Interbank settlements: the cash must flow

The cash must flow


The market panic that peaked in late 2008 was mirrored by a surge in the volumes of payments passing over the various interbank payment infrastructures. The UK’s Clearing House Automated Payments System (Chaps) and Crest securities settlement systems broke records again and again after the collapse of Lehman Brothers – a pre-crisis record of £450 billion a day gave way to a new peak in January 2009 of £629 billion. (The eurozone’s Target2 interbank payment system peaked slightly earlier, hitting

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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