Definition ∞ An interbank ledger is a shared record-keeping system used by multiple banks to record and reconcile transactions between them. Traditionally, these systems are centralized and permissioned, facilitating wholesale payments and settlements. The ledger provides a common, consistent view of balances and transactions among participating financial institutions. Its primary purpose is to streamline interbank operations and reduce settlement risks.
Context ∞ The concept of an interbank ledger is undergoing transformation with the advent of distributed ledger technology (DLT) and central bank digital currencies (CBDCs). Many central banks and commercial banks are exploring DLT-based interbank ledgers to improve efficiency, reduce costs, and accelerate settlement times for wholesale transactions. The debate centers on the regulatory implications and the operational shifts required for such a transition.
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