Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean
The payments and securities settlement system is the infrastructure (comprising institutions, instruments, rules, procedures, standards, and technical means) established to effect the transfer of monetary value between parties discharging mutual ob...
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| Language: | English en_US |
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Washington, DC : World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2007/01/7299376/reforming-payments-securities-settlement-systems-latin-america-caribbean http://hdl.handle.net/10986/6630 |
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okr-10986-6630 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
ACH AMF ARAB MONETARY FUND ATM BANK FOR INTERNATIONAL SETTLEMENTS BANK OF JAMAICA BANK OF SPAIN BANKING SUPERVISION CAPITAL MARKETS CDS CEMLA CENTRAL BANK REGULATION CENTRAL BANKS CHARACTER RECOGNITION CLEARING HOUSE CLEARING MEMBERS CLEARINGHOUSE COMMERCIAL BANKS COMMITTEE ON PAYMENT AND SETTLEMENT SYSTEMS COMPONENTS CONTAGION CONTRACT ENFORCEMENT COPYING COUNTERPARTY CPSS CSD CUSTODY CUSTODY RISK DELIVERY VERSUS PAYMENT DEPOSITORY DEPOSITS DERIVATIVES DVP EASTERN CARIBBEAN CENTRAL BANK ECONOMICS EFTPOS ELECTRONIC FUNDS ELECTRONIC FUNDS TRANSFER EMERGING MARKETS EMI END USERS EUROPEAN MONETARY INSTITUTE FEDERAL RESERVE BANK OF NEW YORK FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKET LIBERALIZATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FOREIGN EXCHANGE FUNDS TRANSFER SYSTEMS GLOBALIZATION GOVERNMENT SECURITIES GROSS SETTLEMENT GROSS SETTLEMENT SYSTEM GROUP OF TEN ICSD IFIS INFORMATION SYSTEMS INFORMATION TECHNOLOGIES INTERBANK PAYMENTS INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL MONETARY FUND INTEROPERABILITY INVESTMENT SERVICES ISIN LATIN AMERICAN LEGAL FRAMEWORK MAGNETIC INK CHARACTER RECOGNITION MARKET PARTICIPANTS MICR MIDDLE EAST MONEY LAUNDERING NET SETTLEMENT NETWORKS NORTH AFRICA OTC OVERSIGHT OF PAYMENT SYSTEMS PAYMENT ARRANGEMENTS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS PAYMENTS SYSTEM PAYMENTS SYSTEMS POINT OF SALE PUBLIC DEBT PUBLIC KEY INFRASTRUCTURE PUBLIC POLICY PVP REGULATORY FRAMEWORK RETAIL PAYMENT SYSTEMS RETAIL PAYMENTS RISK SHARING RTGS SADC SAN SECURITIES SECURITIES COMMISSIONS SECURITIES TRADING SETTLEMENT RISKS SETTLEMENT SYSTEMS SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION SOUTHERN AFRICAN DEVELOPMENT COMMUNITY SUBSIDIARY SYSTEMIC RISK TECHNICAL ASSISTANCE TECHNOLOGICAL CAPABILITIES TECHNOLOGICAL DEVELOPMENT TRANSMISSION OF MONETARY POLICY TRANSPARENCY TRINIDAD AND TOBAGO |
| spellingShingle |
ACH AMF ARAB MONETARY FUND ATM BANK FOR INTERNATIONAL SETTLEMENTS BANK OF JAMAICA BANK OF SPAIN BANKING SUPERVISION CAPITAL MARKETS CDS CEMLA CENTRAL BANK REGULATION CENTRAL BANKS CHARACTER RECOGNITION CLEARING HOUSE CLEARING MEMBERS CLEARINGHOUSE COMMERCIAL BANKS COMMITTEE ON PAYMENT AND SETTLEMENT SYSTEMS COMPONENTS CONTAGION CONTRACT ENFORCEMENT COPYING COUNTERPARTY CPSS CSD CUSTODY CUSTODY RISK DELIVERY VERSUS PAYMENT DEPOSITORY DEPOSITS DERIVATIVES DVP EASTERN CARIBBEAN CENTRAL BANK ECONOMICS EFTPOS ELECTRONIC FUNDS ELECTRONIC FUNDS TRANSFER EMERGING MARKETS EMI END USERS EUROPEAN MONETARY INSTITUTE FEDERAL RESERVE BANK OF NEW YORK FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKET LIBERALIZATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FOREIGN EXCHANGE FUNDS TRANSFER SYSTEMS GLOBALIZATION GOVERNMENT SECURITIES GROSS SETTLEMENT GROSS SETTLEMENT SYSTEM GROUP OF TEN ICSD IFIS INFORMATION SYSTEMS INFORMATION TECHNOLOGIES INTERBANK PAYMENTS INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL MONETARY FUND INTEROPERABILITY INVESTMENT SERVICES ISIN LATIN AMERICAN LEGAL FRAMEWORK MAGNETIC INK CHARACTER RECOGNITION MARKET PARTICIPANTS MICR MIDDLE EAST MONEY LAUNDERING NET SETTLEMENT NETWORKS NORTH AFRICA OTC OVERSIGHT OF PAYMENT SYSTEMS PAYMENT