People’s Republic of China: Detailed Assessment Report: CPSS Core Principles for Systemically Important Payment Systems

April 5, 2012

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Format: Chicago

People’s Republic of China: Detailed Assessment Report: CPSS Core Principles for Systemically Important Payment Systems, (USA: International Monetary Fund, 2012) accessed November 23, 2024

Summary

The assessment report on the observance of China’s compliance with the Committee for Payment and Settlement System's core principles for systemically important payment systems is examined. Domestic foreign exchange transactions are mostly executed at the China Foreign Exchange Trade Center. Domestic payments are handled through a diverse variety of payment systems, mainly operated by the People's Bank of China, except for cards and some local clearinghouses. Real-time remittances, bills, and cheque-clearing services are widely available to the financial institutions serving the rural areas.

Subject: Banking, Commercial banks, Currencies, Financial institutions, Financial markets, Legal support in revenue administration, Money, Payment systems, Revenue administration, Securities

Keywords: Backup system, Central bank, Commercial banks, CR, Credit risk, Currencies, Foreign currency, Global, ISCR, Legal support in revenue administration, Payment system, Payment systems, Risk management, Securities, Settlement system, System participant

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/081
Stock No:

1CHNEA2012004
ISBN:

9781475502992
ISSN:

1934-7685

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