Comment: Payment system risks

While few would regard Britain's large-value payment system as risky - over its ten-year life, the system has suffered no major scares - how the system will bear up in a crisis or time of market stress is a cause for concern.

COMMENT BY CENTRALBANKNEWS

As the Bank of England's latest Payment System Oversight Report, published on Friday, shows, the Bank and the City of London are well aware of the risks.

The concern derives from the unusual degree of "tiering" in Britain's large-value payment system

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