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Developing the National Payments System BCPNG Business Breakfast 4 December 2009. ORGANISATION STRUCTURE. BOARD. Governor Board Chairman Registrar of Savings & Loan Societies. Internal Audit. Secretariat. Deputy Governor, Policy. Deputy Governor, Regulation. Ass’t Governor, Operations.
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Registrar of Savings & Loan Societies
Deputy Governor, Policy
Deputy Governor, Regulation
Ass’t Governor, Operations
Super. & Life Insurance Supervision
Finance & Accounting
The National Payments System (NPS) of a country encompasses everything to do with the movement of money from payer to payee.
It covers all phases of payment from initial offer of a payment instrument to final settlement.
It is the essential lubrication mechanism for the engine of the economy.
“Real” Economy (Buying & Selling)
Interbank Transfer (Clearing) Systems
Cash Mgmt System
Treasury System (Govt.)
Commercial Banks’ Systems
Primary Market Auction
Secondary Market Trading
Card Clearing Centre(s)
Foreign Exchange Market
Interbank Money Market
Best modern practice is to have the ATS and CSD systems very closely coupled. Why?
Two main reasons:
Delivery versus Payment (DvP)
Intraday liquidity management in the ATS
“.... improve payment, clearing and settlement systems to:
(2005-2008 Strategic Plan)
Analysis of present NPS
Vision and Strategy for future NPS
Structure for co-operation (National Payments Council)
Supporting legislation & regulations
Automated Transfer System
Central Securities Depository
Institution-independent card switch
Electronic payment systems for the unbanked
ATS will handle:
High value payments (RTGS functionality)
Low value/high volume payments (ACH functionality)
Electronic record of securities
Electronic auction functionality
Both systems tightly-coupled
ATS (and card switch) will provide a sound platform for introduction of more innovative systems
For example, mobile phone-based systems
Could be offered widely through NBFIs
Decision for the market, not BPNG