ARRANGEMENTS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS PAYMENTS SYSTEM PAYMENTS SYSTEMS POINT OF SALE PUBLIC DEBT PUBLIC KEY INFRASTRUCTURE PUBLIC POLICY PVP REGULATORY FRAMEWORK RETAIL PAYMENT SYSTEMS RETAIL PAYMENTS RISK SHARING RTGS SADC SAN SECURITIES SECURITIES COMMISSIONS SECURITIES TRADING SETTLEMENT RISKS SETTLEMENT SYSTEMS SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION SOUTHERN AFRICAN DEVELOPMENT COMMUNITY SUBSIDIARY SYSTEMIC RISK TECHNICAL ASSISTANCE TECHNOLOGICAL CAPABILITIES TECHNOLOGICAL DEVELOPMENT TRANSMISSION OF MONETARY POLICY TRANSPARENCY TRINIDAD AND TOBAGO Cirasino, Massimo Guadamillas, Mario García, José Antonio Montes-Negret, Fernando Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean |
| geographic_facet |
Latin America & Caribbean |
| description |
The payments and securities settlement
system is the infrastructure (comprising institutions,
instruments, rules, procedures, standards, and technical
means) established to effect the transfer of monetary value
between parties discharging mutual obligations. A securities
clearance and settlement system can be considered as part of
the overall payment mechanisms of a country, in that it
satisfies the main features of this overall definition The
purpose of this book is to (a) extract the main lessons and
experiences of the Western Hemisphere Payments and
Securities Clearance and Settlement Initiative - Western
Hemisphere Payments and Securities Settlement Forum
(WHI-WHF) regarding the implementation of various reforms;
(b) describe status of and major trends in payments and
securities settlement systems worldwide and their
implications for the LAC region; (c) summarize the detailed
assessment findings for each LAC country in the following
fields: (1) legal and regulatory framework, (2) main
characteristics of the inter-bank exchange and settlement
circuits, (3) retail settlement systems, (4) the role of the
government as a major participant in the payments system,
(5) foreign exchange and cross-border settlement, (6) the
operation of the inter-bank money market, (7) aspects
related to securities settlement such as the legal
framework, clearance and settlement processes, settlement
risks, operational reliability, custody, depositories'
organizational arrangements, cross-border links, and (8) the
oversight role of the central bank, coordination with the
regulatory and supervisory role over securities settlement,
and cooperation with the private sector; and (d) propose
practical observations regarding the implementation of
payments and securities settlement system reforms in the LAC region. |
| format |
Publications & Research :: Publication |
| author |
Cirasino, Massimo Guadamillas, Mario García, José Antonio Montes-Negret, Fernando |
| author_facet |
Cirasino, Massimo Guadamillas, Mario García, José Antonio Montes-Negret, Fernando |
| author_sort |
Cirasino, Massimo |
| title |
Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean |
| title_short |
Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean |
| title_full |
Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean |
| title_fullStr |
Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean |
| title_full_unstemmed |
Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean |
| title_sort |
reforming payments and securities settlement systems in latin america and the caribbean |
| publisher |
Washington, DC : World Bank |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2007/01/7299376/reforming-payments-securities-settlement-systems-latin-america-caribbean http://hdl.handle.net/10986/6630 |
| _version_ |
1764398186952130560 |
| spelling |
