SYSTEMICALLY IMPORTANT PAYMENT SYSTEM


Meaning of SYSTEMICALLY IMPORTANT PAYMENT SYSTEM in English

A payment system is systemically important where, if the system were insufficiently protected against risk, disruption within it could trigger or transmit further disruptions amongst participants or systemic disruptions in the financial area more widely.

See also:

European Central Bank English Glossary.      Английский глоссарий Европейского Центрального Банка.