Italy: Detailed Assessment of Compliance with the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems

International Monetary Fund

No 2004/132, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents findings of the Detailed Assessment of Italy’s Compliance with the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems. At present, the Italian banking system is subject to significant challenges resulting from slowing economic growth, and low and declining interest rates, which have resulted in pressures on margins and a need to diversify sources of income. Banca d’Italia RTGS System for Large-Value Payments (BIREL) enables participants to make final and irrevocable transfers between the settlement accounts they hold with the Banca d’Italia.

Keywords: ISCR; CR; BIREL participant; payment system; membership agreement; banking system; settlement procedure; system BIREL; BIREL system; BI website; BI rule; BIREL payment flow; member state; BIREL newsletter; Payment systems; Real time gross settlement systems; Securities; Legal support in revenue administration; Operational risk; Global (search for similar items in EconPapers)
Pages: 52
Date: 2004-05-14
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