Kronos2


Kronos2 is Danmarks Nationalbank's real-time gross settlement (RTGS) system for payments in Danish kroner and a system for handling the monetary policy instruments (GCSD).

Kronos2 is a core element of Danish payment infrastructure. It is used by Danmarks Nationalbank's account holders, primarily for large, time-critical payments, either as customer or interbank payments. Kronos2 is also used for settlement of monetary-policy transactions in Denmark and for settlement of payments in Danish kroner for other settlement systems in the Danish payments infrastructure.

Via Kronos2, participants can perform a variety of functions, including entering payments, transferring liquidity to settlement accounts, viewing entries to own accounts and monitoring e.g. settlement of the Sum Clearing, the Intraday Clearing, the Express Clearing and VP settlement. In addition, participants may receive news, view historical entries and administer the use of collateral.

Kronos2 is open for payments on all Danish banking days between 7:00 am and 3:30 pm. In addition, it is open 4:30 pm for transfers to settlement accounts for the night-time Sum Clearing and VP settlement.

All holders of current accounts at Danmarks Nationalbank must participate in Kronos2. Rules and terms and conditions for account holders are stated in the Terms and conditions for accounts.

Prices
According to Danmarks Nationalbank's price policy for Kronos2, Danmarks Nationalbank's external costs for operating etc. Kronos2 are charged to participants, while Danmarks Nationalbank's internal costs are borne by Danmarks Nationalbank.

Guides

Kronos2 guides can be found in NEXT - Extranet.

Kronos2

Most banks – including all major banks – and mortgage banks in Denmark hold accounts at Danmarks Nationalbank in the same way that private individuals hold accounts with retail banks. In other words, Danmarks Nationalbank acts as banker to the banks for payments in Danish kroner where Kronos2 is the banks' online bank.