Wholesale Payments Systems and RTGS Operations

Wholesale payment systems, particularly **Real-Time Gross Settlement (RTGS)** systems, are the critical arteries for high-value and time-sensitive interbank payments, underpinning the entire financial system. This comprehensive course provides a detailed look into the architecture, operational mechanics, and risk management of RTGS systems. Participants will gain a deep understanding of how these systems ensure finality of settlement in central bank money, explore the intricacies of intraday liquidity management, and analyze the use of Liquidity-Saving Mechanisms (LSMs). The focus is on the operational requirements, legal certainty, and compliance with international standards for Financial Market Infrastructures (FMIs).