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BOJ-NET Funds Transfers after the Implementation of Phase 1 of the Next-Generation RTGS Project

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  • Payment and Settlement Systems Department

    (Bank of Japan)

Abstract

In October 2008, the Bank of Japan launched Phase 1 of the Next-Generation RTGS (RTGS-XG) project. While the financial conditions in Japan remained tight during the first six months following the implementation, the enhanced BOJ-NET functioned seamlessly, facilitating the smooth flow of payments among financial institutions. Analysis of the BOJ-NET payment pattern after the start of Phase 1 finds that the average settlement time shifted to earlier in the day by one hour, while the aggregate liquidity requirement was reduced by 2 trillion yen. This indicates that the objective of the project, that is, enhancing both the safety and efficiency of large-value payments, has been successfully achieved for Phase 1.

Suggested Citation

  • Payment and Settlement Systems Department, 2009. "BOJ-NET Funds Transfers after the Implementation of Phase 1 of the Next-Generation RTGS Project," Bank of Japan Review Series 09-E-4, Bank of Japan.
    • Handle: RePEc:boj:bojrev:09-e-4
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    File URL: http://www.boj.or.jp/en/research/wps_rev/rev_2009/data/rev09e04.pdf
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    Cited by:

    1. Saiki Tsuchiya, 2013. "The Effects of Settlement Methods on Liquidity Needs: Empirical Study based on Funds Transfer Data," Bank of Japan Working Paper Series 13-E-2, Bank of Japan.

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