US Dollar Instruments

Collection and Settlement

System

US Dollar Instruments Collection and Settlement System

Introduction

Objectives

Mandatory requirements

Processing cycle

Settlement in Case of Insufficient Balances

Benefits

a. Profound efficiency

b. Reduction in cost

c. Less processing time

Standardization of Government

Payment Instruments

Introduction

Methodology

Objectives

Payment Systems Law

Standardization of Government Payment Instruments

Benefits

More controls over the payment process

Minimizing frauds

Efficiency & accuracy

Reduced turn-around time for stakeholders

Real Time Gross

Settlement

Concept designed to achieve sound risk management in the

settlement of inter-bank payments.

Transactions are settled across accounts held at the central

bank.

Settlement is immediate, final and irrevocable.

Operate accounts in real time from their own premises via

computerized network b/w central & participating banks.

Shortage would be catered in the system through intra-day

repurchase agreements.

Transaction can also be queued in the system.

Real Time Gross Settlement

PRISM(RTGS in Pakistan)

Introduction

Features of PRISM

Automation

Receive funds with certainty

Efficiency in clearing

RTGS Service Bureaus

SWIFT message format

Initial members

Banks collateralized against govt securities

Queue management features

Government securities portfolios

Data security

Centralized netting

Impact of PRISM

Elimination of settlement risks

Monitoring of payments

Efficient use of liquidity

Time critical payments

Low cost interface for SWIFT

Connection with international payment systems

Conduction of OMO

NIFT’s role in the

implementation of RTGS at

The State Bank of Pakistan

RTGS SBPCENTRES

BANK’S TREASURY

BANK’S REGIONS / BRANCHES

The Solutio

n

CONCLUSION

Thank You