| Popis: |
A Payment system is a mechanism whereby fund settlements can be smoothly effected and, as such, is an important public infrastructure supporting economic activity and financial transactions. Payment-related operations are one of the core businesses of banking industry. Meanwhile for central banks, it is one of the key roles to ensure secure and efficient payment systems. Looking at payment systems worldwide, three new trends are apparent. The first is the introduction of RTGS（Real-time Gross Settlement）system into the payment systems operated by central banks. The second is adoption of“hybrid systems”by private payment systems. A hybrid system is a net settlement system that netting and settlement are carried out frequently or continuously during the daytime. The third trend is to build an “integrated system”, a payment system which has both RTGS and net settlement functions. The first integrated system was LVTS in Canada and the Deutsche Bundesbank recently introduced an integrated system called “RTGSplus”. Japanese payment systems should keep up with these new trends and try to conform to global standards. Possible reform in this context would be to make the Foreign Exchange Yen Clearing System a hybrid system. Another possibility would be to change the allocation of roles between the Foreign Exchange Yen Clearing System and the Zengin system. |
