Real-Time Gross Settlement (RTGS) System Mechanics

Real-Time Gross Settlement (RTGS) systems are the backbone of a nation's financial infrastructure, ensuring the immediate and final settlement of high-value interbank payments. Understanding the intricate mechanics of an RTGS system is crucial for central bank staff involved in operations, policy, and risk oversight, as any disruption can have systemic consequences. This course provides a deep technical and operational dive into how these systems function, covering queue management, liquidity-saving mechanisms (LSMs), and the role of the central bank in providing intraday liquidity. Participants will gain the specialized knowledge required to analyze, manage, and optimize the performance and stability of this critical financial market infrastructure (FMI).