Central Banking

New payment systems need cbank monitoring-ECB

SPEECH - New cross-border payments initiatives need to be closely monitored by central banks to ensure they are as safe and solid as dealing direct with central banks, a European Central Bank board member said on Apr 2, 2001.

Tommaso Padoa-Schioppa told an industry conference in London that the introduction of the euro and banking mergers had led to consolidation in cross-border payments systems and that this process was set to continue.

Settlement initiatives, such as the currency market's CLS

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