Occasional Paper
The Reform of Wholesale Payment Systems and its Impact on Financial Markets
Author(s): Folkerts-Landau, David; Garber, Peter; Schoenmaker, Dirk
Year: 1996
Pages: 60
ISBN: 1-56708-096-0
Central banks are reducing systemic risk by reducing intra-day credit exposures in wholesale payment systems. However, this change will also reduce liquidity in financial markets and may shift payments into private payment systems and into dollar-denominated transactions.
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