Direct participant in an IFTS: Difference between revisions
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imported>Doug Williamson (Layout.) |
imported>Doug Williamson (Expand. Source BOE http://www.bankofengland.co.uk/markets/Pages/paymentsystem/accessaccounts.aspx) |
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A participant in an interbank funds transfer system (IFTS) which is responsible to the settlement agent (or to all other direct participants) for the settlement of its own payments, those of its customers, and those of the indirect participants on whose behalf it is settling. | A participant in an interbank funds transfer system (IFTS) which is responsible to the settlement agent (or to all other direct participants) for the settlement of its own payments, those of its customers, and those of the indirect participants on whose behalf it is settling. | ||
Direct participants hold reserve accounts at the central bank. | |||
== See also == | == See also == | ||
* [[Central bank]] | |||
* [[Indirect participant in an IFTS]] | * [[Indirect participant in an IFTS]] | ||
* [[Interbank Funds Transfer System]] | * [[Interbank Funds Transfer System]] | ||
* [[Participant in an FTS]] | * [[Participant in an FTS]] | ||
* [[Reserves account]] | |||
Revision as of 10:07, 15 August 2016
A participant in an interbank funds transfer system (IFTS) which is responsible to the settlement agent (or to all other direct participants) for the settlement of its own payments, those of its customers, and those of the indirect participants on whose behalf it is settling.
Direct participants hold reserve accounts at the central bank.
