Regulatory Alerts2023-12-11
Added · Updated
Compilation of Payment System Rules - Modifications in Books I, II, III and VI
The Central Bank of Uruguay amends the Compilation of Payment System Rules to establish a regulatory framework for a rapid payment system, introducing new classifications for current accounts including 'rapid' accounts and defining specific operational requirements for Automated Clearing Houses (ACCs). The resolution updates rules regarding intraday liquidity facilities, specifying that operations are exclusively in national currency unless authorized otherwise, and details the instruments and procedures for liquidity provision and settlement. It also mandates that electronic payment clearing transactions involving multiple direct participants must be processed through an ACC and sets forth authorization requirements for ACC operators, including corporate governance and risk management standards.