interbank settlement

Reference is made in this context to the level of the so-called 'interbank settlement payments'.

Prior to the launch of CHATS as a RTGS system, interbank settlements in Hong Kong relied on a multi-tier system which settled in a daily net basis.

A report by the IMF in 2000 based upon interbank settlement figures estimated the crossborder cash held on-balance sheet at US$4.6 billion, although this included major U.S. and European financial centres.

Article 25 of the Banking Code, provides that one of the main functions of the NBRB is to ensure efficient, reliable and safe functioning of the interbank settlement system, and prescribes procedures for cash and non-cash settlements in the Republic of Belarus.