The South African The South African National Payment National Payment System System – Observations Observations and Trends and Trends Dave C Mitchell Dave C Mitchell South African Reserve Bank South African Reserve Bank World Bank Conference World Bank Conference Cape Town, South Africa Cape Town, South Africa April 2009 April 2009
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The South African The South African National Payment National Payment
System System –– Observations Observations and Trendsand Trends
Dave C MitchellDave C MitchellSouth African Reserve BankSouth African Reserve Bank
World Bank ConferenceWorld Bank ConferenceCape Town, South AfricaCape Town, South Africa
The S. A. Reserve Bank and the Payments The S. A. Reserve Bank and the Payments Associat ion of South Africa (PASA)Associat ion of South Africa (PASA)The S. A. Reserve Bank and the Payments The S. A. Reserve Bank and the Payments Associat ion of South Africa (PASA)Associat ion of South Africa (PASA)
Settlements Settlements –– Retail post Risk Reduct ionRetail post Risk Reduct ionSettlements Settlements –– Retail post Risk Reduct ionRetail post Risk Reduct ion
nn 1999/20001999/2000–– Enhancement of the SAMOS System:Enhancement of the SAMOS System:
•• Continuous Processing Line (CPL);Continuous Processing Line (CPL);•• DVP for financial market transactions DVP for financial market transactions
(STRATE).(STRATE).
nn 2001/20022001/2002–– Introduction of risk reduction measures (item Introduction of risk reduction measures (item
limits in various payment streams limits in various payment streams –– reduction reduction of values in batch settlements);of values in batch settlements);
–– Formal establishment of the Oversight Formal establishment of the Oversight function.function.
nn 2003/20052003/2005–– Enhancement of the intraday monitoring Enhancement of the intraday monitoring
capabilities of the SAMOS System;capabilities of the SAMOS System;–– SameSame––day squareday square--off;off;–– Continuous Linked Settlement (FX).Continuous Linked Settlement (FX).
nn 20062006–– Vision 2010 publishedVision 2010 published..
nn 2007/20082007/2008–– Formal regulation of nonFormal regulation of non --banks in the banks in the
NPS;NPS;–– Directives for System Operators and Directives for System Operators and
Third Party Service Providers;Third Party Service Providers;–– Establishment of NPSAB;Establishment of NPSAB;–– Review of the network infrastructure and Review of the network infrastructure and