Book « Payments and market infrastructures in the digital era »

Being updated

Means of payment, together with financial market infrastructures (payment systems, clearing houses, financial instrument settlement systems and central data repositories) play a fundamental role in the economy. They facilitate the circulation of money and securities and enable the financial markets to operate smoothly and securely, thus helping to finance the economy.

These systems remain largely unfamiliar to the general public. With the publication of a book which provides an overview of these areas, the Banque de France intends to play an educational role since issues involving payment systems and market infrastructures are central to its key missions: monetary strategy, financial stability and services to the economy.

This book begins with a chapter examining the mechanisms involved in money creation and ends with a chapter on innovation. The chapters in between deal with means of payment, financial instruments, payment systems and financial market infrastructures, their risks and their monitoring together with the economics of such infrastructures.