Clearing House Interbank Payment System

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Clearing House Interbank Payment System

• ????????????

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Chips??
??chips???? ??chips?????? ??chips?????? ??chips???
??
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??chips????

• CHIPS(clearing house interbank payment
  system)?????????????????,????????(NYCHA)????????
  ??????????,??????????????

4
????

1. ???????(NYCHA)??CHIPS,????????????,????????????
   ??????????

1998 Chips?ChipsCo????????????
2001 CHIPS?????,??????????????

• ???????????????,?????????????,
• ???????????????,????95?????????,??
• ???????34??,???1.9?????

5
???????
Chips????????????,??????????????
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Chips?????

• ??Chips?????????
• 1.?????????????????,??????????????????19??
• 2.??????????????????,???????????????,????????????
  ?
• ??Chips??????????????????????????????????????

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Chips???????

• ????????????????????
• ??????????,??????????????????CHIPS???????,????????
  ?????????????
• ??????CHIPCo??????CHIPS??????CHIPCo??????????????,
  ??????????

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Chips?????

• ?????
• ???1853?,??????????,?????????????????????,????????
  ??1913?????,?????????????????????,????,???????????
  ????????????????????????????????

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Chips?????

• ??????
• ????????????????????????,??????,??Chips?????

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??chips??????
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Step1 ??????? Prefund balance account

• ??Chips????????????????????,????Fedwire??????Chi
  ps??????????,???????????????????????????????Chips?
  ???????,?????????,?????Chips??????????????????????
  9??

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Step2 ???? 900500

• ????(??)?CHIPS?????????????CHIPS????????????
  ????????????????????????????????????????????
  ?????????????????/????????????CHIPS?????????????
  
• Netting process
• ??????????????????????

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Step3 ???? 500??

• CHIPS????????????,?????????????????????????
  ??????????????????CHIPS??CHIPS?????????,?????

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????

• 1.?????????,???????
• 2.???????????????????????????????,????????????

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????(?)
Fedwire
?? ??
Position (??)
Chips
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????(??)

• ??????900??,Fedwire?Chips????,????????????
• ???????,???????
• ???????????????????,??Fedwire????,??????

17
????
18
????

• ????,??X???Y????
• ?????????,??????????
• ????X?Y??Chips?????,????????A?B??????
• ??X?Y??Swift???A?B??????
• ??A?B???Fedwire???Chips?????
• ?????Swift?Fedwire??Chips??,
• ????Chips?????A?B?????
• ??????

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??Chips??????

• ??????????????,???????????????????????
• ????(settlement risk)??????(???????????????),????(
  unwinding risk)(????????????????),?????(Liquidity?
  risk)(?????????????????)?
• ??????????????????????????????????,???????????????
  ??????????????????????????????????????????????,???
  ??,????????????????????

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????

• ?????????????????????????????????????
• ??????????????????,??????,???????????????????????
  ????,??????,??????????,???????????????????????
• ???????????????????????????????????,?????????????
  ?

21
?????

• ????(operationalrisk)????????????????????
  ??????????????? ,??????,??????????????????????? ?

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?????

• ??,????????
• ??,?????????????????????????????
• ??,?????
• ???????????????????????

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?????????

• ???????????
• ????????(BILATERAL-CREDIT-LIMITS)??????????????
  ??????????????????????
• ????????(NET DEBIT CAPS)?????????????????????
  ?????,???(?5)??????????????????
• ???,???????????????CHIPS???????????????????????
  ?,????????,??????????

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?????????

• ?????????
• ?????????????????????????????,CHIPS???????????
  

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?????????

• ???????
• ????????????????????,????????,??????????CHIPC
  o?????,???????????,???????????

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??Chips?????
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???????

• 80???????????????????????????
• 1980???????????????
• 1982???-????????
• 80??????????????????
• (1)???????????????,???????????,??????????
• (2)???????????????????????????????????????????????
  ????????,?????????????????????????????????????
• 1990?,????????????????,???????????????????(Lamfalu
  ssy Standard)----- ??????????????????????????????
  ?????,???????????

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???????

• ?1990??,CHIPS??????????,???????????????,??????????
  ???????????????,??,??????????????????,???????????

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???????

• ???????????,???????????,??????????????????,?????CH
  IPS??????????????????????????

30
???????

• ????????????????
• ????????????,??????????

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???????

• 2001?,CHIPS??????,????????????
• ??????????????,?????????????

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???????

• ?????????????,??????????????