Financial Stability Review
Payment and Settlement Systems Articles
2003
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Statistical Overview of CHAPS Sterling
(103k)
(Issue 14, June 2003)
CHAPS Sterling handles sterling denominated inter-bank payments. This article provides a statistical overview of CHAPS Sterling, focusing in particular upon payment activity, liquidity provision, and 'concentration' risk (the extent to which the failure of a single bank could disrupt the payment system as a whole). The evidence suggests that a bank failure would not prevent the remaining healthy banks from making payments to each other. However, as payment activity is relatively concentrated, the failure of the key node bank could still disrupt the payment system.
Key Resources
|
Memorandum of Understanding between HM Treasury,
the Bank of England and the Financial Services Authority
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