easy · Frm Part 2 Liquidity & Treasury Risk

In a high-value payment system, why might a participant strategically delay outgoing payments until later in the afternoon?

  1. To reduce the market risk of the underlying securities being settled
  2. To comply with CLS pay-in requirements which must be met at the end of day
  3. To conserve liquidity by 'free-riding' on incoming flows from other participants
  4. To increase its intraday throughput score for regulatory reporting

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