Regulatory Alerts2007-03-09
Bank of Mongolia Regulation on Inter-Bank High-Value Payments
The Bank of Mongolia issued this regulation to ensure reliable clearing and settlement of inter-bank high-value payments through its shared financial network. It establishes operational procedures, including transaction transmission deadlines, account structures, and reserve requirement fulfillment mechanisms for participating commercial banks and the Treasury. The document also defines the specific responsibilities of payer and recipient banks while outlining supervisory actions and penalties for non-compliance or settlement delays.
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