When Banks Run Short in RTGS, Where Does the Money Come From? Sources of Intraday Liquidity
Starting from the intraday liquidity gaps commercial banks face in RTGS, this article explains the three sources banks use to fill them: their own reserves, the interbank market and central bank intraday credit. It compares how major RTGS systems in the US, the euro area, the UK, mainland China and Hong Kong handle this, and draws on PFMI Principle 7 and the Basel Committee's intraday liquidity monitoring tools to show how the risks are shared.