The use of non-cash payment schemes is particularly widespread in France where the number of non-cash transactions is in fact well above the European average. Though they have different features corresponding to users’ varying needs (payments may be face-to-face, remote or recurring, for...

Alongside consolidation and globalisation of the financial markets, the increase in values exchanged in payment and settlement systems has been remarkable. The size of intraday liquidity requested to expedite settlement of such values is accordingly very significant, especially compared to...

As the last stage in the risk-prevention programme for the Paris financial centre, the securing of deferred net settlement systems concerns the SIT interbank clearing system, the retail payment system for customer transactions, and Relit, the securities delivery-versus-payment system, which in...

Post-market infrastructures execute critical functions — clearing and delivery versus payment — for the performance of trades in financial assets. This makes them potential vectors for destabilisation of the financial system in the event of malfunctions. Their impact on systemic risk...

L’utilisation d’infrastructures de marché, notamment de chambres de compensation, renforce la transparence et la solidité des marchés dérivés de gré à gré, mais implique que leur gestion de risques soit en mesure de résister à un choc systémique.