The payment system functions are to provide:a.Clearing of transactions.b.Settlement of transactions.c.Payment orders.d.Flow of funds between Authorized Deposit Taking Institutions and the RBA.e.Exchange Settlement Account Funds.

functions can be undertaken by a Payments Bank

The following functions can be undertaken by a Payments Bank except:

Outline the structure of the two main accounts of the balance of payments.

The government institution that has responsibility for the amount of money and creditsupplied in the economy as a whole is theA) central bank.B) commercial bank.C) bank of settlement.D) monetary fund.

The principal objective of purchase system is to ensure that only valid creditors receive payment and that amounts paid are timely and corrects.Select one:TrueFalse