If a bank has insufficient funds available in its settlement account, the SAMOS system will automatically grant a loan to the bank against acceptable collateral and settlement will then take place. When the necessary funds are available, settlement takes place immediately. Settlement in SAMOS is considered final and irrevocable and is based on a pre-funded (credit push) principle. Participants must provide enough funds to ensure that the settlement system functions smoothly. It is an automated system that settles obligations in real- time or in a delayed settlement arrangement.Įach settlement participant has an account with the SARB from which interbank settlement obligations are settled.
The SAMOS system facilitates the settlement of domestic individual high-value payment transactions, retail transaction batches, and bond and equity market settlement obligations.
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