New CBI Announcement 01/12/2017

[yota691]

News and announcements

 

To / licensed banks and financial companies all conversion ( uncles ) 12/01/2017

 

 

[Wiljor]

Good evening Yota, conversion to what? 

[yota691]

Real-time gross settlement

From Wikipedia, the free encyclopedia

 

 

Real-time gross settle) are specialist funds transfer systems where the transfer of money or securities^[1] takes place from one bank to another on a "real time" and on a "gross" basis. Settlement in "real time" means a payment transaction is not subjected to any waiting period, with transactions being settled as soon as they are processed. "Gross settlement" means the transaction is settled on one-to-one basis without bundling or netting with any other transaction. "Settlement" means that once processed, payments are final and irrevocable.

RTGS systems are typically used for high-value transactions that require and receive immediate clearing. In some countries the RTGS systems may be the only way to get same day cleared funds and so may be used when payments need to be settled urgently. However, most regular payments would not use a RTGS system, but instead would use a national payment system or network that allows participants to batch and net payments.

RTGS systems are usually operated by a country's central bank as it is seen as a critical infrastructure for a country's economy. Economists believe that an efficient national payment system reduces the cost of exchanging goods and services, and is indispensable to the functioning of the interbank, money, and capital markets. A weak payment system may severely drag on the stability and developmental capacity of a national economy; its failures can result in inefficient use of financial resources, inequitable risk-sharing among agents, actual losses for participants, and loss of confidence in the financial system and in the very use of money.^[2]

maintained or controlled by the central bank of a country. There is no physical exchange of money; the central bank makes adjustments in the electronic accounts of Bank A and Bank B, reducing the balance in Bank A's account by the amount in question and increasing the balance of Bank B's account by the same amount. The RTGS system is suited for low-volume, high-value transactions. It lowers settlement risk, besides giving an accurate picture of an institution's account at any point of time. The objective of RTGS systems by central banks throughout the world is to minimize risk in high-value electronic payment settlement systems. In an RTGS system, transactions are settled across accounts held at a central bank on a continuous gross basis. Settlement is immediate, final and irrevocable. Credit risks due to settlement lags are eliminated. The best RTGS national payment system cover up to 95% of high-value transactions within the national monetary market.

RTGS systems are an alternative to systems of settling transactions at the end of the day, also known as the net settlement system, such as the BACS system in the United Kingdom. In a net settlement system, all the inter-institution transactions during the day are accumulated, and at the end of the day, the central bank adjusts the accounts of the institutions by the net amounts of these transactions.

The World Bank has been paying increasing attention to payment system development as a key component of the financial infrastructure of a country, and has provided various forms of assistance to over 100 countries. Most of the RTGS systems in place are secure and have been designed around international standards and best practices.^[3]

There are several reasons for central banks to adopt RTGS. First, a decision to adopt is influenced by competitive pressure from the global financial markets. Second, it is more beneficial to adopt an RTGS system for central bank when this allows access to a broad system of other countries' RTGS systems. Third, it is very likely that the knowledge acquired through experiences with RTGS systems spills over to other central banks and helps them make their adoption decision. Fourth, central banks do not necessarily have to install and develop RTGS themselves. The possibility of sharing development with providers that have built RTGS systems in more than one country (CGI of UK, CMA Small System of Sweden, JV Perago of South Africa and SIA SpA of Italy, Montran of USA) has presumably lowered the cost and hence made it feasible for many countries to adopt.^[4]

As at 1985, three central banks had implemented RTGS systems, while by the end of 2005, RTGS systems had been implemented by 90 central banks.^[5]

[Big_J]

[Wiljor]

This is awesome news, looks like they are pretty much ready to jump to light speed and hit the international stage DV. 

"There are several reasons for central banks to adopt RTGS. First, a decision to adopt is influenced by competitive pressure from the global financial markets. Second, it is more beneficial to adopt an RTGS system for central bank when this allows access to a broad system of other countries" Now if that does not mean international, I don't know what does 

[tigergorzow]

1 minute ago, Wiljor said:

This is awesome news, looks like they are pretty much ready to jump to light speed and hit the international stage DV. 

