large-value payment system definition
large-value payment system means a payment system the main purpose of which is to process, clear or settle single payment transactions of high priority and urgency, and primarily of large amount;
large-value payment system means a funds transfer system that handles large-value electronic funds transfers and high-priority payments.
large-value payment system. (used in (1)(2b)) means a payment system which is designed primarily to process large-value and/or urgent payments related to important financial market activities such as money market or foreign exchange transactions as well as commercial transactions and is regarded as essential to the proper functioning of the financial system.
More Definitions of large-value payment system
large-value payment system refers to the full-amount real-time clearing system run by the People’s Bank of China.
large-value payment system means a formal arrangement between the participants, with common rules and standardized procedures for the settlement of payment transactions between participants, generally for a large value and in low volume;
large-value payment system means a funds transfer system that typically handles large-value and high-priority payments.