10 Payment System Float and Float Management
Author:
Mr. Bruce J. Summers https://isni.org/isni/0000000404811396 International Monetary Fund

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Language:
English
Print Publication Date:
15 Dec 1994
Keywords:
BOOK; payment; central bank; bank; payment order; value; bank customer; bank Y; customer account; bank cash management service; bank compensation rule; Payment systems; Commercial banks; Fiscal accounting and reporting; Credit; Transportation

Abstract

The payment process consists of clearing—the transfer of payment instructions—and settlement—the transfer of value associated with a payment. When the value being transferred takes the form of deposit money in banks, the performance of back-office accounting becomes an important part of the payment process and is a crucial factor determining who has the benefit of the value being transferred at any instant in time. In an ideal payment system, processing and related accounting should result in the payor’s account being debited and the payee’s account being credited at the same time.

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Cover The Payment System
The Payment System
Design, Management, and Supervision
ISBN:
9781557753861
Publication Date:
15 Dec 1994
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557753861.071
Pages:
232