A pan-European automated clearing house – clearer in the jargon – for retail payments denominated in EUR, operated by the Euro Banking Association, which started operations on April 28, 2003. It should be noted that STEP2 is only responsible for clearing, i.e., the receipt, sorting, mutual clearing and delivery of payment information. Settlement, i.e. the transfer of funds or cover acquisition, takes place outside STEP2 in existing systems such as EURO1, or TARGET. – In August 2014, the ECB issued a regulation on oversight requirements for systemically important payment systems (SIPS). – See Payment Systems. – See ECB Annual Report 2012, p. 144. (oversight issues) and the respective ECB Annual Report, chapter “Oversight of payment systems and market infrastructures”).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/