Focused monitoring of progress against the G20 Roadmap for Enhancing Cross-Border Payments helps to maintain momentum and provides accountability. The FSB closely monitors efforts to advance or complete the Roadmap’s priority actions.
This report outlines progress made by the FSB, in coordination with the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and other relevant international organisations and standard-setting bodies over the past year on the priority actions, including efforts to strengthen engagement with cross-border payments markets participants.
The report also looks at the key insights from the Key Performance Indicators (KPIs) monitoring report that was published alongside this report.
While more than half of the priority actions have been completed, the KPI report suggests that the work done so far is not yet sufficient and that further efforts are needed to meet the quantitative targets for cross-border payments. Indeed, more effort is needed to gain the benefits of the work already delivered through the priority actions and to encourage jurisdiction level implementation of the policies and recommendations emerging from them.
To fulfil the G20’s objectives, the FSB, CPMI and other partner organisations are strongly committed to achieving tangible results by completing the priority actions, encouraging implementation by both the private and public sector, and identifying ways to facilitate greater progress.