Description
Drawing on wide-ranging contributions from prominent international experts and discussing some of the most pressing issues facing policy makers and practitioners in the field of payment systems today, this volume provides cutting-edge perspectives on the current issues surrounding payment systems and their future.It covers a range of continually im
Table of Contents
Introduction Part 1: Payment Systems and Public Policy - Central Banks and Payment Systems: Past, Present and Future. The Core Role of Central Banks in Payment Systems.Challenges for Research in Payments.Payment Economics and the Role of Central Banks Part 2: New Approaches to Modelling Payments - New Models of Old Payment Questions. Optimal Settlement Rules for Payment Systems.The Microstructure of Money Part 3: Current Payment Policy Issues - Wholesale Payments: Questioning the Market-Failure Hypothesis. Central Bank Intraday Collateral Policy and Implications for Tiering in RTGS Payment Systems.Central Banks’ Interest Calculating Conventions: Deviating from the Intraday/Overnight Status Quo. How Should we Regulate Banks’ Liquidity? Part 4: Policy Perspectives on the Future of Payments. The Diffusion of Real-Time Gross Settlement.E-Settlement: Soon a Reality?Real-Time Liquidity Management in a Globally Connected Market.Will Central Banking Survive Electronic Money?Payment Systems and Central Banks: Where are we Now and where will E-Payments take us?
