FSB issues recommendations to improve cross-border payments
Data flows and payment service providers among the key areas of concern
The Financial Stability Board (FSB) published two consultation reports proposing policy actions to improve cross-border payments on July 16.
The first report aims to promote greater alignment and interoperability of data, while the second report aims to strengthen consistency in regulating and supervising banks and non-banks that provide cross-border payment services.
Both reports are open to public consultation until September 9.
The recommendations aim to “address frictions in data flows related
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