In October 2020, the FSB published the Roadmap for Enhancing Cross-border Payments, developed in coordination with the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and other relevant international organisations (IOs) and standard-setting bodies (SSBs) to address the four challenges faced by cross-border payments of high costs, low speed, limited access and insufficient transparency and the frictions in existing processes that contribute to these challenges. The Roadmap was endorsed by G20 Leaders.
The FSB, the CPMI and partner bodies subsequently identified priority themes to take the Roadmap forward. These included enhancing interaction between the laws, rules, and regulatory requirements for collecting, storing, and managing data (referred to as “data frameworks” in the Roadmap) related to cross-border payments.
This consultation report presents the outcome of the FSB’s analysis. Comments are requested on 12 policy recommendations to promote alignment and interoperability in data frameworks related to cross-border payments.
The FSB invites comments on this consultative report and welcomes replies to the questions set out below.
Responses should be submitted via this secure online form by Monday 9 September 2024.
For questions, please contact the FSB ([email protected]).
Responses will be published on the FSB’s website unless respondents expressly indicate otherwise.
