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- Title
Tiering in CHAPS.
- Authors
Finan, Kevin; Lasaosa, Ana; Sunderland, Jamie
- Abstract
The article reports on the concept of tiering in payment systems and the risks associated with tiered participation in CHAPS, Great Britain's high-value sterling payment system. Topics discussed include features of tiering, efforts of the Bank of England to increase direct participation in CHAPS, impact of the CHAPS on the country's economic development. It informs that tiering may result in the credit, liquidity and operational risk between the indirect participant and the settlement bank.
- Subjects
UNITED Kingdom; PAYMENT systems; BANKING industry automation; CHAPS Co.; ECONOMIC development; CREDIT risk; OPERATIONAL risk
- Publication
Bank of England Quarterly Bulletin, 2013, Vol 53, Issue 4, p371
- ISSN
0005-5166
- Publication type
Article