Central Banking

CPMI proposes ‘global settlement window’

The Bank for International Settlements, Basel
The Bank for International Settlements, Basel
Photo: Ulrich Roth

The Committee on Payments and Market Infrastructures has developed the concept of a “global settlement window” as part of a push to improve global payments.

The concept aims to help regulators working to cut frictions in global payments caused by misalignment in the opening hours of real-time gross settlement systems. Because some systems are closed when others are open, cross-border payments are frequently held up, creating settlement risk and increasing costs.

The global settlement window is

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