Denmark’s RTGS proves resilient to liquidity stress test
Kronos responds to IT failure, lack of access to money markets and reduced intraday credit
The Danish real-time gross settlement system Kronos proved resilient to three liquidity stress-test scenarios carried out by the National Bank of Denmark, results published on May 9 show.
The central bank tested Kronos’ resilience to a large participant being unable to submit payments for a whole day, to the unavailability of the money market, and a reduction in participants’ access to intraday credit.
The exercise found that “participants have ample available liquidity, so the impact of an
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