Reserve Bank payment system operations: an update

Release date
01/03/2013
Reference
Vol. 76. No. 1. March 2013
Author
Mike Wolyncewicz
Electronic payment systems play a vital role in the economy and financial system of any modern society. The Reserve Bank plays a key role in the New Zealand payment system. In particular, it operates the Exchange Settlement System Account (ESAS) and the NZClear securities settlement system. In this article, we outline the nature of the Bank’s involvement, and recent developments, in these systems.