5 April 2003 marked the tenth anniversary of launching the SORB system (Bank Accounts Servicing System) by the National Bank of Poland. The system was used to operate current accounts of the Polish banks and through them made interbank settlements possible. The SORB system was the first Polish system that utilised the core features of the Real Time Gross Settlement system (RTGS), as it made possible the execution of payment instructions submitted by banks in compliance with the rule of gross and real time settlement. Not only could Krajowa Izba Rozliczeniowa S.A. (The National Clearing House) begin its activities after the introduction of the SORB system (5 April 1993 saw the launch of the SYBIR system, based on the exchange of paper payment instructions among bank branches - members of the Clearing House), but also contributed substantially to a significant upgrade of the Polish payment system and activities performed by the banks. The SORB and SYBIR system replaced the interbank settlement mechanisms existing at the time, based on decentralised servicing of the accounts of bank units in the regional branches of the NBP. Such mechanisms could be characterised by a long settlement cycle, excessive involvement of the central bank (in terms of operations performed and by crediting settlements in the old system) and not fully secure rules for the performance of the settlement operation. Therefore, not only was the SORB system beneficial for an increase in the effectiveness and security of interbank settlements in Poland, but it indirectly affected the development of the interbank market as well, facilitating the implementation of many new types of operations. Furthermore, the establishment of the SORB system substantially improved the liquidity of banks by removing the money received from the settlement system but not booked (money on technical accounts), reflected in the NBP's balance sheet and arising from the previous interbank settlement system. In 1993, the SORB system was one of very few RTGS systems in use in Europe and worldwide at the time. In Europe, these systems entered a phase of substantial development as late as in the second half of the 90s in consequence of the European Union countries preparing for the launch of the TARGET system. However, the SORB system did not fully satisfy the banks and the NBP's needs for a modern and effective RTGS system, which would enable electronic exchange of orders and other electronic messages between the banks and the NBP. For these reasons, the SORB system was replaced by a more up-to-date SORBNET system in March 1993; the latter has been used by the banks ever since. Needless to say, it is also a RTGS system.