Risk Management and Public Policy in Payment, Clearing and Settlement Systems

@inproceedings{Dale1998RiskMA,
  title={Risk Management and Public Policy in Payment, Clearing and Settlement Systems},
  author={Richard Dale},
  year={1998}
}
In recent years regulators have been increasingly focusing their attention on payment, clearing and settlement systems on the grounds that any serious disruption to the settlement process could have widespread systemic consequences. These concerns embrace wholesale interbank payment systems, foreign-exchange settlement, securities settlement and derivatives clearing houses. There is, however, a dilemma for regulators insofar as their active involvement in the settlement process can lead to… CONTINUE READING