FUNKCIONISANjE TRANS-EVROPSKOG PLATNOG SISTEMA

Petrović Pero (Институт за међународну политику и привреду, Београд), pera@diplomacy. bg.ac.rs

The basic infrastructure of the financial system consists of the payment and clearing system, and since the financial system is the lifeblood, their effective functioning is the basis of successful business of any market economy. Integral components of any effective payment systems are allowed payment instruments, institutional and organizational networks of interbank money transfer systems, the maintenance of technical standards and methods of transferring, clearing agents and the unique operational rules. This article aims to explain only the relations that arise on the transfer of funds, using one of the modalities of calculation and in the interconnected system within the EU. The paper European payments and settlement systems are considered as synonyms, bearing in mind the specific, decentralized structure of pan-European project. The aim is to target trans-European accounting system in real time and on gross basis (the reasons for the introduction, technical infrastructure and accounting process, the participants and the calculation of transactions, management of the system) and the further development of the TARGET system TARGET two. Clearing accounting system in real time gross settlement implies that the payment to the recipient\'s account (credit) cannot be performed before the payment order is implemented by payment from the account of the sender (debit). In accordance with the principles established by the central bank, the payment system can be used by other financial institutions.

Keywords: European Union, settlements system, target, legal framework, specificity