Central Banking

CPMI proposes ‘global settlement window’

BIS committee says window could work as focal point for aligning payment systems worldwide

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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