Important Payment Systems", which was published subsequently by the Committee on Payment and Settlement Systems (CPSS) of the Group of Ten central banks in January 2001.
Key Resources
|
Memorandum of Understanding between HM Treasury,
the Bank of England and the Financial Services Authority
Download PDF (50k) |
