Central Banking

Central bankers want action on contagion threat

An influential group of central bankers has urged authorities and the payments industry to tackle the risks presented by the links between systems.

The Committee on Payment and Settlement Systems, a forum for central banks which meets at the Bank for International Settlements in Basel, has said that the speed and multiplicity of potential disruption channels across the global payment system are not adequately reflected in stress tests, risk controls and contingency planning.

Timothy Geithner,