CSM Definition.
Clearing and Settlement Mechanism: infrastructure that clears and settles SEPA payments between PSPs. Examples: STET in France, EBA Clearing’s STEP2 and RT1 at the pan-European level, and the Eurosystem’s TIPS for instant payments in central bank money. A PSP must be reachable on a CSM, directly or indirectly, for every scheme it participates in.
See also
Where this term appears
GuidePayments in AustriaGuidePayments in the Baltics and FinlandGuidePayments in the Netherlands and BelgiumGuidePayments in Germany, Austria, and SwitzerlandGuidePayments in FranceGuidePayments in Greece, Cyprus, and MaltaGuidePayments in Spain and PortugalGuidePayments in ItalyGuideMonaco, Andorra, San Marino, Liechtenstein, and the Crown DependenciesGuideB2B payments around the worldGuideChecks around the worldGuideInstant payments around the world