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The international payments system might be in trouble, with serious implications everywhere.
The United States payments system is the largest in the world.
But they said the prospect of "major disruptions" in the payments system was at hand.
The security breach revealed the vulnerabilities of the payments system.
If they were disabled for that purpose, the payments system would be seriously damaged.
It is not new auditors that are required, but a new payments system.
The Fed, he claims, has resisted the development of a truly efficient national electronic payments system.
However, this is not going to happen while maintaining the current direct payments system, which is ridiculous.
That means making the direct payments system - I don't know whether you use it - a lot simpler and less bureaucratic.
They said that competition was intense and that online payments systems were problematic.
The banking system, the key to the payments system and a smoothly functioning economy, could not be put at such risk.
The worry: a global payments system that is beyond the capacity of governments to understand, let alone regulate wisely.
Some payments systems had previously agreed to pay and receive obligations to the whole system, rather than merely maintaining their own.
Promoting a sound credit and payments system both internationally and internally.
That would solve the immediate problems of securing the payments system and keeping the deposit insurance fund in the black.
We want to stick with our historic payments system and we do not like increased modulation.
In return, banks could be asked to beef up reserves, protecting the payments system against unanticipated crises.
While Congress expanded the payments system, it did not tell the Government specifically how to implement it.
Their vision encompasses not just cash but also the huge portion of the payments system that runs, almost as archaically, by check.
"The payments system is where defaults would take place," Mr. Bryan said.
That would seriously damage the payments system at the busiest time of the year, namely the last few days of December.
I therefore believe that as from 2013, the direct payments system must guarantee the fair treatment of all farmers throughout the European Union.
Is my right hon. Friend also aware that there is concern about the efficiency of the cold weather payments system?
By the following week, it was likely the the entire payments system would have shut down along with ATM's.
The current members of the Payments System Board are: