Role of the NBRM in the Payment System in the Republic of Macedonia
Operational function
The National Bank of the Republic of Macedonia is the owner and the operator of MIPS–Macedonian Interbank Payment System. It is a system for real time gross settlement. NBRM ensures smooth functioning of the system and realization of all operations initiated by the participants. The participants conduct the operations in the system in accordance with the MIPS Mips operational rules.
NBRM is in permanent contact with the employee authorized for work with the MIPS in each of the participating institutions in order to perform successful settlement of all transactions in the current day.
Besides, the National Bank of the Republic of Macedonia is a bank of the state and the Treasury account is run with the NBRM.
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