Settlement account

1. Central banking - Bank of England.

An account held by a direct participant in a payment or settlement system, held at the Bank of England, for the purpose of making related payments.

A reserves account already held at the Bank of England may be used as a settlement account.

2.

Similar accounts held at other central banks.

See also

• Account
• Bank of England
• Central bank
• Direct participant in an IFTS
• Gross settlement system
• Payments and payment systems
• Real-time gross settlement system
• Reserves account