(G) Business process flow 1) Customer credit transfer with LSF mode Once the sender bank receives a payment request from the payer (1), the sender bank debits from the payer’s a/c through its CBS (2, 3), and sends the payment instruction message “Customer credit transfer” (pacs.008) to CBM-NET FTS (4). Then, CBM-NET FTS tries to settle the payment instructions in LSF mode (5, 6). After the completion of settlement, CBM-NET FTS sends the notification messages to both the sender bank and the receiver bank (7) and the customer credit transfer (pacs.008) to the receiver bank (8). According to the customer credit transfer, the receiver bank credits the payee’s a/c (9) and notifies the payee (10). 2) Bank transfer with LSF mode The business process flow is the same as noted except (1, 2, 3, 9, and 10). Source: Preparatory Survey Team Figure 3-14 Business process of customer credit transfer with LSF mode (H) Simultaneous Processing of DVP and Collateralization (SPDC) SPDC, which is a kind of function for saving settlement liquidity not only for funds but also for T-Bond. SPDC worked efficiently and effectively when the global financial crisis happened in 2008. More specifically, the financial market, which had 40