G20: Published Stage 1 report of Enhancing Cross-border Payments project

On 9 April 2020, the Financial Stability Board published the stage 1 report of its Enhancing Cross-border Payments project. In particular, the report provides an assessment of existing arrangements and challenges for global cross-border payments. The report includes preliminary thoughts on topics to consider when developing the roadmap, falling under four categories: operational improvement of payment infrastructures; standardisation of data and market practice; legal, regulatory and oversight framework; and progress monitoring and information sharing.