Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers
The vast majority of Payments Benchmarks 2022 respondents said their payments oversight functions cover systemically important systems. Fewer report having oversight of non-bank payments operators and service providers.
Most respondents (97%) said their payments oversight function includes all systemically important payments systems. The one central bank that said it currently does not have oversight of systemically important systems said it is currently working on a draft regulatory framework
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Payments Benchmarks 2023 – executive summary
Payments are undergoing rapid technological change, creating opportunities – and challenges
Payments Benchmarks 2023 report – moving money in shifting conditions
Data reveals differences in CBDC paths, RTGS systems, instant payment plans and budgets
RTGS systems are used free of charge in one-tenth of jurisdictions
RTGS systems are used free of charge in one-tenth of jurisdictions
Median RTGS system processes nearly $100bn annually
Median value of payments rose by $15bn from the previous benchmark
Primary RTGS systems have average $1.65m in operating costs
Majority of central banks increased payments system divisions budgets in the past year
Payments oversight is under-resourced for a third of central banks
Respondents identify shortage of human capital, capacity building and dated technology as concerns
Few non-banks have access to RTGS systems
Maximum number of institutions reported to have access to one RTGS system was 233
Most central banks have payment and settlement supervision mandates
Payment system laws contain oversight powers in two-thirds of jurisdictions