Central Banking

Ten trends in large-value payment systems

A new paper published by the New York Federal Reserve highlights ten trends in the development of large value payment systems worldwide.

"Globalisation and technological innovation are two major forces affecting the financial system and its infrastructure. Perhaps nowhere are these trends more apparent than in the internationalisation and automation of payments," write the authors, Morten Bech, Christine Preisig, and Kimmo Soramaki.

The ten trends identified by the authors are:

· the diffusion of

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