Regulatory Alerts2017-10-09
Added · Updated
Instruction No. 074/BCRG/SNP/17 on the Real-Time Gross Settlement System for Large-Value and Urgent Payments in Guinea
Instruction No. 074/BCRG/SNP/17 establishes the Real-Time Gross Settlement (RTGS) system for large-value and urgent payments in Guinea, defining its operational rules, participant responsibilities, and admission criteria. It mandates that payment orders of one billion Guinean francs or more, as well as urgent payments, be processed through this system, with final settlement occurring upon debit of the payer's account and simultaneous credit to the beneficiary's account. The Central Bank of Guinea operates the system, manages settlement accounts, and may provide intraday credit secured by public securities, while participants must adhere to strict security, liquidity, and priority codes.
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