Payment Systems in Denmark
The publication describes various aspects of payment systems. Chapter 1 presents the roles of central banks in payment systems. Chapter 2 reviews the historical background of payment systems, including the background of the involvement of central banks. Chapters 3 and 4 describe the general principles and risks in various types of payment and securities settlement systems. Chapters 5-7 review the Danish payments infrastructure and Danmarks Nationalbank's role regarding these systems. Chapter 8 describes international payment and settlement systems of importance to the Danish financial institutions. Chapter 9 reviews the legal basis for payment systems, while Chapter 10 describes the role of Danmarks Nationalbank as overseer of payment and settlement systems. In four appendices particular concepts/topics related to payment systems are treated mathematically.One of the objectives of Danmarks Nationalbank is to contribute to the efficiency and stability of payment and settlement systems. These systems are a necessity for the efficiency of the Danish financial sector. Danmarks Nationalbank considers it important that the Danish payment infrastructure is described in full detail and that this description is available to the general public.