Regulatory Alerts2026-03-31
Operational and Services External Circular DSP-471, Subject 20: Regulation of the Operational Mechanism for Settlement (MOL)
The Bank of the Republic issues this circular to replace DSP-471 and modify the transition deadlines for operational rules regarding the unavailability of Low-Value Immediate Payment Systems and the Operational Mechanism for Settlement (MOL). The document establishes the comprehensive regulatory framework, definitions, and operational characteristics for the MOL, which enables real-time gross settlement of immediate payment orders against participants' deposit accounts. It details the procedures for linking entities and participants to the system, including access requirements, testing protocols, and liquidity management parameters.
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