In our last videos, we spoke about the payment market infrastructures in Sweden. In today’s video, we will consider the payment market infrastructures of the United Kingdom. As before, we first look at the generic model that you can use to study the market infrastructures of your own country.
Like Sweden, the UK has its own currency which is the Pound sterling and at the same time the UK belongs to the SEPA Area. Each currency has its own Payment market infrastructure. So, pound sterling payments and Euro payments are processed in their own systems. Consequently, Banks located in the UK can join the clearing and settlement systems for the Pound Sterling as well as clearing and settlement systems for the Euro, like banks located in the other SEPA countries.
What does all this mean for UK Banks and which systems do they join to clear and settle different types of payments? Find the answers to these questions and much more in this new video.
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