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Payment Systems in Global Perspective » (New Edition)

Book cover image of Payment Systems in Global Perspective by Maxwell J. Fry

Authors: Maxwell J. Fry
ISBN-13: 9780415207645, ISBN-10: 0415207649
Format: Hardcover
Publisher: Taylor & Francis, Inc.
Date Published: March 1999
Edition: New Edition

Author Biography: Maxwell J. Fry

Book Synopsis

This volume provides an authoritative overview by central bankers from both developed and developing countries of the complex practical and policy implications of international payments systems.

Booknews

Examines the development of payment instruments and systems in industrial, transitional, and developing economies, using information collected from central banks in 70 countries. After examining the availability and use of alternative payment instruments, analyzes their development and compares their relevant features, highlighting the design questions that have accompanied the recent adoption of real-time gross settlement systems. Then considers how the different systems impact development at different stages. Published in association with the Bank of England's Centre for Central Banking Studies. Annotation c. Book News, Inc., Portland, OR (booknews.com)

	List of Figures
	List of Tables
	Authors
	Foreword
	Acknowledgements
	Acronyms
1	Introduction	1
2	Payment Instruments	14
3	Payment Systems	27
4	Deferred Net Settlement versus Real-Term Gross Settlement for Large-Value Transfer Systems	44
5	Reserve Requirements, Liquidity and Risk	60
6	Central Bank Roles in Payment Systems	76
7	Some Links between Payment Systems, Monetary Policy, Fixed Exchange Rates and Financial Stability	96
App. 1	Payment and Settlement Systems Questionnaire	107
App. 2	Deferred Net Settlement Systems	112
App. 3	Real-Time Gross Settlement Systems	115
App. 4	Central Bank Risk Exposure	118
App. 5	Central Bank Settlement Failure Guarantee	121
App. 6	Payment System Development Strategies	123
App. 7	Separate Accounts for Required Reserves	127
App. 8	Reserve Maintenance Periods	129
App. 9	Use of Required Reserves for Payment Purposes	132
App. 10	Interest Paid on Reserves	135
App. 11	Formal Central Bank Supervision of Payment Systems	137
App. 12	Informal Central Bank Supervision of Payment Systems	140
App. 13	Commercial Bank Involvement in Payment Systems	142
App. 14	Exchange Rate Regimes and Monetary Policy	145
	Bibliography	149
	Index	155

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