NIFT Presentation
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Transcript of NIFT Presentation
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