Committee on Payments and Market Infrastructures (CPMI)
The weaponisation of payments
Central banks must integrate geopolitical resilience into their payment oversight, argues Biagio Bossone
Can central banks cut remittance fees to sustainable levels?
More action is needed to reach the UN’s 3% global average cost target. But central banks face limits on what they can do
CPMI outlines backing for payments data harmonisation
BIS committee aims for greater harmonisation of ISO 20022 to support cross-border payments
Bank of England to review UK clearing rules
Broader collateral set and greater margin transparency could be adopted from Emir 3.0, but not active accounts requirement
Central banks must navigate impact of tokenisation – BIS
Paper weighs in on how policy-makers should react to innovations in financial market infrastructure
Cecilia Skingsley on monetary policy tech and a unified ledger
Head of the BIS Innovation Hub speaks about tokenisation, CBDCs and the ‘black box problem’ in AI
Central banks, FMIs and the ‘green’ agenda
Collective efforts are needed to transform the environmental footprint of payment networks, writes Biagio Bossone
People: October to December 2023
A round-up of central bankers in the news and on the move during the past three months
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
‘Digital pound’ needed as cash successor, says BoE’s Cunliffe
Departing deputy governor says CBDC could be necessary by decade’s end
CPMI seeks better governance of fast payment links
Committee embarking on project to build supporting framework for FPS links
Fabio Panetta to chair CPMI
Eddie Yue to lead emerging market committee, as Perry Warjiyo stays on as Asia committee chair
CPMI-Iosco report surveys CCP tools for ‘non-default losses’
Losses from investment risk or cyber attacks could threaten a CCP’s survival, report says
Cash demand solid despite digitalisation, CPMI finds
Latest ‘red book’ statistics show rapid growth in cashless payments, but demand for cash still resilient
CPMI and Iosco raise ‘serious’ concern over cyber security flaw
Global bodies say several FMIs have vulnerabilities in their cyber security
RTGS operating hours must expand, BoE’s Cunliffe says
Longer hours and more non-bank access would speed up cross-border payments, says CPMI chair
CPMI creates framework for linking payments
Linking and use of APIs could cut need for long chains of correspondent banks, report says
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
CPMI proposes ‘global settlement window’
BIS committee says window could work as focal point for aligning payment systems worldwide
CPMI and Iosco say systemic stablecoins must meet FMI principles
Stablecoins perform similar functions to other financial market infrastructures, say bodies
CPMI aims to ‘shape the future of payments’
Committee publishes work programme for first time, focusing on innovation and risks in FMIs