The payments and securities settlement system is the infrastructure (comprising institutions, instruments, rules, procedures, standards, and technical means) established to effect the transfer of monetary value between parties discharging mutual obligations. A securities clearance and settlement...

In the Latin America and Caribbean Region (LAC) efforts to raise the awareness of the importance of modernizing national payments systems were formalized in 1999 through the "Western Hemisphere Payments and Securities Clearance and Settlement Initiative" (WHI), dedicated to the assessment of...