Settlement Times for Payments in Denmark - Part 1

Monetary review, 2nd Quarter 2011

Authors Bakkegaard, Jesper; Gladov, Tommy Meng; Pedersen, Anders Mølgaard
Subject Danish Economy
Type Monetary Review  
Year 2011
Published 8 August 2011
Abstract icon In Denmark, it takes at least one day to execute a payment, longer in connection with weekends and public holidays, which is not contemporary. Other countries, with which Denmark is often compared, have restructured their payment systems in recent years and it is now possible to settle payments intraday in these countries. A working group chaired by Danmarks Nationalbank will prepare a basis for decision with specific measures to reduce settlement times for payments in Denmark by year-end.