The Development of the Theory of Oversight of Payment Systems and Definition of Its Essence
The article is aimed at deepening the theoretical foundations of oversight payment systems together with the main directions of its implementation. Development of the theory of oversight payment systems from the foundation of the Committee on the schemes of interbank netting and to the contemporary...
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| Format: | Article |
| Language: | English |
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Research Centre of Industrial Problems of Development of NAS of Ukraine
2017-11-01
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| Series: | Bìznes Inform |
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| Online Access: | http://www.business-inform.net/export_pdf/business-inform-2017-11_0-pages-362_371.pdf |
| Summary: | The article is aimed at deepening the theoretical foundations of oversight payment systems together with the main directions of its implementation. Development of the theory of oversight payment systems from the foundation of the Committee on the schemes of interbank netting and to the contemporary understanding of the term was investigated. Theoretical approaches to definition of the essence of oversight payment systems have been deepened by allocating two of its main directions: monitoring and bringing the payment systems into line with international standards. It is suggested to classify the approaches of central banks to the implementation of oversight in accordance with the nature, levels, orientation of implementation, as well as with the legislative right to the implementation of oversight by the central bank. In addition, the relationship has been determined and it has been differentiated between the concepts and activities concerning the «oversight payment systems» and «regulation of payment systems». The main steps, taken by the National Bank of Ukraine to implement the function of oversight payment systems, have been defined. |
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| ISSN: | 2222-4459 2311-116X |