These players do not hold liquidity reserve requirement (LRR) balances with the central bank. The question is, should these participants be given preferential treatment? ·  After establishing an RTGS system, what is an appropriate cost recovery policy the central bank should adopt to sustain the operations of the system while at the same time ensuring that the system is affordable.
This event is part of a sequence of very productive workshops on asset pricing that have been jointly organised by the ECB and the Bank of England for several years now. I am very pleased to see this established practice of collaboration across our two central banks continuing and gaining further ground.