미국의 총액결제시스템 비교연구

Abstract

Purpose The aim of this study is to compare the real-time gross system in America. Comparative analysis of precedent research, features and operational polices between Fedwire and FedNow was performed for research purposes. Design/Methodology/Approach The paper is organized as follows. In Section , the necessity and purpose of research this paper is outlined. In Section , outlines previous research in domestic and foreign literature and the development process the real-time gross system in America. Section contains a comparative explain of the operational polices ofthe central bank. payment liquidity, services resilience and payment reserves. Section contains a comparative analysis competitiveness evaluation including fees, legal stability, services accessibility, account methods and feedback between Fedwire and FedNow. Section summarizes and suggests that the payment system have more efficience, accuracy, and security with the remaining conclusions. Findings Fedwire Funds Service is a real-time gross settlement system that enables participants to initiate fund transfers that are immediate, final, and irrevocable once processed. The Fedwire Funds Service business day begins at 9:00 p.m. eastern time (ET) on the preceding calendar day and ends at 7:00 p.m. ET, Monday through Friday, excluding designated holidays. The FedNow Service will be designed to maintain uninterrupted 24x7x365 processing with security features to support payment integrity and data security. The service will have a 24-hour business day each day of the week, including weekends and holidays.Write the Findings of you research here. Research Implications In this paper, I would like to suggest the necessity of converting Korea’s current deferred-netting system to the real-time gross system.