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Current legal issues affecting central banks. Volume 5 /

It is now generally accepted that a central bank has a duty to oversee the payment systems of a country. This responsibility is expressly recognized by the Maastricht Treaty, which lists among the four basic tasks of a central bank that is a member of the European System of Central Banks the promoti...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores Corporativos: International Monetary Fund. Legal Department, IMF Institute
Otros Autores: Effros, Robert C.
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, 1998.
Temas:
Acceso en línea:Texto completo

MARC

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520 0 |a It is now generally accepted that a central bank has a duty to oversee the payment systems of a country. This responsibility is expressly recognized by the Maastricht Treaty, which lists among the four basic tasks of a central bank that is a member of the European System of Central Banks the promotion of the "smooth operation of payment systems." Increasingly, the responsibility is finding expression in modern central bank legislation, not only in the European Community but elsewhere as well. While the concept of payment of an obligation is fundamental in law and commercial practice, its origin is shrouded in antiquity. Nevertheless, as the millennium draws to a close, the development of new methods of making payments (each with its legal framework) is accelerating. In what follows, several major payment systems will be considered. 
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