Centro de Estudios Monetarios LatinoamericanosWorld Bank2013-06-102013-06-102006968-5696-09-8https://hdl.handle.net/10986/13819This report covers the Western Hemisphere payments and securities settlement forum center for Latin American monetary studies and focuses on several issues. The first section covers economic and financial markets overview of Belarus. This section covers the financial sector, capital markets, and major trends in the payments systems. The second section covers institutional aspects such as the general legal framework, role of financial institutions, market structure and regulation, and the role of the securities regulatory. The third section covers the payment media used by non financial entities. The fourth section describes payments, such as inter-bank exchanges and settlement circuits. The fifth section touches on securities, market structure and trading. While the sixth and seventh section cover the topic of settlement circuits for government and corporate securities. The report concludes with discussion on the role of the central bank in clearance and settlement systems and well as the supervision of such systems.en-USCC BY 3.0 IGOACCOUNT HOLDERSACCOUNTINGACCOUNTING STANDARDAMOUNT OF MONEYATMATMSAUDITSAVERAGE GROWTHBALANCE OF PAYMENTSBALANCE SHEETSBANK PAYMENTSBANKING ASSETSBANKING SECTORBANKING SYSTEMBENEFICIARIESBENEFICIARYBONDBONDED WAREHOUSESBOOK ENTRYBOOK ENTRY FORMBROKERAGEBROKERAGE HOUSESBUSINESS OPPORTUNITIESCAPITAL ACCOUNTCAPITAL GOODSCAPITAL MARKETCAPITAL MARKETSCAPITAL MOVEMENTSCAPITALIZATIONCENTRAL BANKCENTRAL BANKSCENTRAL SECURITIES DEPOSITORIESCENTRAL SECURITIES DEPOSITORYCOLLATERALCOLLATERALIZATIONCOLLECTION PROCESSESCOMMERCIAL BANKINGCOMMODITIESCONTRIBUTIONCONTRIBUTIONSCORPORATE SECURITIESCREDIT CARDCREDIT CARDSCREDIT COOPERATIVESCREDIT LINECREDIT TRANSACTIONSCREDIT UNIONSCREDITORCREDITORSCREDITSCURRENCYCURRENCY DEVALUATIONCURRENT ACCOUNTCURRENT ACCOUNTSCUSTODYDEBENTURESDEBIT CARDSDEBT INSTRUMENTSDEBT SERVICEDEBT TRANSACTIONSDEFICITSDEPOSITDEPOSIT INSURANCEDEPOSITSDEPRECIATIONDERIVATIVEDERIVATIVE INSTRUMENTSDERIVATIVESDEVELOPMENT BANKDIGITAL SIGNATURESDOMESTIC CURRENCYECONOMIC ACTIVITIESECONOMIC ACTIVITYEFFICIENT MARKETELECTRONIC FUNDELECTRONIC PAYMENT SYSTEMELECTRONIC TRANSFERELECTRONIC TRANSFERSEXCHANGE CONTROLEXCHANGE RATEEXCHANGE RATESEXTERNAL DEBTEXTERNAL INDEBTEDNESSFEDERAL RESERVEFEDERAL RESERVE BANKFINANCIAL ADVISORY SERVICESFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIATIONFINANCIAL MARKETFINANCIAL POSITIONFINANCIAL PRODUCTSFINANCIAL RESOURCESFINANCIAL RISKSFINANCIAL SECTORFINANCIAL SYSTEMFINANCIAL TRANSACTIONFINANCIAL TRANSACTIONSFOREIGN BANKSFOREIGN CURRENCIESFOREIGN CURRENCYFOREIGN EXCHANGEGOVERNMENT SECURITIESGOVERNMENT SECURITIES MARKETGROSS DOMESTIC PRODUCTGROUPS OF BORROWERSGUARANTEE FUNDHOLDINGHOLDING ASSETSINFLATIONINSTITUTIONAL INVESTORSINSURANCEINSURANCE SCHEMESINTEREST RATEINTEREST RATESINTERNATIONAL STANDARDSINTERNATIONAL TRADEINVESTMENT FUNDSINVESTMENT PORTFOLIOSISSUANCELEGAL FRAMEWORKLEGAL INSTRUMENTSLEGAL PROVISIONSLEGAL RISKSLIQUIDATIONLIQUIDITYLIQUIDITY RISKLIQUIDITY RISKSLITERACYLOCAL CURRENCYLONG TERM BONDSLOW INCOMEMARKET PARTICIPANTSMARKET STRUCTUREMARKET TRANSACTIONSMICROFINANCEMONETARY AUTHORITIESMONETARY FUNDMONETARY INSTRUMENTMONETARY POLICYMONEY LAUNDERINGMONEY MARKETMUTUAL FUNDSNATIONAL BANKNATIONAL SECURITIESNATIONAL TREASURYNET DEBTNOTARYOPEN MARKETOPERATIONAL RISKSOUTPUTSPAYMENT CARDSPAYMENT ORDERSPAYMENT SERVICESPAYMENT SETTLEMENT SYSTEMSPAYMENT SYSTEMPAYMENT SYSTEMSPAYMENTS SYSTEMPAYMENTS SYSTEMSPENSIONPENSION SYSTEMPENSIONSPORTFOLIOPORTFOLIO INVESTMENTSPORTFOLIO OF SECURITIESPRIVATE BANKSPRIVATE DEBTPRUDENTIAL REGULATIONPRUDENTIAL REGULATIONSPUBLIC CONFIDENCEPUBLIC DEBTPUBLIC DEBT INSTRUMENTSPUBLIC OFFERINGPURCHASING POWERREGULATORSREGULATORY FRAMEWORKREGULATORY STANDARDSRENEGOTIATIONREPOREPO TRANSACTIONSRESERVESRESPONSIBILITIESRETURNRISK CAPITALRISK CONTROLRISK DIVERSIFICATIONSALARIESSALESAVINGSSAVINGS ACCOUNTSSECONDARY MARKETSECURITIESSECURITIES LAWSECURITIES MARKETSECURITIES MARKET LAWSECURITIES REGULATORSSECURITIES TRANSACTIONSSEIZURESETTLEMENTSETTLEMENT OF TRANSACTIONSSETTLEMENT SERVICESSETTLEMENT SYSTEMSSHAREHOLDERSHAREHOLDERSSHORT TERM DEBTSMALL BORROWERSSOLVENCYSTATE BANKSSTOCK BROKERSSTOCK EXCHANGESTOCK EXCHANGESSTOCK MARKETSUPERVISION MECHANISMSSURETYTAXTAX COLLECTIONTERM DEPOSITSTRADINGTRADING SYSTEMSTRANSACTIONTRANSPARENCYTREASURYTRUST TRANSACTIONSUNEMPLOYMENTUNIVERSAL BANKINGVALUABLEVALUE PAYMENT SYSTEMWorld Bank10.1596/968-5696-09-8