BIS consultation on general guidance for payment system development

09 May 2005

The Committee on Payment and Settlement Systems (CPSS) published a consultative report General guidance for payment system development. The report includes 14 guidelines and accompanying explanatory text on payment system development and gives advice on the planning and implementation of reforms in the payment system as a whole. It underlines that the central bank is always a driving force in the development of the national payment system.

Reforms depend on a parallel development of the banking system, and should therefore be a cooperative effort, involving stakeholders from, for example, the banking sector and regulatory agencies. An adequate understanding of the different infrastructures and their institutional framework is needed and is indispensable for getting the priorities right.

Deadline for comments is 30 September 2005.

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