Introduction to Payments and Financial Market Infrastructures

• Autore: Bindseil Ulrich
• Pubblicazione: Cham : , : Springer, , 2023; ©2023
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (160 pages)
• Disciplina: 332.0415
• Altri autori: PantelopoulosGeorge
• Nota di contenuto: Intro -- Preface -- Contents -- 1: Introduction -- 1.1 Basic Principles and Definitions -- 1.2 FMIs Policy Issues -- 1.3 The Role of Central Banks for FMIs -- 1.4 Payment and Settlement as Changes to Financial Accounts -- 1.5 Financial Messages -- 1.6 The Multi-Layer Structure of the Financial Money System -- References -- 2: Risks, Regulation and Oversight of FMIs -- 2.1 Risks in Payments and FMIs -- 2.2 Mitigating Risks -- 2.3 Legal Certainty Issues -- 2.4 Regulation, Supervision and Oversight of FMIs -- 2.5 Principles for Financial Market Infrastructures -- 2.6 Implementation of the PFMIs: The Example of the EU -- References -- 3: Retail Payments -- 3.1 Payments and Means of Payments -- 3.2 A Brief History of Payments -- 3.3 Retail Payment Instruments, Schemes and Arrangements -- 3.3.1 Payment Instruments -- 3.3.2 Payment Schemes -- References -- 4: Payment Systems -- 4.1 Introduction -- 4.2 Real-Time Gross Settlement vs Deferred Net Settlement Systems -- 4.2.1 RTGS Systems -- 4.2.2 Deferred Net Settlement Systems -- 4.3 Large Value Payment Systems vs Retail Payment Systems -- 4.4 Layers in Payments and Financial Accounts Illustrations -- 4.4.1 Single Settlement Layer Payments -- 4.4.2 Double Settlement Layer Payments -- 4.4.3 Triple Settlement Layer Payments -- References -- 5: Cross-Border Payments -- 5.1 Introduction -- 5.2 A Brief History of Cross-Border Payments and Their Universal Challenges -- 5.3 Correspondent Banking -- 5.4 Correspondent Banking as a Solution for Domestic Payments? -- 5.5 Cross-Border Payment Fintechs Present in Multiple Countries -- 5.6 Global Stablecoins -- 5.7 Interlinking Domestic Payment Platforms with a Competitive FX Conversion Layer -- 5.8 How Will Cross Border Payments Progress Further? -- References -- 6: Central Counterparties -- 6.1 Introduction -- 6.2 Key Activities of CCPs. ; 6.3 Risk Management Framework for CCPs -- 6.4 Financial Account Illustration of Central Clearing Through CCPs -- 6.5 Performance of CCPs in Times of Market Stress -- References -- 7: FX Operations and CLS -- 7.1 Introduction -- 7.2 Herstatt Risk and the Origins of CLS -- 7.3 CLS Operational Framework -- 7.4 FX Trade: non-PvP Settlement Outside CLS -- 7.5 FX Trade: PvP Settlement Through CLS -- References -- 8: Central Securities Depositories -- 8.1 Introduction -- 8.2 Key Activities of CSDs -- 8.3 The CSD and ICSD Landscape -- 8.4 Domestic Securities Settlement -- 8.4.1 Domestic Securities Settlement in Commercial Bank Money -- 8.4.2 Non-DvP Securities Settlement in Central Bank Money -- 8.5 Cross-Border Securities Custody: Example of Sanctions Against Russia -- 8.6 TARGET2 Securities -- References -- 9: Unbacked Crypto-Assets, Stablecoins and CBDC -- 9.1 Introduction -- 9.2 Unbacked Crypto-Assets -- 9.2.1 Bitcoin -- 9.2.2 Decentralised Finance, Ethereum and Business Applications of Blockchain and DLT -- 9.2.3 The Crypto Winter of 2022 -- 9.3 Stablecoins -- 9.3.1 Some Stablecoin Initiatives -- 9.3.2 Policy Issues and Regulation of Stablecoins -- 9.4 Central Bank Digital Currency -- 9.4.1 Introduction -- 9.4.2 Reasons for Issuing Retail CBDC and Opposition -- 9.4.3 Flow of Funds of CBDC Creation and Transfers -- 9.4.4 Issuing a CBDC: The Many Design Challenges in Practice -- 9.5 Conclusion: The Future of Money and Payments -- References -- Index.
• Titolo autorizzato: Introduction to Payments and Financial Market Infrastructures
• ISBN: 3-031-39520-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910755072703321
• Lo trovi qui: Univ. Federico II
• Serie: Springer Texts in Business and Economics Series