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Multinational - East African Community (EAC) - Payment and Settlement Systems Integration Project - Appraisal Report - Updated on 12 December 2012

06-Dec-2012

Well-functioning and integrated Real Time Gross Settlement (RTGS) systems and retail payment and settlement systems, Central Securities Depositories and Core Banking Platforms in the region; Supporting infrastructure including business continuity and disaster recovery platforms that function satisfactorily; Harmonized national legislation; regulations and policies that ensure adequate supporting pillars for the payment and settlement systems to be integrated throughout the EAC in order to protect payment flows. Including, but not limited to; adoption of common “Failure to Settle” arrangements, “Oversight Framework and Policy”, on site-inspection format in line with BIS CPSIPS, regulatory arrangements for payment instruments and collateral levels; enhance capacity and supporting skill sets for specific areas of payment and settlement systems for the EAC-CPT, the National Central Banks, the Commercial Banks, Judges and other stake holders and regulators.

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