The Central Reserve Bank of Peru (BCRP) modified the Regulation of the Real Time Gross Settlement System (LBTR), which is the main payment system in the country, in order to strengthen its security and efficiency.
“Among the main changes made has been the simplification and reduction of the rate level. Thus, a single rate has been established for instructions sent electronically; and the rates for instructions sent by coded facsimile and for the settlement of compensations have been reduced ”, the issuing entity maintains through a statement.
Additionally, additional risk control measures have been established, such as the obligation to establish an Intraday Repo Pre-Reserve for banking companies and non-banking entities that access the services of the Electronic Clearing House, and deadlines for the implementation of the LBTR Application and Web Client by the new Participants.
The changes contemplated in the Circular b° 029-2021-BCRP They will come into effect from December 2021.
Through the LBTR system, administered by the Central Reserve Bank of Peru, large payments are made in the Peruvian economy. In addition, it manages to mobilize the equivalent of six times the GDP annually, which denotes its high relevance for the country.
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