Deutsche Bundesbank and payment system risk in the Federal Republic of Germany

Article Abstract:

Clearing operations and electronic funds transfer systems at the German Central Bank (the Deutsche Bundesbank) are described and compared to similar operations in the U.S. West German banks process a higher percentage of paperless transfers than do U.S. banks, and are consequently more aware of the risks involved in such transactions. Measures taken within the West German banking system to reduce risks associated with electronic funds transfer systems include: (1) general banking security requirements under the Federal Data Protection Act, (2) banking standards that establish liability for loss, developed and agreed to by the Bundesbank, the German Federal Post Office, and various banking associations, and (3) internal control measures followed by the banks. These internal control measures and the security measures related to all clearing operations in West Germany are also described.

Germany, Bank management, Deutsche Bundesbank, Germany, West, Transfer payments

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Cheque truncation in Belgium

Article Abstract:

In Belgium's banking industry, the term 'cheque truncation' refers to the practice of holding checks received while processing payment information through automated systems, rather than returning checks to their original issuers. This practice is described in relation to Belgium's automated check clearing system known as C.E.C. (which roughly translated means the Centre for the Exchange of Operations to be Cleared for the Belgian Financial System). Over 80 percent of Belgian checks cleared in 1984 passed through the C.E.C. system. Also discussed are the legal ramifications and economic aspects of cheque truncation, and the possibility of developing C.E.C. systems outside Belgium.

Belgium, Bank automation

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Payments issues in the United Kingdom

Article Abstract:

Great Britain's payment systems have been under official review and studies detail aspects of bank competition. The studies have determined that the clearing systems are efficient and are not used to cut competition by the banks. Some reports claim more should be done to eliminate any suspicion that membership was restricted or to give any impression the large banks had abused their power. Possible problems with the payment systems relate to ownership, clearing systems access, and control and management.

United Kingdom, Economic policy, Central banks, Great Britain

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