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- Title
How has the Liquidity Saving Mechanism reduced banks' intraday liquidity costs in CHAPS?
- Authors
Davey, Nick; Gray, Daniel
- Abstract
The article focuses on the impact of the Liquidity Saving Mechanism (LSM) implemented by Great Britain's central bank, the Bank of England, on the intraday liquidity costs used to settle payments in the Clearing House Automated Payment System (CHAPS) since 2013. Topics discussed include the roles of CHAPS as a high-value sterling payment system, importance of intraday liquidity requirements, and the July 2010 to September 2010 study of the Bank to measure potential savings through CHAPS.
- Subjects
CENTRAL banking industry; BANK of England; LIQUIDITY (Economics); CLEARINGHOUSES (Banking); BANKING industry automation
- Publication
Bank of England Quarterly Bulletin, 2014, Vol 54, Issue 2, p180
- ISSN
0005-5166
- Publication type
Article