More progress needed on cross-border payments – Bailey
BoE governor says G20’s targets for 2027 are unlikely to be met
More work needs to be done to tackle the remaining sources of friction in cross-border payments, the Bank of England governor and chair of the Financial Stability Board (FSB) has said.
“While we have done a lot at the international level, ultimately we are far from reaching the targets the G20 set for 2027,” Andrew Bailey told the FSB Payments Summit held at the BoE in London on March 12.
The Group of 20 launched a roadmap in 2020 to make cross-border payments “faster, cheaper, and more
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: www.centralbanking.com/subscriptions
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
DNB to focus on payments system’s resilience and autonomy
Strategy aims to ‘broaden the range of options in the payments landscape’
Stablecoins pose risks to singleness of money – BoE study
Paper explores how monetary cohesion might be preserved amid digital innovation
Philippines may not reach digital payments goal, says governor
Rate cuts will have limited impact on growth, despite BSP having ample policy space, says Remolona
Waller: ‘Skinny’ master accounts can shield Fed from legal risk
Governor also argues that stablecoins are forcing banks to innovate with payments
Iraq’s KRG launches payment system for government bills
Central bank-approved platform forms part of digitisation efforts in autonomous Kurdistan Region
Brazil’s Pix gaining prominence in B2B transactions – report
Small businesses increasingly using platform for procurement, study from fintech company finds
Nexus picks operators to build and run ‘network of networks’
CEO expects global scalability following launch of multi-country fast payments linkage
Tech issue caused RBA systems outage, says Bullock
Australian governor apologises and says payments failures were ‘not acceptable’