This would be designed to facilitate emergency medium-term funding when liquidity shocks, in distressed capital markets, threaten banks that are otherwise solvent and profitable. It would be financed by voluntary contribution of the top twenty European banks. Although private, the fund would only intervene when European authorities determine that a bank needs support, providing guarantees at market conditions.
e)  Security: No Electronic payment mechanism can undermine the role of security and risk mitigation in promoting digital channels. There has to be continuous and concerted efforts to ensure that the digital channels are safe & secure. The confidence of customers shall be a key to deepening the usage of digital channels. 8.