Citi Payments Perspectives

29 Treasury and Trade Solutions Citi Payments Perspectives Global Initiatives Payments Infrastructure Developments Regional Developments (North America) PVP Payment-Versus-Payment A PvP settlement aims to combat FX settlement risk. RFP Request for Pay Request to Pay is a digital request that the payer receives on their mobile device, usually on a banking application or third-party fintech application. RLN Regulated Liability Network The RLN is envisaged as a distributed ledger technology (DLT) network representing the liabilities of different institutions without changing the underlying legal instruments. RTGS Real-Time Gross Settlement System Real-time gross settlement systems are specialist funds transfer systems where the transfer of money or securities takes place from one bank to any other bank on a “real-time” and on a “gross” basis. RTP Real-Time Payments Real-Time Payments (RTP) network that enable consumers, businesses, and governments to immediately send and receive funds 24/7/365. SBP Synthetic Bank Providers SETL SETL SETL is an initiative to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology. SIX SIX Interbank Clearing Swiss FMI Operator. SNB Swiss National Bank STE Secure Token Exchange A security token exchange is effectively a stock exchange that supports the trading, deposit and withdrawals of security tokens. STP Straight Through Processing Straight-through processing is a method used by financial companies to speed up financial transactions by processing without manual intervention. TCH The Clearing House TCH is a private sector, payment system infrastructure that operates an electronic check clearing and settlement system, a clearing house, and a wholesale funds transfer system. TMP Transaction Management Platform The Transaction Management Platform (TMP) seeks to fundamentally transform the current SWIFT model and move beyond store and forward messaging services to provide comprehensive transaction management services. TPSP Third Party Service Provider A third-party service provider is generally defined as an external person or company who provides a service or technology as part of a contract. TxB Transaction Banking VA Virtual Account A Virtual Account (VA) is a reporting tool, a ledger record and not an actual physical bank account. Continued � Global Initiatives Financial Stability Board (FSB) Enhancing Cross-Border Payments Roadmap Emerging Payments and Digital Assets Payments Infrastructure Developments ISO 20022 SWIFT Transformation Instant Payments Financial Market Infrastructure (FMI) Interlinkage Initiatives Regional Developments (North America) Immediate Cross-Border Payments (IXB) TCH Request for Pay (RFP) Bill Pay Latest on Fed/CHIPS ISO Timelines Lynx — Canadian High-Value Payment System Glossary