RBA begins push for ISO 20022 payments migration
Central bank wants to make the switch before Swift ends support for some message types
The Reserve Bank of Australia and the Australian Payments Council have launched a consultation on how to migrate the payment system to the ISO 20022 standard, before older messaging standards are discontinued.
Payments messaging service Swift is planning to discontinue several categories of messages for cross-border payments and correspondent banking, and migrate them to the interoperable ISO 20022 standard in 2025. The RBA and APC plan to work with the industry to develop proposals and
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on FMI
EBA tells crypto providers to offer supervision ‘contact points’
Tightening AML/CFT regime reflects increasing risks in sector
Central Bank of Iraq bans payments to ‘agents’ of TikTok
Platform is “offensive to the social fabric”, says minister of communications
Bank of Lithuania steps up AML/CFT measures for crypto
Bank to co-operate with financial crime investigators to oversee ballooning digital assets sector
Banxico ops chief confident on swaps reference rate transition
Major exchanges to introduce TIIE de fondeo on November 22, with derivatives liquidity expected to grow
Supervise crypto first, say BdF and French markets authority
French supervisors call for Europe-wide regulation of digital asset class
PBoC and HKMA to link up instant payment systems
Trial in 2025 will allow residents to make cross-border small-value transactions
Central banks must navigate impact of tokenisation – BIS
Paper weighs in on how policy-makers should react to innovations in financial market infrastructure
MNB calls on Revolut to open bank subsidiary, not branch
Central bank says firm’s Hungarian customers deserve full deposit protection offered by banking laws