Intra-day liquidity and real-time gross settlement - 18 months on

Tim Hampton
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Tim Hampton: Reserve Bank of New Zealand

Reserve Bank of New Zealand Bulletin, 1999, vol. 62, No 4

Abstract: Last year the Reserve Bank and the New Zealand banking system shifted to a system of real-time gross settlement (RTGS) for large wholesale payments, as a way of substantially reducing the level of risk associated with the inter- bank settlement process. This article explains the choices made as to how to provide the additional liquidity, reviews the successful first 18 months of the new system, and outlines some refinements that have recently been announced.

Date: 1999
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