Read this press release to discover that Interpay, the Dutch ACH, complies with central bank standards.
That is, the release should read that one of the systems of Interpay (rather than Interpay itself) complies with central bank standards. It appears from the DNB report in its Quarterly bulletin from September 2005 that Interpay's Clearing & Settlement System (CSS) complies with the BIS standards for system-critical retail payment systems. This covers ten Core Principles that relate to all aspects of an organisation: from security and management efficiency to control of financial risks and legal matters.
Too bad that this unique system, with features as half-hour settlement periods during the day, may have to be adapted / downgraded to fit the unified Target2 environment... just to show how European harmonisation experience in payments may result in improvements in Europe generally, but not for the Dutch in particular....