okr-10986-66302021-04-23T14:02:26Z Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean Cirasino, Massimo Guadamillas, Mario García, José Antonio Montes-Negret, Fernando ACH AMF ARAB MONETARY FUND ATM BANK FOR INTERNATIONAL SETTLEMENTS BANK OF JAMAICA BANK OF SPAIN BANKING SUPERVISION CAPITAL MARKETS CDS CEMLA CENTRAL BANK REGULATION CENTRAL BANKS CHARACTER RECOGNITION CLEARING HOUSE CLEARING MEMBERS CLEARINGHOUSE COMMERCIAL BANKS COMMITTEE ON PAYMENT AND SETTLEMENT SYSTEMS COMPONENTS CONTAGION CONTRACT ENFORCEMENT COPYING COUNTERPARTY CPSS CSD CUSTODY CUSTODY RISK DELIVERY VERSUS PAYMENT DEPOSITORY DEPOSITS DERIVATIVES DVP E-MAIL EASTERN CARIBBEAN CENTRAL BANK ECONOMICS EFTPOS ELECTRONIC FUNDS ELECTRONIC FUNDS TRANSFER EMERGING MARKETS EMI END USERS EUROPEAN MONETARY INSTITUTE FEDERAL RESERVE BANK OF NEW YORK FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKET LIBERALIZATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FOREIGN EXCHANGE FUNDS TRANSFER SYSTEMS GLOBALIZATION GOVERNMENT SECURITIES GROSS SETTLEMENT GROSS SETTLEMENT SYSTEM GROUP OF TEN ICSD IFIS INFORMATION SYSTEMS INFORMATION TECHNOLOGIES INTERBANK PAYMENTS INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL MONETARY FUND INTEROPERABILITY INVESTMENT SERVICES ISIN LATIN AMERICAN LEGAL FRAMEWORK MAGNETIC INK CHARACTER RECOGNITION MARKET PARTICIPANTS MICR MIDDLE EAST MONEY LAUNDERING NET SETTLEMENT NETWORKS NORTH AFRICA OTC OVERSIGHT OF PAYMENT SYSTEMS PAYMENT ARRANGEMENTS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS PAYMENTS SYSTEM PAYMENTS SYSTEMS POINT OF SALE PUBLIC DEBT PUBLIC KEY INFRASTRUCTURE PUBLIC POLICY PVP REGULATORY FRAMEWORK RETAIL PAYMENT SYSTEMS RETAIL PAYMENTS RISK SHARING RTGS SADC SAN SECURITIES SECURITIES COMMISSIONS SECURITIES TRADING SETTLEMENT RISKS SETTLEMENT SYSTEMS SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION SOUTHERN AFRICAN DEVELOPMENT COMMUNITY SUBSIDIARY SYSTEMIC RISK TECHNICAL ASSISTANCE TECHNOLOGICAL CAPABILITIES TECHNOLOGICAL DEVELOPMENT TRANSMISSION OF MONETARY POLICY TRANSPARENCY TRINIDAD AND TOBAGO The payments and securities settlement system is the infrastructure (comprising institutions, instruments, rules, procedures, standards, and technical means) established to effect the transfer of monetary value between parties discharging mutual obligations. A securities clearance and settlement system can be considered as part of the overall payment mechanisms of a country, in that it satisfies the main features of this overall definition The purpose of this book is to (a) extract the main lessons and experiences of the Western Hemisphere Payments and Securities Clearance and Settlement Initiative - Western Hemisphere Payments and Securities Settlement Forum (WHI-WHF) regarding the implementation of various reforms; (b) describe status of and major trends in payments and securities settlement systems worldwide and their implications for the LAC region; (c) summarize the detailed assessment findings for each LAC country in the following fields: (1) legal and regulatory framework, (2) main characteristics of the inter-bank exchange and settlement circuits, (3) retail settlement systems, (4) the role of the government as a major participant in the payments system, (5) foreign exchange and cross-border settlement, (6) the operation of the inter-bank money market, (7) aspects related to securities settlement such as the legal framework, clearance and settlement processes, settlement risks, operational reliability, custody, depositories' organizational arrangements, cross-border links, and (8) the oversight role of the central bank, coordination with the regulatory and supervisory role over securities settlement, and cooperation with the private sector; and (d) propose practical observations regarding the implementation of payments and securities settlement system reforms in the LAC region. 2012-05-30T13:13:14Z 2012-05-30T13:13:14Z 2007 http://documents.worldbank.org/curated/en/2007/01/7299376/reforming-payments-securities-settlement-systems-latin-america-caribbean 0-8213-6635-1 http://hdl.handle.net/10986/6630 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC : World Bank Publications & Research :: Publication Publications & Research :: Publication Latin America & Caribbean |