Interchange and Sterling Monetary Framework: Difference between pages

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imported>Doug Williamson
m (Amend wording.)
 
imported>Doug Williamson
(Create the page. Source: Bank of England webpage http://www.bankofengland.co.uk/markets/Pages/money/default.aspx)
 
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1.  ''Payments - cards - charges.''
''UK central bank oversight.''


Interchange fees or charges relate to credit cards, debit cards, and other cards.
(SMF).


Interchange charges are levied by the merchant acquiring company (normally a bank or other financial institution that "buys” the transactions from the retailer at a discount).  
The Sterling Monetary Framework (SMF) describes the Bank of England's operations in the sterling money markets.


They include transaction fees for debit cards and turnover fees for credit cards charged by the card acquirer that processes card payments on behalf of the retailer.  
The SMF includes:
*Operational Standing Facilities (OSFs).
*Liquidity insurance.


Interchange charges are often negotiable and depend on the volume of transactions, the average transaction size, the method of processing and the credit quality of the transactions.


The SMF's purposes are to:
*Implement the Bank of England's Monetary Policy Committee's (MPC's) decisions in order to meet the inflation target.
*Reduce the risk and cost to the UK economy of any disruption to the critical financial services provided by banks and other participants in the SMF.


2.  ''Information technology.''


The transmission or exchange of electronic information, usually following a prescribed format such as ASCII.
==See also==
 
*[[Bank of England]]
 
*[[Financial Policy Committee]]
3.  ''Exchange and substitution.''
*[[Inflation]]
 
*[[Liquidity insurance]]
Any mutual transfer or substitution, either virtual or physical.
*[[Monetary policy]]
 
*[[Monetary Policy Committee]]
 
*[[Money market]]
== See also ==
*[[Operational Standing Facilities]]
* [[Acquirer]]
*[[Sterling]]
* [[ASCII]]
* [[Credit]]
* [[Credit card]]
* [[Debit card]]
* [[Emerging Payments Association]]
* [[Information technology]]
* [[Pay]]
* [[Payment]]
* [[Payments and payment systems]]
* [[PSOR]]
* [[Receipt]]
* [[Remittance]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Cash_management]]
[[Category:Financial_products_and_markets]]
[[Category:Liquidity_management]]
[[Category:Technology]]

Revision as of 15:45, 7 August 2016

UK central bank oversight.

(SMF).

The Sterling Monetary Framework (SMF) describes the Bank of England's operations in the sterling money markets.

The SMF includes:

  • Operational Standing Facilities (OSFs).
  • Liquidity insurance.


The SMF's purposes are to:

  • Implement the Bank of England's Monetary Policy Committee's (MPC's) decisions in order to meet the inflation target.
  • Reduce the risk and cost to the UK economy of any disruption to the critical financial services provided by banks and other participants in the SMF.


See also