Target Instant Payments (T.I.P.S.)
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Keywords
Payment system ; Payment ; Instant payment ; Settlement ; Clearing ; Target2 ; Target instant payments ; Digital currencyAbstract
This thesis explores TARGET INSTANT PAYMENT SETTLEMENT (TIPS), a payment services infrastructure developed in the Eurozone. The aim is to spot the added value of the service and identify the potential threats and risks associated with its operation.
Why was TIPS introduced at this point? What is the added value of the service? Which participants in the payment system will be affected? Who is responsible for its operation? Are there other options? What are the possible disadvantages? Are these disadvantages recognized? Does the existing legal framework support the development of such an infrastructure? Is there a connection between TIPS and digital currencies? This thesis seeks to answer questions such as these and at the same time raise readers' concerns about other service-related issues.
This thesis is based on reports and rulebooks published by the European Central Bank and National Central Banks. The views contained in this thesis are personal and cannot be considered to represent the views contained in the rulebooks and reports.
The first chapter describes the payment procedure and makes an introduction of the existing payment scheme. A short presentation of services that compete TIPS follows and a comparison between them in order to spot the added value of the service. The second chapter contains technical details about TIPS’s operation, its structure and governance and summarizes the legal framework upon which the service is built. A cost-benefit analysis on each participant directly or indirectly involved in the service, follows. In the fourth chapter the instant payment scheme outside the Euro Area is presented and the question of whether these solutions apply in the Euro Area is answered. The last chapter contains the potential effects in the global economy, the consequences in the financial stability within the Euro Area and tries to spot any possible connection between instant payments and digital currencies.
Postgraduate Studies Programme
Χρηματοοικονομική και Τραπεζική με ειδίκευση στη Χρηματοοικονομική και Τραπεζική ΔιοικητικήDepartment
Σχολή Χρηματοοικονομικής και Στατιστικής. Τμήμα Χρηματοοικονομικής και Τραπεζικής ΔιοικητικήςNumber of pages
61Language
English
Except where otherwise noted, this item's license is described as
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα