People's Republic of China Financial Sector Assessment Program : CPSS Core Principles for Systemically Important Payment Systems

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作者：

International Monetary Fund

来源地址：

http://hdl.handle.net/10986/26547

关键词：

ACCESS TO PAYMENT SERVICES;  ACCOUNT MANAGEMENT;  ACCOUNTING;  AGRICULTURAL BANK;  ANTI-MONEY LAUNDERING;  ATM;  ATM TERMINALS;  BANK ACCOUNT;  BANK BOND;  BANK BOND MARKET;  BANK BRANCHES;  BANK CARD;  BANK REGULATION;  BANKING INDUSTRY;  BANKING INSTITUTIONS;  BANKRUPTCY;  BANKRUPTCY LAW;  BILL OF EXCHANGE;  BILL PAYMENTS;  BOND;  BOND MARKETS;  CAPITAL MARKETS;  CASH PAYMENT;  CASH TRANSACTIONS;  CENTRAL BANK;  CENTRAL BANK BILLS;  CENTRAL DEPOSITORY;  CHECKS;  CIVIL LAW;  CLEARING CORPORATION;  CLEARING HOUSE;  COLLATERAL;  COLLATERALIZATION;  COMMERCIAL BANK;  CONSUMER PROTECTION;  CONSUMER PROTECTION LAW;  CONTRACT LAW;  CORPORATE SECURITIES;  CORRESPONDENT BANKS;  CREDIT COOPERATIVES;  CREDIT INFORMATION;  CREDIT RISK;  CREDIT TRANSFERS;  CREDIT UNIONS;  CURRENCY TRANSACTIONS;  DEBIT CARDS;  DEPOSIT;  DEPOSIT ACCOUNT;  DERIVATIVE;  DERIVATIVE TRANSACTIONS;  DEVELOPMENT BANK;  DIRECT DEBITS;  DOMESTIC BANKS;  ELECTRONIC EXCHANGE;  ELECTRONIC PAYMENT;  ELECTRONIC PAYMENT SYSTEM;  ELECTRONIC SIGNATURE;  ELECTRONIC TRANSACTIONS;  EMERGENCY RESPONSE;  EQUIPMENT;  EXCHANGE RATE;  FEDERAL RESERVE;  FEDERAL RESERVE BANK;  FINANCIAL INSTITUTION;  FINANCIAL MARKET;  FINANCIAL RISKS;  FINANCIAL SERVICES;  FINANCIAL SYSTEM;  FIXED ASSETS;  FOREIGN BANKS;  FOREIGN CURRENCY;  FOREIGN EXCHANGE;  FOREIGN EXCHANGE TRANSACTION;  FUND TRANSFER;  GOVERNMENT BONDS;  GOVERNMENT SECURITIES;  GROSS DOMESTIC PRODUCT;  HIGH VALUE PAYMENT SYSTEM;  HOLDING;  HUMAN RESOURCE;  IDENTIFICATION;  INFORMATION SYSTEM;  INFORMATION TECHNOLOGY;  INSTITUTIONAL INVESTORS;  INSTRUMENT;  INTEREST RATE;  INTERNAL CONTROL;  INTERNATIONAL BANK;  INTERNATIONAL SETTLEMENTS;  INTERNATIONAL STANDARDS;  ISSUANCE;  LARGE VALUE TRANSFER SYSTEMS;  LEGAL AUTHORITY;  LEGAL FRAMEWORK;  LEGAL STATUS;  LETTERS OF CREDIT;  LIQUIDITY;  LIQUIDITY MANAGEMENT;  LIQUIDITY POSITION;  LIQUIDITY RISK;  LOCAL BANKS;  LOW VALUE PAYMENT;  LOW VALUE PAYMENT SYSTEM;  MANAGEMENT INFORMATION;  MANAGEMENT OF RISKS;  MANAGEMENT SYSTEM;  MARK-TO-MARKET;  MARKET MECHANISMS;  MARKET PARTICIPANTS;  MARKET SHARES;  MONETARY FUND;  MONEY LAUNDERING LAW;  MONEY SETTLEMENT;  MORAL SUASION;  NATURAL DISASTERS;  NEGOTIABLE INSTRUMENTS;  OPERATIONAL RISKS;  OPPORTUNITY COST;  PAPER INSTRUMENTS;  PAYMENT APPLICATION;  PAYMENT CARD;  PAYMENT CLEARING;  PAYMENT INSTRUMENT;  PAYMENT ORDERS;  PAYMENT SERVICE;  PAYMENT SYSTEMS;  PAYMENT TRANSACTIONS;  PAYMENTS INSTRUMENTS;  PAYMENTS SYSTEM;  POSTAL SAVINGS;  PROMISSORY NOTES;  PROXY;  PUBLIC POLICY;  REAL-TIME GROSS SETTLEMENT;  REGULATORY AUTHORITY;  REGULATORY FRAMEWORK;  REMITTANCE;  REMITTANCE SERVICES;  RESERVE FUND;  RESERVE REQUIREMENTS;  RESERVES;  RETAIL INVESTORS;  RETAIL PAYMENT;  RETAIL PAYMENT SYSTEMS;  RETURN;  REVOLVING FUND;  RISK CONTROL;  RISK MANAGEMENT;  RISK MANAGEMENT TOOLS;  RISK PROFILES;  RTGS;  RURAL BANKS;  RURAL CREDIT;  SAVINGS BANK;  SECURITIES;  SECURITIES LAW;  SECURITIES REGISTRATION;  SECURITIES SETTLEMENT;  SECURITIES TRANSACTIONS;  SECURITY REQUIREMENTS;  SERVICE PROVIDERS;  SETTLEMENT;  SETTLEMENT PROCEDURES;  SETTLEMENT RISK;  SETTLEMENT SERVICES;  SETTLEMENT SYSTEM;  SPOT MARKET;  STAKEHOLDERS;  STOCK EXCHANGES;  SWAP;  SYSTEM DESIGN;  SYSTEM FAILURES;  TELECOMMUNICATIONS;  TELEPHONE BANKING;  TRADING;  TRADING SYSTEM;  TRANSACTION;  TRANSACTION AUTHORIZATION;  TRANSPARENCY;  TURNOVER;  VALUE PAYMENT SYSTEM;  WITHDRAWAL;  Report;  Rapport;  Informe; 

