Finance Breaking news FSB publishes roadmap for improving cross-border payments last financial news

Breaking-Finance.Com - The Financial Stability Board (FSB) has published its roadmap for boosting cross-border payments, which have traditionally been slow, expensive and unreliable.

Finance Breaking news FSB publishes roadmap for improving cross-border payments last financial news

Breaking-Finance.Com - The Financial Stability Board (FSB) has published its roadmap for boosting cross-border payments, which have traditionally been slow, expensive and unreliable.

Finance Breaking news FSB publishes roadmap for improving cross-border payments last financial news
13 October 2020 - 16:15

Breaking-Finance.Com - The Financial Stability Board (FSB) has published its roadmap for boosting cross-border payments, which have traditionally been slow, expensive and unreliable. The FSB has put together the roadmap in response to Saudi Arabia making the improvement of cross-border payments a priority of its G20 presidency. In its report, the FSB says cross-border payments have several challenges, including high costs, low speed, limited access and insufficient transparency.

. Building on an earlier report from BIS's Committee on Payments and Market Infrastructures, the roadmap sets out actions and indicative timelines in five focus areas: Committing to a joint public and private sector vision to enhance cross-border payments Coordinating on regulatory, supervisory and oversight frameworks Improving existing payment infrastructures and arrangements to support the requirements of the cross-border payments market Increasing data quality and straight-through processing by enhancing data and market practices Exploring the potential role of new payment infrastructures and arrangements Jon Cunliffe, Deputy Governor of the Bank of England, co-chair of the FSB Cross-border Payments Coordination Group, says: "The roadmap will transform cross-border payments to make them faster, cheaper, more transparent and inclusive." Read the report:Download the document now 856.9 kb (PDF File)

Source = Breaking-Finance.Com

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Finance Breaking news FSB publishes roadmap for improving cross-border payments last financial news


Finance Breaking news FSB publishes roadmap for improving cross-border payments last financial news


Finance Breaking news FSB publishes roadmap for improving cross-border payments last financial news


Finance Breaking news FSB publishes roadmap for improving cross-border payments last financial news

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