Committee on Payments and Market Infrastructures (CPMI)
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
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
Regulators need common crypto asset standards – policy-makers
“Too many” crypto assets created to avoid regulation, official tells Central Banking summit
CPMI tracks further decline in correspondent banking
Number of active correspondents down over 20% since 2011, latest data shows
Regulators must enforce stronger payment data protection – CPMI
Payment oversight needs to be updated to accommodate fintech firms and protect consumers
Powell to lead two key BIS committees
French governor leads BCBS oversight body, BoE’s Cunliffe to head CPMI, and NY Fed has key Americas role
New data reveals 20% drop in correspondent banking
CPMI data reveals ongoing decline; FSB unveils latest work to reverse trend
Beyond payments: central bank digital currency
The issuance of central bank digital currencies, such as Sweden’s proposed e-krona, could facilitate monetary policy beyond the zero lower bound