Interdependence requires payment overhaul
Central banks need to adjust their oversight of payment and settlement systems to the new reality of heightened interdependence in financial markets, said Haruyuki Toyama, a deputy director general at the Bank of Japan at SIBOS, an industry forum organised by SWIFT.
While markets moving closer together or establishing links bring benefits, a recent report by the Basel-based Committee on Payment and Settlement Systems highlighted the existence of risks institutions face from other participants
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