Index
Account holders 74
Acquirer 133, 184
Act on Certain Means of Payment (Payment Cards Act) 140, 184
Assesment methodology 193, 201
ATMs 130
Automatic Collateralisation 83f., 183
Bank for International Settlements (BIS) 164
Banknote holdings 74
Banknotes 29, 34ff., 74
BIC 159, 161
Bills of exchange 24, 34ff.
BIS Core Principles 191, 196, 212f.
BIS/IOSCO recommendations 199, 214f.
Bypass 46
Card holder 132, 184
Card issuer 132, 184
Cash account manager 113
Central bank 9ff., 28f., 73ff., 189f., 197
Central counterparty 53, 71
Central securities depository 55, 70
Central-bank money 15, 55, 168
Central-government payments 75
Certificates of deposit 76f., 83
Cheques 127
Clearing banks 27f.
Clearing participant 111
CLS Bank (CLS) 91, 164f.
Coins 21ff., 74
Collateral basis 80
Collateral directive 179f.
Collateral value 80
Collateralisation 79f., 183f.
Commercial bank money 16, 30
Contingency plan 206
Correspondent bank 39, 43f.
Correspondent central bank model (CCBM) 85
Credeuro 163
Credit cap 156
Credit card 131
Credit risk 15, 25, 63, 65, 69
Credit transfers 129
Cross-border payments 149ff.
Current account 75, 76
Current-account limits 77
Current-account rate 75, 77
Custodian risk 70
Danish Bankers Association 104
Danish Financial Supervisory Authority 217f.
Dankort 135f.
Dankort A/S 136
Dankort agreement (2003) 140
Dankort model (2005) 139
Danmønt 127, 184
Deadlock 47f.
Debit cap 156
Debit card 130
Delivery versus Payment (DvP) 53, 69, 111, 200
Direct debit, Betalingsservice 129
Discount rate 76
Disposable amount 83, 86
DK-Kontanten 136
e-account 141
EBA Clearing 154
eDankort 136
Electronic cheque truncation 127
Electronic clearing and truncation 105
Electronic money (e-money) 146, 184, 185
Eligible securities 80
Elimination rules 115
EMV security standards 133
e-payments 139
ESCB-CESR recommendations 199
EU legislation 185f., 162
Euro Banking Association (EBA) 154
Euro payment system 149
EURO1 153f.
Euroclear Bank 59, 116f.
European Central Bank (ECB) 81
European Payments Council (EPC) 162
Externalities 13
Fedwire 10, 31
FIFO principle 46, 240
Finality directive 67, 176f.
Financial Sector Assessment Programmme (FSAP) 16, 192
Financial stability 63, 190, 195
Foreign-exchange (FX) settlement system 164
FUTOP 119
G30 (Group of Thirty) 198
Giro inpayment form 128
Gresham's law 22, 32
Gridlock 47f., 101, 221f., 240
Hague convention 180
Haircuts 80
Herstatt risk 11, 164
Hybrid systems 50f.
IBAN 159, 161
ICP 163
IMF 192
In/out swap 170
International standards 16, 195f.
Intraday credit, euro 78f., 86f.
Intraday credit, kroner 46, 78, 81f.
Joint inpayment form 128
Kronos 96f., 202f., 221f., 235f.
Kronos terminal 97
Lamfalussy standards 176, 196f.
Legal risk 63, 66, 70, 175f., 179
Lender of Last Resort 9
LeverandørService (Supplier Service) 129
Line 88, 115
Liquidity management 46f, 100f, 227ff.
Liquidity queue 46, 66, 101
Liquidity risk 15, 24, 63, 66, 70,
Loss sharing agreement 65
Loss sharing pool 156
Maximum for intraday credit 83
Means of payment 20, 125f.
Membership risk 65
Minimum Common Features for Domestic Payment Systems 197
Monetary-policy counterparty 76
Monetary-policy day 76, 88
Monetary-policy instruments 77
Moral suasion 191
m-payments 143
MTS 114
Multi-purpose card 146
Net settlement system 48f., 67f., 154
Netting (legal) 177ff.
Netting effect 51
Network externalities 13
New Legal Framework 186f.
Norex Alliance 59, 114
Nostro agent 167
Omnibus account 116
Operational risk63, 67, 70, 207
Oversight 16f, 189ff.
Pan-European Automated Clearing Houses (PEACH) 163
Payment card 133, 144
Payment instrument 125f.
Payment Systems 197
Payment versus payment 90, 119, 164
PBS (Payment Business Services) 104, 136
PBS clearing 105, 106
Pengeinstitutternes Betalingsformidlingscenter (PBC) 135
Pengeinstitutternes Købe- og Kreditkortaktieselskab (PKK) 135
Periodic payments 56, 116
Pledge 183
Poseidon module 100
Postal giro system 128
Prefund participant 160
Prepaid card 126
Pricing 47, 103
Primary cash provider 112
Principal risk 54, 69, 164
Queue facilities 46, 235f.
Real-time gross settlement system (RTGS-system) 44f., 67f., 149, 151, 166
Real-time settlement117
Recipient 132, 184
Relayed links 85
Replacement risk 69
Retail payments 48, 105, 125ff.
Risk management 197, 199
Safekeeping account 79
Saxess 114
Scandinavian Cash Pool (SCP) 84f.
SECUR 120
Securities lending 70
Securities settlement system 52f., 69f.
Securities Trading Act 181
Seignorage 21
Settlement account 55, 75, 87
Settlement bank 14f, 45, 65, 74f.
Settlement cycle 51, 52f., 87
Settlement risk 63ff.
Single Euro Payment Area (SEPA) 161f.
Single investor account 56
STEP1 157f.
STEP2 159f.
Straight Through Processing (STP) 59, 99
Sumclearing 86f., 104f., 203f., 245f.
SWIFT 99
Systemic risk 63, 68, 190, 245f.
Systemically important payment systems 9, 192
Target 149f.
Target2 151f.
Traditional pledging of collateral 79, 183
Unwinding 67, 177
Value date queue 66, 102
VP Securities Services 112
VP settlement 86f., 111f., 204f.
VP settlement, periodic payments 116