Real Time Gross Settlement

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Real Time Gross Settlement

An online system allowing the instantaneous transfer of funds and securities between banks. Real time gross settlement exists to settle large transactions between banks so that they can continue to extend credit to each other and to customers. Examples include the fed wire in the United States and CHAPS in the United Kingdom.
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References in periodicals archive ?
The harbors in Europe have accepted electrically powered Rubber Tired Gantry (RTGs) to decrease contamination and release of glass house gas.
To further lessen its footprint at its flagship while addressing productivity demands, ICTSI recently made a fresh order of 16 new hybrid RTGs again from Mitsui.
On June 11, the RBI directed banks to withdraw the charges levied on the National Electronic Funds Transfer (NEFT) and Real-Time Gross Settlement (RTGS) transactions.
The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the National Electronic Funds Transfer (NEFT) System is used for fund transfers of up to INR2, 00, 000.
Once everything is delivered, the MICT fleet will be composed of 18 quay cranes and 58 RTGs the largest containerized cargo handling fleet in the country.
However, former finance minister and senior opposition leader Tendai Biti, who describes the RTGS dollar as "rubbish", told African Business the new currency was bound to fail.
Aside from the ability to stack one over five containers high and six containers wide, including truck roadway, the RTGs include a number of safety and productivity-enhancing features such as Active Load Control, which prevents load sway and provides micromotions in both trolley and gantry directions; Auto-steering with container positioning interfaced to the terminal operating system; stack collision prevention; a truck guiding system; and a truck trailer anti-lifting system.
The four RTGs are expected to be commissioned soon after the completion of operational testing and safety certifications.
'The new RTGs will improve terminal efficiency and allow us to match demand in terms of operational performance.
Finland's Konecranes has received an order for four Rubber Tired Gantry (RTG) cranes from Egypt's Damietta Container & Cargo Handling Company (DCHC), following an initial order for six RTGs back in 2009.
The central bank said computerised payments on its Real Time Gross Settlement Payment System (RTGS) were suspended at around 6am after a "technical issue" was discovered following weekend routine maintenance.