DOCSLIB.ORG

Settlement Systems of East Asian Economies

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Settlement Systems of East Asian Economies Settlement Systems of East Asian Economies Commissioned by Ministry of Finance Japan March 2004 Institute for International Monetary Affairs Table of Contents Foreword.........................................................................................................................................1 List of Abbreviation ....................................................................................................................3 Chapter 1 Payment Systems of Hong Kong and Singapore, and Cross-border Linkages.........8 1. Payment Systems of Hong Kong....................................................................................................8 (1) Payment Systems...............................................................................................................8 i. HK-Dollar RTGS System ................................................................................................8 ii. USD RTGS System..........................................................................................................8 iii. Euro RTGS System........................................................................................................10 iv. Plans for a Yen RTGS System.......................................................................................11 v. Plans for Linking PvP Settlement Systems....................................................................11 (2) Securities Settlement Systems .........................................................................................12 i. Central Moneymarkets Unit...........................................................................................12 ii. Central Clearing and Settlement System .......................................................................13 (3) Enhancement of Linkages with China .............................................................................14 i. Closer Economic Relationship with China ....................................................................14 ii. Promotion of Settlement Infrastructure Linkage with China.........................................16 (4) Cross-border Linkage with International CSDs...............................................................17 i. Bilateral Linkages with International CSDs ..................................................................17 ii. Bilateral Linkages with Regional CSDs ........................................................................17 iii. Relationships with Global Custodians...........................................................................18 iv. Comparison with Singapore...........................................................................................18 2. Payment Systems of Singapore ....................................................................................................19 (1) Payment Systems.............................................................................................................19 i. Payment System Types..................................................................................................19 ii. Singapore-dollar RTGS System.....................................................................................20 iii. PvP Settlement and CLS System ...................................................................................20 iv. Payment and Settelment Systems (Finality and Netting) Act 2002...............................21 (2) Securities Settlement System...........................................................................................21 i. SGS Settlement System .................................................................................................21 ii. Depository for Singapore’s Securities Markets .............................................................22 iii. Settlement System for Private and Public Corporation Bonds ......................................22 iv. Stock Settlement System ...............................................................................................22 v. Addressing STP .............................................................................................................23 (3) Settlement System’s Cross-border Linkage.....................................................................23 i. Plans for Retail Settlement Linkage ..............................................................................23 ii. Cross-border Linkages of CSD and Stock Exchanges...................................................24 Chapter 2 Payment Systems of China ..........................................................................................25 1. Payment Systems.......................................................................................................................25 (1) Electronic Interbank System............................................................................................25 i. Outline ...........................................................................................................................25 ii. Payment Structure..........................................................................................................25 iii. EIS Revaluation and Pending Issues..............................................................................26 (2) China National Advanced Payment System ....................................................................26 i. Developmet History.......................................................................................................26 ii. Outline ...........................................................................................................................27 iii. Payment Structure..........................................................................................................27 iv. Future Schedule .............................................................................................................29 v. Valuation and Issues to Be Resolved.............................................................................29 (3) Local Clearing House System .........................................................................................30 i. Outline ...........................................................................................................................30 ii. Payment Structure..........................................................................................................30 