tailieunhanh - A glossary of terms used in payments and settlement systems

A central securities depository provides securities accounts, central safekeeping services, and asset services, which may include the administration of corporate actions and redemptions, and plays an important role in helping to ensure the integrity of securities issues (that is, ensure that securities are not accidentally or fraudulently created or destroyed or their details changed). A CSD can hold securities either in physical form (but immobilised) or in dematerialised form (that is, they exist only as electronic records). The precise activities of a CSD vary based on jurisdiction and market practices. For example, the activities of a CSD may vary. | Committee on Payment and Settlement Systems A glossary of terms used in payments and settlement systems March 2003 BANK FOR INTERNATIONAL SETTLEMENTS This publication is available only on the BIS website . First edition published January 2001. Revised editions published July 2001 and March 2003. Bank for International Settlements 2003. All rights reserved. Brief excerpts may be reproduced or translated provided the source is cited. ISBN 92-9197-133-2 online Foreword The Committee on Payment and Settlement Systems CPSS is publishing this comprehensive glossary of payment system terminology as a reference document for the standard terms used in connection with payment and settlement systems. It combines various glossaries appended to earlier reports by the CPSS and the European Central Bank ECB . There are many aspects to payment systems relating for instance to legal arrangements technological and operational issues financial market infrastructures and the conduct of monetary policy. In payment systems we see the practical application of many concepts that are key to central bank operations and policymaking such as intraday liquidity risk management and the oversight of payment and settlement systems. It is often observed that payment system policy planning requires a multidisciplinary approach and a familiarity with a wide range of subjects. Understanding the terminology of payment systems is therefore a key requirement not only for those involved in day-to-day activities connected with these systems but also for the policymakers financial institutions academics and others interested in these subjects. By bringing together all the terms and concepts associated with payment and settlement systems this publication aims to provide readers with a single and easily accessible source with which to reference the generally accepted definitions of standard payment system terminology. I hope readers will find this glossary a valuable addition to the previous work