Regulated Liability Network
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Central bank digital currencies (CBDC) - financial market infrastructures (FMI)
(RLN).
A regulated liability network is a proposal under discussion for a new global settlement infrastructure.
Proposals include the concept of a shared ledger with central bank money, commercial bank money and electronic money on the same network.
- RLN benefits
- "The RLN project seeks to accommodate central bank, commercial bank and regulated non-bank transactions operating within “partitions” on a single network.
- The RLN would be a regulated financial marketplace infrastructure in the UK with contributors from financial institutions worldwide.
- The RLN discovery phase examined three potential use cases for the network — consumer domestic payment, wholesale cross-border payment and securities settlement — and settled on the first case to pursue a proof-of-concept (PoC)...
- The report found that the RLN provided several benefits for domestic payments.
- It helped provide consistency between CBDCs and commercial bank money, thus helping preserve the singularity of the currency.
- It could also help reduce authorised push payment fraud and give consumers more control in case of undelivered goods.
- Additionally, it would improve settlement time."
- Association of Corporate Treasurers blog - September 2023.
See also
- APP fraud
- BACS
- Bank of England
- Central bank digital currency (CBDC)
- CHAPS
- Clearing House Automated Payment System
- Commercial bank money
- Committee on Payments and Market Infrastructures (CPMI)
- Continuous linked settlement (CLS)
- Electronic money
- Faster Payments Service (FPS)
- Financial Market Infrastructure (FMI)
- Financial markets
- Infrastructure
- LVPS
- Markets in Financial Instruments Regulation
- Network
- Network effects
- Network science
- Payment infrastructure
- Principles for Financial Market Infrastructures (PFMI)
- Proof of concept
- Regulation
- Settlement
- Systemic risk
- Systemically Important Payment System (SIPS)