iii. Valuation and Issues to be Resolved .............................................................................31 (4) Commercial Banks’ Intra-office Payment Systems.........................................................31 (5) National Interbank System ............................................................................................31 2. Securities Settlement Systems...................................................................................................32 (1) Outline .............................................................................................................................32 (2) Stock Exchange Settlement Systems ...............................................................................32 i. Outline ...........................................................................................................................32 ii. Trading System Outline.................................................................................................34 iii. Outline of SD&C ...........................................................................................................35 iv. Clearing and Settlement System ....................................................................................35 (3) Bond Market ....................................................................................................................37 i. Outline ...........................................................................................................................37 ii. Outline of Trading System.............................................................................................41 iii. Outline of the CDC........................................................................................................41 iv. Settlement System .........................................................................................................42 Chapter 3 Payment Systems of Korea ..........................................................................................43 1. Payment Systems.......................................................................................................................43 (1) Retail Payment Systems ..................................................................................................43 (2) BOK-Wire（The Bank of Korea Financial Wire Network） .........................................45 i. Outline ...........................................................................................................................45 ii. Operation and Settlement Hours....................................................................................45 iii. Fees................................................................................................................................45 iv. Queue and Overdrafts ....................................................................................................45 (3) Current Issues and Initiatives for Further Development..................................................46 2. Securities Settlement Systems...................................................................................................47
Load more

Recommended publications
  • Telenet Opens Your World Annual Report 2005 Internet Customers (000S) Telephony Customers (000S) Revenue (In Million Euro) EBITDA (In Million Euro - US GAAP)
    THE MULTIPLE FACETS OF GROWTH Telenet opens your world Annual Report 2005 Internet customers (000s) Telephony customers (000s) Revenue (in million euro) EBITDA (in million euro - US GAAP) 624 364 737,5 330,6 528 286 681,1 299,6 235 413 230,1 187 181 502,3 301 307,1 82,6 196 104 172,3 85 -18,6 2000 2001 2002 2003 2004 2005 2000 2001 2002 2003 2004 2005 2001 2002 2003 2004 2005 2001 2002 2003 2004 2005 Internet customers (000s) Telephony customers (000s) Revenue (in million euro) EBITDA (in million euro - US GAAP) Total iDTV boxes sold 624 364 Capital Expenditure (in million euro - US GAAP) Total debt / EBITDA ratio 737,5 18 330,6 528 16.8 286 200,5 681,1 16 299,6 100,000 235 176,7 413 14 230,1 187 181 502,3 141,5 12 301 10 307,1 82,6 Telenet in a nutshell 100,4 196 104 8 6.72 172,3 67,4 6 4.96 85 3.85 4 -18,6 2 2000 2001 2002 2003 2004 2005 2000 2001 2002 2003 2004 2005 2001 2002 2003 2004 2005 2001 2002 2003 2004 2005 Aug 05 Sept Oct Nov Dec Jan 06 0 2001 2002 2003 2004 2005 2002 2003 2004 2005 Internet customers (000s) Telephony customers (000s) Revenue (in million euro) EBITDA (in million euro - US GAAP) Total iDTV boxes sold 624 Capital ExpenditureFinancial (in million euro364 - US GAAP) Total debt / EBITDA ratio Consortium GIMV 18 737,5 330,6 528 4.00% 9.69% 286 Other 16.8 681,1 299,6 200,5 (0.3% Suez and 0.3% banks) 16 100,000 235 413 Interkabel 176,7 230,1 Mixed 187 14 4.15% 502,3 intercommunales181 141,5 12 301 & Electrabel 16.50% 10307,1 82,6 196 104 100,4 8 6.72 172,3 6 85 67,4 4.96 3.85 -18,6 Free float 4 Liberty Global 43.91%
    [Show full text]
  • PT Bank Danamon Indonesia Tbk and Subsidiary
    Investor Newsletter February 2003 Bank Danamon Full Year 2002 Results www.danamon.co.id Highlights: Net Income increased to Rp 948 bn from Rp 723 bn Earning per Share increased to Rp 38.66 from Rp 29.48 Government bonds reduced by Rp 12.1 tn to Rp 15.6 tn Loan grew by Rp 7.7 tn to Rp 18.2 tn Interim Dividend of Rp 19 per share Investor Relations Madi D. Lazuardi [email protected] I Dewa Made Susila [email protected] PT BANK DANAMON INDONESIA TBK Menara Bank Danamon, 7th Floor Jl. Prof. Dr. Satrio Kav. E4-6 Jakarta 12950 Phone 62 (21) 5799 1001-03 Fax 62 (21) 5799 1160-61 Investor Newsletter Net Incom e in Billion Rupiah 948.4 Financial Performance in Year 2002 72 3.3 PT Bank Danamon Indonesia Tbk (BDI) recorded Rp 948 billion in net income for the year ended December 2002, a 31.1% increase against Rp 339.4 723 billion in year 2001. This significant growth was largely driven by higher net interest income, increase in fee-based income and gains on sales of marketable securities. This improvement has resulted in an increase in both ROAA and ROAE, being 2.0% and 22.3%, respectively Dec'00 D ec'01 D ec'02 as compared to last year’s percentage of 1.4% and 16.1%. In year 2002, net interest income increased by 13.6% to Rp 1,834 Net Interest Incom e in Billion Rupiah 1,833.8 billion from Rp 1,615 billion in 2001, mainly due to lower interest 1,615.0 expense, resulting from better deposits mix and declining in interest bearing liabilities.
