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General

New Zealand's Central Bank picks SIA to implement system

Monday 18 April 2016 | 15:12 CET | News
The Reserve Bank of New Zealand (RBNZ), New Zealand's central bank, chose SIA to implement and support a new Real-Time Gross Settlement (RTGS) system replacing the current Exchange Settlement Account System (ESAS). The RTGS is a system that electronically streamlines the settlement of large value transactions between banks. SIA will use its wholly-owned subsidiary Perago, based in Pretoria (South Africa), specialised in central banks products. The functionality of the existing ESAS system will largely be incorporated into the replacement, including auto-overnight reverse purchase of eligible

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Categories: General
Countries: New Zealand
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