| Author: | Greganovic, B. |
| Title: | Analysis of payment systems |
| Journal: | Bancni vestnik
1995 : VOL. 44:5, p. 5-13 |
| Index terms: | |
| Freeterms: | payments, systems, analysis, structure, instruments of payment, institutions, central banks, risk |
| Language: | slv |
| Abstract: | The article offers an overview of the structure and key terms as well as differences in the structure of payment systems.It consists of three chapters.The first chapter starts by giving a definition of the objective and structure of the payment system.Next it introduces the key terms and differences: an order to pay, implementation of the order, clearing and settlement, cash and non-cash payments, regular payments andmajor creditors, charge cards, payments in retailing and wholesaling, domestic and foreign payments, electronic and paper payment systems; market inefficiencies.The first chapter ends by discussion on the two groups of payment system institutions: suppliers of payment services and institutions of control.The second chapter deals with the role of the central bank in the payment system and consists of i) justification of the active role of the central monetary institution in the market for payments services and ii) an overview of those fields in which the participation of the central bank is indispensable.The last chapter of the article deals with the question of risk in the payment system.It introduces three basic types of risk; next, it focuses on the analysis of financial risks.Within this context the author explains two basic types of risk: credit risk and time risk.The last part of the article brings an in depth presentation of techniques of control over risks in the payment system. |
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