    [Show full text]
  • Gauging the Potential in Thai Banking* Introduction Overview
    Financial Services Back on the investment radar: Gauging the potential in Thai banking* Introduction Overview The Thai banking sector is attracting increasing international • Economy set to rebound as confidence returns following interest as the market opens up to foreign investment and the return to democracy. the return to democracy helps to reinvigorate consumer • Banking sector recording steady growth. Strong confidence and demand. opportunities for the development of retail lending. Bad debt ratios have gradually declined and the balance • Foreign banks account for 12% of the market by assets and sheets of Thailand’s leading banks have strengthened 10% of lending by value.7 Strong presence in high-value considerably since the Asian financial crisis of 1997.1 niche segments including auto finance, mortgages and The moves to Basel II and IAS 39 are set to enhance credit cards. transparency and risk management within the sector, while accelerating the demand for foreign capital and expertise. • Organic entry strategies curtailed by licensing and branch opening restrictions. Reforms already in place include the ‘single presence’ rule, which by seeking to limit cross-ownership of the country’s • Acquisition of minority stakes in existing banks proving banks is leading to increased consolidation and the opening increasingly popular. Ceiling on foreign holdings set to be up of sizeable holdings for new investment. The Financial raised to 49%, though there are no firm plans to allow Sector Master Plan and forthcoming Financial Institution outright control. Business Act (2008), which will come into force in August • Demand for capital and foreign expertise is encouraging 2008, could ease restrictions on branch openings and the more domestic banks to seek foreign investment, especially size of foreign investment holdings.
    [Show full text]
  • Press Release Livi Bank Teams up with Unionpay International to “Shake Up
    11 August 2020 Press Release livi bank teams up with UnionPay International to “shake up” payments in Hong Kong livi customers to benefit from fun and exclusive ‘Shake Shake’ rewards livi bank and UnionPay International announced today an exciting new partnership which integrates UnionPay QR Payment into livi’s virtual banking app, which will be available for download tomorrow. livi is an easy, rewarding and lifestyle-driven banking experience, delivered through a simple and stylish mobile app. Through the partnership, livi customers can use the banking app’s digital payment function, the widely accepted UnionPay QR Payment, across 40,000 acceptance points in Hong Kong and gain access to lots of special offers at selected merchants. Probably the most exciting way to unlock everyday monetary rewards in Hong Kong During the promotional period, livi customers can get instant monetary rewards to put towards their next purchase by simply shaking their phones after using UnionPay QR Payment on purchases. This fun and innovative “Shake Shake” feature is a first in the banking world in Hong Kong and aims to make shopping that little bit more rewarding. “We’re thrilled to be joining hands with UnionPay International to offer a fun and innovative payment experience for our customers.” said David Sun, Chief Executive of livi. “Our mission is to give people in Hong Kong an everyday boost to their lives, with a banking experience they will enjoy. Our collaboration strives to achieve this by bringing attractive benefits designed around our customers’ everyday needs.” “UnionPay International is honoured to partner with livi to pioneer the very first QR Payment function in virtual banking in Hong Kong, by issuing the first UnionPay virtual debit cards for livi customers.
