Regulatory Alerts2008-01-30
Swaziland Interbank Payment and Settlement System (SWIPSS) Rules
The Central Bank of Swaziland issued these rules to establish a comprehensive framework governing the real-time gross settlement (RTGS) of interbank payments through the SWIPSS. The regulations mandate strict participation criteria, including settlement account maintenance and SWIFT connectivity, while defining operating schedules, payment routing protocols, and intraday liquidity management. Furthermore, the document outlines procedures for payment finality, gridlock resolution, fee structures, participant suspension or withdrawal, and dispute resolution to ensure system stability.
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