Clearing interbank systems and Depository

Clearing interbank systems and Depository

Clearing interbank systems and Depository

Interbank clearing system provides for non-cash settlements in order to:

speeding up payments;
reducing the flow of paper documents;
to improve control over the movement of funds and reduce risks (in particular, the occurrence of an overdraft for the Bank, that is, a negative balance, at the close of the operating day).
The system consists of a computer settlement center (chamber), which is connected with all the banks participating in the system. The state Bank is always present in the national clearing system. In some countries (e.g. Switzerland) all postage payments are also processed through the clearing system. During the operational day, the clearing system processes payments in real time. There are two main schemes for offsetting:

each payment of the sending Bank debits its account and credits the account of the receiving Bank; after the clearing day is over, the balance of all banks is added;
each payment of the sending Bank can be counted only if the positive balance of the Bank in the system, that is, when the Bank issued payments, credit it; until a sufficient amount of payments crediting the Bank, the debit payment is delayed in a special queue; with the last deferred receivables payments are received by the addressee Bank in a temporary chronology (or other methods of ranking).
Depository

The national Depositary of Ukraine was established on 31 March 1999 by the constituent Assembly.

Governing bodies: Supervisory Board, audit Commission. Authorized capital-5 million UAH.

Tasks of the National Depositary:

to be a Central element of the Depository system;
development of a unified system of accounting and circulation of securities according to international standards;
integration into the international system of Depository institutions;
codification (numbering) of securities.

Leave a Reply

Your email address will not be published. Required fields are marked *