年份：

2012

出版地：

Washington,USA

语种：

English

摘要：

People's Bank of China (PBC) has carried out a major and comprehensive reform of the China National Payments System (CNPS). The PBC implemented the China National Advanced Payment System (CNAPS), which consists of the High-Value Payment System (HVPS) and the Bulk Electronic Payment System (BEPS). The HVPS system currently operates in a tiered way with a national processing center (NPC) and 32 local processing centers (LCPs). The HVPS system is interconnected to many trading, payments, and securities settlement systems (SSS) to allow for central bank money settlement. In addition, there is numerous cheque clearing houses around the country administered by the PBC local offices or delegated to banks. China Union Pay (CUP) handles the clearance of cards transactions whose balances are settled in the HVPS. Also automated clearinghouses (ACHs) and other systems handle clearance and settlement for a variety of payment instruments. The HVPS is a systemically important payment system, as it is the backbone of the national payments system in China. The HVPS handled transactions for a value of CY 804 trillion in 2009, approximately 24 times the Gross Domestic Product (GDP) value. Thus, the HVPS is being assessed against the ten Core Principles for Systemically Important Payment Systems (CPSIPS) of the Committee for Payment and Settlement Systems (CPSS) and the four responsibilities of the central banks in applying the CPSIPS. The BEPS is not currently a systemically important payment system. However, its importance for an efficient settlement of the interbank payment system is growing. The present document is the assessment of the systemically important payment systems in the People's Republic of China (PRC) based on the CPSS CPSIPS. The document also contains an analysis of some developmental issues related to the reform of the payments system as a whole. The assessment was conducted in the context of the first field mission of the Financial Sector Assessment Program (FSAP) to the PRC (June 2010).