Swiss central bank explores link to Eurozone instant payment system

The Swiss National Bank (SNB) and the European Central Bank (ECB) are examining the possibility of linking the instant payment systems of the two areas. +Get the most important news from Switzerland in your inbox The two entities have started an exploratory phase to connect the IP service and the SIC system with the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service, the SNB indicated on Monday. The aim is to ascertain the feasibility and economic viability of such an approach. This phase will last until 2026. Instant payments give individuals and companies the opportunity to carry out domestic account-to-account transactions, which are executed immediately and settled in a matter of seconds, 24 hours a day, every day of the week, including public holidays. The shorter settlement chains and ready availability of funds reduce risks and offer significant advantages to individuals, businesses and commercial banks. A link between the two systems would allow the execution of ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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