    [Show full text]
  • Growing with Our Customers
    Annual Report 2015 Growing with Our Customers Annual Report 2015 Growing with Our Customers Growing 2015 Annual Report Growing with Our Customers Theme Journey PT Bank Danamon Indonesia, Tbk. 2011 2012 Opening Opportunities Dedicated to Excellence & Membuka Peluang for Growth Delivering Value Menuju Hidup Lebih Baik Opening Opportunities for Growth In 2011, Danamon celebrated Banknotes that circulate within a its 55th anniversary. Over the community can be works of art with Membuka Peluang Menuju Hidup Lebih Baik course of 55 years, Danamon high aesthetic value. As a financial Opening Opportunities for Growth has evolved to become a modern institution, Danamon wishes to financial institution, serving appreciate the beauty of unique customers, from individual fonts, pictures, colors and printing customers and micro businesses techniques. Ideas and symbolic to large scale business. meanings depicted in banknotes are Laporan Tahunan 2011 Annual Report Laporan Tahunan presented through the Indonesian Laporan Tahunan Annual Report 2011 2011 saw achievements in Banknote Series and as featured in PT Bank Danamon Indonesia, Tbk. Menara Bank Danamon Jl. Prof. Dr. Satrio Kav. E-IV No. 6 Laporan Tahunan many sectors, serving as the a number of Danamon’s corporate Mega Kuningan, Jakarta 12950, Indonesia Annual Report 2011 Tel. 62 21 5799 1001-03 Fax. 62 21 5799 1160-61 PT Bank Danamon Indonesia, Tbk. www.danamon.co.id foundation for the next cycle materials. of growth for Danamon. Such achievements open the way for Danamon to increase its presence and open up more opportunities towards for better living. 2013 PT Bank Danamon Indonesia, Tbk. 2014 Annual Report 2014Enhancing Our PT Bank Danamon Indonesia, Tbk.
    [Show full text]
  • Country Diagnostic: Philippines
    Philippines BETTERTHANCASH COUNTRY DIAGNOSTIC ALLIANCE Empowering People Through Electronic Payments July 2015 Development Results Focused Research Program Country Diagnostic: Philippines by James Hokans, Bankable Frontier Associates Philippines BETTERTHANCASH COUNTRY DIAGNOSTIC ALLIANCE Empowering People Through Electronic Payments July 2015 Development Results Focused Research Program Country Diagnostic: Philippines by James Hokans, Bankable Frontier Associates BETTERTHANCASH ALLIANCE Empowering People Through Electronic Payments INTRODUCTION TO THE BETTER THAN CASH ALLIANCE The Better Than Cash Alliance (the Alliance) is a partnership of governments, companies, and international organizations that accelerates the transition from cash to digital payments in order to drive inclusive growth and reduce poverty. Shifting from cash to digital payments has the potential to improve the lives of low-income people, particularly women, while giving governments, companies and international organizations a more transparent, time- and cost-efficient, and often safer means of making and receiving payments. We partner with governments, companies, and international organizations that are the key drivers behind the transition to make digital payments widely available by: 1. Advocating for the transition from cash to digital payments in a way that advances financial inclusion and promotes responsible digital finance. 2. Conducting research and sharing the experience our members to inform strategies for making the transition 3. Catalyzing the development
    [Show full text]
  • STOXX Asia 100 Last Updated: 03.07.2017
    STOXX Asia 100 Last Updated: 03.07.2017 Rank Rank (PREVIOU ISIN Sedol RIC Int.Key Company Name Country Currency Component FF Mcap (BEUR) (FINAL) S) KR7005930003 6771720 005930.KS KR002D Samsung Electronics Co Ltd KR KRW Y 256.2 1 1 JP3633400001 6900643 7203.T 690064 Toyota Motor Corp. JP JPY Y 128.5 2 2 TW0002330008 6889106 2330.TW TW001Q TSMC TW TWD Y 113.6 3 3 JP3902900004 6335171 8306.T 659668 Mitsubishi UFJ Financial Group JP JPY Y 83.5 4 4 HK0000069689 B4TX8S1 1299.HK HK1013 AIA GROUP HK HKD Y 77.2 5 5 JP3436100006 6770620 9984.T 677062 Softbank Group Corp. JP JPY Y 61.7 6 7 JP3735400008 6641373 9432.T 664137 Nippon Telegraph & Telephone C JP JPY Y 58.7 7 8 CNE1000002H1 B0LMTQ3 0939.HK CN0010 CHINA CONSTRUCTION BANK CORP H CN HKD Y 58.2 8 6 TW0002317005 6438564 2317.TW TW002R Hon Hai Precision Industry Co TW TWD Y 52.6 9 12 HK0941009539 6073556 0941.HK 607355 China Mobile Ltd. CN HKD Y 52.0 10 10 JP3890350006 6563024 8316.T 656302 Sumitomo Mitsui Financial Grou JP JPY Y 48.3 11 15 INE040A01026 B5Q3JZ5 HDBK.BO IN00CH HDFC Bank Ltd IN INR Y 45.4 12 13 JP3854600008 6435145 7267.T 643514 Honda Motor Co. Ltd. JP JPY Y 43.3 13 14 JP3435000009 6821506 6758.T 682150 Sony Corp. JP JPY Y 42.3 14 17 JP3496400007 6248990 9433.T 624899 KDDI Corp. JP JPY Y 42.2 15 16 CNE1000003G1 B1G1QD8 1398.HK CN0021 ICBC H CN HKD Y 41.1 16 19 JP3885780001 6591014 8411.T 625024 Mizuho Financial Group Inc.
