the payments system in trinidad and tobago - Central Bank of ...
the payments system in trinidad and tobago - Central Bank of ...
the payments system in trinidad and tobago - Central Bank of ...
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37THE PAYMENTS SYSTEMIN TRINIDAD AND TOBAGOGLOSSARYOversight:A public policy activity pr<strong>in</strong>cipally <strong>in</strong>tendedto ensure <strong>the</strong> safety, soundness, reliability<strong>and</strong> efficiency <strong>of</strong> <strong>the</strong> payment <strong>system</strong><strong>in</strong> order to promote <strong>the</strong> effectiveness <strong>of</strong>monetary policy, contribute to <strong>the</strong> stability<strong>of</strong> <strong>the</strong> f<strong>in</strong>ancial <strong>system</strong> by limit<strong>in</strong>g <strong>the</strong>risk <strong>of</strong> <strong>system</strong>ic crises, <strong>and</strong> ensure <strong>the</strong>preservation <strong>of</strong> public confidence <strong>in</strong>money, money transfer mechanisms <strong>and</strong><strong>the</strong> use <strong>of</strong> payment <strong>in</strong>struments.Payee:See BeneficiaryPayer:The party to a payment transaction whichissues <strong>the</strong> payment order or agrees to <strong>the</strong>transfer <strong>of</strong> funds.PaymentInstrument:Any <strong>in</strong>strument which enables <strong>the</strong> holder/user to transfer funds.
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