Regulators focusing on clearing and settlement risks, says Tower

In the aftermath of September 11, Tower identified growing concerns about potential points of failure in the payment system, particularly in the wake of consolidation among larger banks, the inter-connectedness of payment networks and the concentration of clearing systems in major cities globally.

The Group believes the problems are particularly critical at the top-end of the market, among those institutions that provide the foundation for wholesale payments clearing and settlement services.

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