People’s Republic of China: Detailed Assessment Report: CPSS Core Principles for Systemically Important Payment Systems
IMF Staff Country Reports, April 5, 2012
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- People’s Republic of China: Detailed Assessment Report: CPSS Core Principles for Systemically Important Payment Systems
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Bibliographic details
- Published: April 5, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475502992.002
Summary findings
- The assessment report examines the observance of China’s compliance with the Committee for Payment and Settlement System's core principles for systemically important payment systems.
- 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.
Payment system structure and operators
- Primary operator for domestic payment systems: People's Bank of China (with exceptions).
- Exceptions to PBOC operation:
- Card payment systems.
- Some local clearinghouses.
- FX transaction execution hub: China Foreign Exchange Trade Center.
Access and service coverage
- Real-time remittances are widely available to financial institutions serving rural areas.
- Bills-clearance services are widely available to financial institutions serving rural areas.
- Cheque-clearing services are widely available to financial institutions serving rural areas.
Scope, subjects, and keywords
- Pages: 57
- Volume: 2012
- Issue: 081
- Series: Country Report No. 2012/081
- DOI: https://doi.org/10.5089/9781475502992.002
- Stock No: 1CHNEA2012004
- ISBN: 9781475502992
- ISSN: 1934-7685
- Subject areas: 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
Content in this bundle
- _cr1281 — Executive Summary and Assessment of China’s Payment and Settlement Systems