    [Show full text]
  • Mirae Asset Global Discovery Fund Société D’Investissement À Capital Variable Annual Report and Audited Financial Statements for the Year Ended 31 March 2016
    Mirae Asset Global Discovery Fund Société d’Investissement à Capital Variable Annual Report and Audited Financial Statements for the Year Ended 31 March 2016 R.C.S Luxembourg B138.578 No subscription may be accepted on the basis of this annual report. Subscriptions are accepted only on the basis of the current prospectus and key investor information documents accompa- nied by the latest annual report and the latest semi-annual report if available. Mirae Asset Global Discovery Fund Mirae Asset Global Discovery Fund Société d’Investissement à Capital Variable Annual Report and Audited Financial Statements for the year ended 31 March 2016 Table of Content General Information ...........................................................................................................................3 Investment Manager’s report ............................................................................................................5 Independent Auditor’s report ............................................................................................................7 Financial Statements..........................................................................................................................8 Statement of Net Assets Statement of Operations and Changes in Net Assets Statistical Information ........................................................................................................................14 Notes to the Financial Statements ....................................................................................................20
    [Show full text]
  • Mabuhay Miles Travel Card – Frequently Asked Questions
    Mabuhay Miles Travel Card – Frequently Asked Questions 1. Why should I use the Mabuhay Miles Travel Card over other cards? Your Mabuhay Miles Travel Card earns 1 Mile for every Php100 (or its equivalent in foreign currency) spent. It is the only Travel Card that contains a PHP wallet so you can use it both in domestic and international transactions. It is a multi‐currency card that will allow you to spend in the supported local currency without worry of fluctuating exchange rates. By being able to spend using the local currency, it will also allow you to manage your funds better while you travel. Skip the call to your bank when converting your points to Miles. Your Miles will be credited directly to your Mabuhay Miles account, not to your Travel Card account. 2. What’s the difference between the existing Mabuhay Miles Membership Card and this new Mabuhay Miles Travel Card? For Elite, Premiere Elite or Million Miler members, your Mabuhay Miles Membership Card will 1) remain solely as a membership card and 2) will indicate your tier status and benefits. The Travel Card will function as your multi‐currency prepaid card. For Classic members, the Travel Card will serve as both the membership card and the multi‐ currency prepaid card. 3. Where can I use my Mabuhay Miles Travel Card? You can use the currencies in your Travel Card in stores worldwide that accept UnionPay. You can also use your Travel Card to withdraw cash and check your currency balance at BancNet ATMs in the Philippines and international ATMs that accept UnionPay.
    [Show full text]
  • A Quarterly Publication for LANDBANK's Clients and Partners
    HARVEST A quarterly publication for LANDBANK’s Clients and Partners Vol. X, No. 1 March 2015 HARVEST Magazine March 2015 WHAT’S INSIDE Page 3 Partnerships at Work For cash donations to the families of • OmniPay, Inc. on board for payment the 44 PNP-SAF officers processing platform • ExpressPay signs remittance deal Deposits may be made through with LANDBANK the following LANDBANK accounts: Page 4 Department of Social Welfare and Development (DSWD) • LANDBANK furthers global reach Account Name: DSWD Donation Account for Armed with MoneyGram Conflict in Mamasapano Maguindanao • POEA and LANDBANK ink deal for e-processing Current Account: (CA) No. 3122-1026-28 Page 5 Philippine National Police (PNP)* Cover Story Account Name: PNP Special Assistance Fund Linking where it matters Current Account: (CA) No. 1862-1027-77 Page 7 • Univanich reaps benefits of internet banking *Donors may contact PCinsp Renante F. Pinuela of DC Page 8 through text at +63.917.8576020 • Save time with LANDBANK iAccess Note: DSWD and PNP will take charge of disbursing the donations to the intended beneficiaries. Page 9 Branch Banking News & Updates • LANDBANK Easy Access Facility • GenSan City Branch does LANDBANK proud Page 10 • LANDBANK President feted with CSR Award Harvest Magazine is • Now in your neighborhood also available online New branches for viewing or download. You may also follow us on - LANDBANK Alabang Business Center facebook and twitter - LANDBANK Araneta Center EO for the latest news and - LANDBANK Guagua Branch updates from LANDBANK. - LANDBANK Sto. Tomas EO Relocated landbankofficial - LANDBANK Pasig-C. Raymundo Branch - LANDBANK Tarlac City Branch @LBP_Official www.landbank.com Editor-in-Chief CATHERINE ROWENA B.
