Risks in Payment Systems, Oversight and Security

Dominique Rambure and Alec Nacamuli

Chapter 4 in Payment Systems, 2008, pp 52-68 from Palgrave Macmillan

Abstract: Abstract Intermediating and evaluating risk is the essence of banking and the basis for remunerating financial services. The Florentine banker Cosimo de Medici (1389–1464) would instruct his foreign representatives not to lend to princes who never repaid, but to limit themselves to financing reputable and competent merchants, relying upon reputation and the judgement of his staff as no rating agencies were active then.

Keywords: Central Bank; Credit Risk; Payment System; Service Level Agreement; Liquidity Risk (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-22721-7_4

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DOI: 10.1057/9780230227217_4

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