I bonifici istantanei nella normativa europea e il tempo nella prestazione fra operazione e sistema di pagamento

Abstract

Instant Credit Transfers in EU Law and the Time in Performance Between Transaction and Payment System

The “instantation” of the legal relationship is a dimension of the legal phenomenon. Instant payments are part of it. The performance time in the payment transaction is reduced to the size of seconds, a very short essential term which is a prominent feature of the phenomenon first and of the contract after. This operational efficiency has a side effect: liquidity risks for the payer’s bank. The liquidity crisis of Silicon Valley Bank is a concrete manifestation of this, which should not be specified: different risks require appropriately different rules.