    [Show full text]
  • Senior Executives Profiles
    Management Discussion Performance Highlights Management Reports Company Profile and Analysis Risk Management Senior Executives Profiles Antonius Gunadi Rusly Johannes Chief Audit Executive Chief of Corporate Banking Indonesian citizen, 44 years of age. Indonesian citizen, 49 years of age. Joined CIMB Niaga in December Has served as Chief of Corporate 2016 and has served as Chief Audit Banking since February 2015. He has Executive since 3 January 2017. He held various positions at ABN AMRO began his career as an auditor at the Bank Indonesia, Deutsche Securities public accounting firm of Coopers Inc. New York, and Rabobank & Lybrand, KPMG, and Ernst & Indonesia. Young prior to entering the banking industry when he became Head of Prior to joining CIMB Niaga, he Internal Audit at ABN Amro Bank served as Managing Director, Local Indonesia, Barclays Indonesia, and Corporate Unit, Corporate and Bank Internasional Indonesia. Prior to joining CIMB Niaga, he served Investment Banking at Citibank Indonesia. He completed his MBA as Audit Director at Citibank and was responsible for audit activities program from The Anderson School, UCLA and Bachelor of Business in Indonesia and several other countries in Asia and EMEA. He holds Administration program from The University of Texas (Austin). a Bachelor’s Degree in Accounting from University Tarumanagara and a number of international certifications, such as Certified Internal Auditor (CIA) and Certified Anti- Money Laundering Specialist (CAMS). In addition, he is active in the internal audit profession organization for banking industry in Indonesia named Ikatan Audit Intern Bank (IAIB). Budiman Poedjirahardjo Sukarman Omar Chief of Corporate Strategic Initiatives Chief of Micro and SME Banking Indonesian citizen, 53 years old.
    [Show full text]
  • The State of Digital Payments in the Philippines (Released in 2015) Found That Adoption Had Been Limited
    COUNTRY DIAGNOSTIC The State of Digital Payments in the Philippines DECEMBER 2019 PHILIPPINES Authors Project Leads: Keyzom Ngodup Massally, Rodrigo Mejía Ricart Technical authors: Malavika Bambawale, Swetha Totapally, and Vineet Bhandari Cover photo: © Better Than Cash Alliance/Erwin Nolido 1 FOREWORD Our country was one of the first to pioneer digital payments nearly 20 years ago. Recognizing the untapped market potential and the opportunity to foster greater access to financial inclusion, the Bangko Sentral ng Pilipinas (BSP) has worked, hand in hand, with the government and the leaders across financial, retail, and regulatory sectors to boost digital payments. Over the past three years, since the launch of the first digital payments diagnostic, the Philippines has experienced remarkable progress toward building an inclusive digital payments ecosystem. In 2013, digital payments accounted for only 1% of the country’s total transaction volume. In 2018, this follow through diagnostic study showed that the volume of digital payments increased to 10% corresponding to 20% share in the total transaction value. These numbers speak of significant progress and success. I am optimistic that e-payments will gain further momentum as we have laid the necessary building blocks to accelerate innovation and inclusive growth over the next few years. Notably, Filipino women are ahead of men in the uptake of digital payments, placing us ahead of global standards. The rise of fintech and their solutions are starting to play a transformative role, as we can see from the rapidly-growing adoption of the emerging QR codes for digital transactions. I am confident that the BSP has built a good digital foundation and is well positioned to leverage fintech in increasing the share of digital payments toward a cash- lite Philippines.
    [Show full text]