Bundesbank ups compatibility of clearing system
The Bundesbank and Equens, a European payments processor, on Monday announced the establishment of a bilateral link between their clearing and settlement mechanisms.
Clearing and settlement mechanisms (CSM) are the systems which allow information to be exchanged and the final settlement amounts to be calculated. The Bundesbank said the deal would enable Sepa Clearer, the retail payment system of its CSM, to function alongside Equens's CSM in processing Single Euro Payments Area (Sepa) credit
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