Abstract
Non‐cash payments are intensively growing in the payment market. Therefore modern electronic systems of interbank payments are introduced to satisfy this need. The substantial renewal of the payment system was prompted for the implementation of the new banking technologies and aimed at increasing fund turnover as well as complying with the requirements applied in regard of payment systems. Such a system change is a topical theme of discussion on the simulation and analysis of systems of such kind. The article analyses the opportunities for simulating the interbank payment system and presents a model of interbank payments flow. The model is constructed on the analysis of real flow of payments in the payment system.
Highlights
Active introduction of the means of electronic data transfer in banking and concentration of a great part of settlements at the centres of interbank payments were related with creation of the automated systems of the clearing
The Methods of the article are the systematic analysis of literature, practical analysis of the Payment and Settlement Simulator BoF-PSS, analysis of real flow of payments in the payment system LITAS and modelling of interbank payments flow
An application stays in the queue until the moment of its entry into the system, i.e., the moment when the system establishes that available funds are sufficient for settling the application and the processing of the application is started immediately by transferring the funds indicated in it from the settlement account of the payer to the settlement account of the beneficiary
Summary
Active introduction of the means of electronic data transfer in banking and concentration of a great part of settlements at the centres of interbank payments were related with creation of the automated systems of the clearing. Non-cash payments are growing in the market of payments This creates a need to execute real-time payments. The Bank of Lithuania designed and implemented a new real-time payment system LITAS which replaced the discrete clearing payment system TARPBANK that has been operating since 1993. After implementation of the new real-time payment system, the value of processed payment calls in this system was gradually growing. Malfunctions in the systems of interbank payments can destroy the payment between the subjects of the market, influence the needs of management for liquidity and create threat to stability of money. It is especially sharp with the growth of real time payments. The Methods of the article are the systematic analysis of literature, practical analysis of the Payment and Settlement Simulator BoF-PSS, analysis of real flow of payments in the payment system LITAS and modelling of interbank payments flow
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