+26. When choosing the messaging or payment and settlement system(s), CASPs and ICASPs should take …

26. When choosing the messaging or payment and settlement system(s), CASPs and ICASPs should take …

When choosing the messaging or payment and settlement system(s), CASPs and ICASPs should take proportionate, risk-sensitive measures to assess:

  • a) the system ’ s ability to communicate with other internal core systems and with the messaging or payment and settlement systems of the counterparty of a transfer, and its compatibility with other blockchain networks;
  • b) the reachability of the protocol (i.e. the diversity and accuracy of counterparties that can be reached using the protocol – subject to the CASP's own due diligence assess-ment – and the rate of transfers that would successfully be sent to the intended ben-eficiary or received from the originator);
  • c) how the system enables the CASP or ICASP to detect a transfer with missing or incom-plete information;
  • d) data integration capabilities, data security and data reliability of the system.

4.3.2. Multi-intermediation and cross-border transfers

Transfer of funds

1. Overview

,

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • EBA - Published by the European Banking Authority at https://www.eba.europa.eu/