"There are several reasons for central banks to adopt RTGS. First, a decision to adopt is influenced by competitive pressure from the global financial markets. Second, it is more beneficial to adopt an RTGS system for central bank when this allows access to a broad system of other countries" Now if that does not mean international, I don't know what does 

Yota Thanks,  Wiljor, Yup I'm sure feeling real good in my neck of the woods right about now.  Keep it going Iraq the World is ready for your return....--))))))

[Synopsis]

2 minutes ago, Wiljor said:

This is awesome news, looks like they are pretty much ready to jump to light speed and hit the international stage DV. 

"There are several reasons for central banks to adopt RTGS. First, a decision to adopt is influenced by competitive pressure from the global financial markets. Second, it is more beneficial to adopt an RTGS system for central bank when this allows access to a broad system of other countries" Now if that does not mean international, I don't know what does 

 

Just now, tigergorzow said:

Yota Thanks,  Wiljor, Yup I'm sure feeling real good in my neck of the woods right about now.  Keep it going Iraq the World is ready for your return....--))))))

Well, OK, I'm excited, too!!!

Go Moola Nova!!!

                    

[sandfly]

Thanks yota 

[presence]

Good Evening Yota and DV! (I usually say 'good Morning' Yota and DV and have come to the conclusion that Yota enjoys posting awesome news on this site more than sleep). What an exciting time to be part of this experience! I notice that this post was made less than 30 minutes ago - it sure will be fun to watch things unfold over the next several hours and possibly days. My thought - and hope - is obviously to see a rate-change, and I suspect that if, and only if, the ego in the White House has any chance to influence the outcome that we will in fact see something in the next few days in the range of .10'.to .50 simply so that he can say he had an influence on it and so that  he can minimize the maximum benefit for those investors 'at this level' from far greater returns. That being said, I agree with what so many others on this site - which truly in the best Dinar site on the web - that the Dinar MUST increase in value to a point where the Iraqi citizens will be willing to stop using the dollar, which means a rate chacge to 1:1 or more. One way or another, I anticipate a rate change very soon, and hope to meet many of the members on this site in person to celebrate the occasion!

 

[Boozer]

OK so we wait,, WTO, HCL, article 8... = RV               

[yota691]

21 minutes ago, presence said:

it sure will be fun to watch things unfold over the next several hours and possibly days. My thought - and hope

[boosterbglee]

I like it Yota!  

[copper13]

Great exciting news 😋just before bedtime😴! I hope I can sleep!! I have to get up 4:30 AM for work👮🏻🍩☕️ 

CYA in the morning Yota, hopefully with a RV... 👍

Any Day Now!🍺

 

[blueskyline]

Thanks Yota !

[Drunk_Viking64]

To me it looks like it is time to......

So we can ....

[captl1]

Outstanding Yota! Thanks. You are our DV lighthouse that keeps us on a great path! MAS TEQUILA Yota! Mas Tequila Wiljor and all DV!

[jg1]

$$$$$$$$$$$ :-) :-) :-) :-) :-) :-) :-)

[1lucdog]

The only thing Constant is Change...and some Change is good..Goodnight all!  California dreamin...I am

Merci' Yota!

[wildeman]

Thanks Yota.

[heeper00]

Positive Positive THINKING Yoda, feeeeeeling GOOD Myfreind.

[ChuckFinley]

Thanks Yota!!!! This is big time news.  It is coming.  

[Gypsygirl11]

Theres that "uncles" again.....let something happen for crying out loud.

[olivesman]

"pressure from the global financial markets" hmm...

this ranks right up there with "international"

 

[four wheel drift]

We have a 3 Day weekend.

Monday is MLK day, banks closed.

Hopium, lol

Just sayin

FWD

GO RV

[SgtFuryUSCZ]

Thanks, 4WHEEL ! 

Wouldn't wanna go down there and be the only ones sittin' in the parkin' lot countin' our Deenarz !

 

Wouldn't it be swell.... a 3-day weekend to drink the last of the cheap stuff before we get to back to

the Class 6 and pick up the real stuff !    Sigh.... HOPIUM indeed...! 

 

And imagine having electricity at 'OlSarge'sFishCamp 24/7 so we can finally bring The Troops down who need to

charge power chairs and medical equipment....... .... we're veklempt !