The organisation responsible for controlling risks and promoting competition and efficiency in the payment system is:
A)the Australian Payments Clearing Association
B)Austraclear
C)the Payments System Board
D)the RBA's Payment Settlement Review Group
E)SWIFT.

Question

Quizplus · Accepted Answer

The Payments System Board is responsible for promoting competition, efficiency, and stability in the payment system, as well as overseeing risk management frameworks. The Australian Payments Clearing Association (A) is a self-regulatory organization and industry association, Austraclear (B) is a securities clearing and settlement system, the RBA's Payment Settlement Review Group (D) is a committee that monitors and reviews the RBA's payment systems operations and SWIFT (E) is a global financial messaging network.

The Organisation Responsible for Controlling Risks and Promoting Competition and Efficiency