FSB calls for more action on cross-border payments
Reports say regional disparity remains and “significant progress” is needed to meet targets
The Financial Stability Board (FSB) has urged key stakeholders to make stronger efforts to improve cross-border payments.
The FSB today (October 21) published three separate reports, focusing respectively on user experience, the implementation of legal entity identifiers (LEIs) – unique codes assigned to organisations involved in financial transactions – and the actions taken by international organisations over the past year.
Last year, the FSB established a benchmark and target for improving user
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 Payments
Kenyan RTGS system transitions to new messaging standard
Central bank says ISO 20022 will help it monitor fraud and facilitate cross-border payments
API standards would open up payment possibilities, says BIS
Bank also highlights financial and operational risks of linking systems across borders
Australian central bank proposes caps on card fees
Small businesses pay “substantial” surcharges during debit and credit card transactions, says RBA
Swift to conduct live digital asset transaction trials from 2025
Network’s head of innovation says functionality will meet increasing demand for digital transactions
Hong Kong launches second phase of CBDC pilot
Next stage will explore use cases for e-HKD and tokenised deposits
Crypto assets not fit for reserve purposes – World Bank study
Economists say central banks are unlikely to move into non-CBDC digital currencies “any time soon”
Bank of Canada pivots away from retail CBDC
Decision to scale back research follows similar move by Australian central bank
Central bank digital currencies must be user-friendly – ECB study
To be widely adopted, CBDCs will need to combine best aspects of existing payment methods