Payment and Settlement Systems in Finland

Foreword 5

Payment Systems: Overview and Prospects 9
Ralf Pauli

Cash 21
Seppo Eriksson - Tom Kokkola

Banks' Payment Systems 59
Markku Hirvonen - Maija Keskinen - Eero Kostamo - Vuokko Pitkänen - Juhani Saarento - Timo Ylitalo

The Bank of Finland Interbank Funds Transfer System and Payment Clearing 109
Marianne Palva

Intemational Payments 121
Jyrki Aarnio - Mervi Arponen - Jorma Hilpinen - Leena Karlsson - Markku Kemppainen - Lea Latva-Pukkila - Hannu Lohikoski - Risto Savolainen - Olavi Setälä - Hannu Wiksten

Clearing and Settlement of Securities Transactions: Description, Regulation and Intemational Recommendations 161
Maritta Vehmas

Book-Entry Securities System and Clearing and Settlement of Book-Entry Transactions 177
Liisa Jauri

Clearing and Settlement of Money Market Transactions at the Helsinki Money Market Center 187
Erkki Vehkamäki

Trading, Clearing and Settlement on the Helsinki Stock Exchange 199
Juha Kaiponen

Standardized Derivatlves: Trading and Clearing
Jan Forsbom - Timo Laitinen

New Payment Systems and the Central Bank
Harri Hasko - Harri Lahdenperä - Ossi Leppänen - Antti Suvanto

Literature on Payment Systems