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Banking Settlements of Accounts

Banking Settlements of Accounts

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  • RTGS system– from December 3, 2010, new Real Time Gross Settlement (RTGS) system was put into operation, consequently, the previous system was cancelled. The rule of filling of payment order, which is regulated by the normative document of the Minister of Finance, doesn’t change for payers. In the case of payments to be made to Treasury, TRESGE22 can be indicated in the bank code field of the receiver of the payment order. In the case of return of payments, made by Treasury Service, commercial banks have to return the amount to the treasury code 302009921.
  • CSD system– payment and securities (CDS) system was introduced in GPSS system. Treasury Service was involved in the mentioned project with the status of participant of the system of settlement of accounts with state securities. Settlements Department of Treasury Service took active part in introduction and validation of the system. At present the new systems are functioning successfully.
  • SWIFT system– Treasury Service joined the System of World Interbanking Financial Telecommunication (SWIFT). The system was introduced and the personnel were trained for the purpose of mastering in functional. At present stage, currency operations are carried out with the National Bank of Georgia (correspondent) through SWIFT, which ensures high quality of information exchange and fast performance of currency operations.
  • Report Manager program– for the purpose of preparation of operational information on earnings received during the day in regard to the amounts, transferred to the united account of the Treasury, Report Manager program was introduced for settlement of accounts, which ensured preparation of information according to the types of earnings and treasury codes.