Giro aims to make interbank transfers immediate
Hungarian clearing house Giro and its owner, the National Bank of Hungary, are working on ways to eliminate waiting times for settlement of interbank transfers, the central bank said yesterday, Hungarian news agency MTI reported.
On Monday, Giro launched developments that will halve the time it takes to clear domestic interbank transfers to just one hour.
Last week, it was announced that intra-day interbank money transfers would be performed an average in one hour through the introduction of ten clearing cycles instead of the previous five.
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