• The Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI) publishes its work programme for 2024-25.
• Key themes are: risk management of financial market infrastructures; enhancement of cross-border payments; and digital innovation in payments, clearing and settlement.
• The CPMI continues to promote the safety and efficiency of payments and financial market infrastructures as technology and industry – and the attendant public policy needs - evolve.

The Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI) has published its work programme for 2024-25, highlighting its strategic priorities for policy, standard-setting, implementation and analytical activities.

The programme's key themes are:

• Risk management of financial market infrastructures (FMIs).
  FMIs' practices for addressing non-default losses; margining practices in centrally cleared markets; foreign exchange settlement risk reduction and cyber and operational resilience.

• Enhancement of cross-border payments.
  The priorities under the G20 cross-border payments programme, with a particular emphasis on the interlinking of fast payment systems.

• Digital innovation in payments, clearing and settlement.
  Tokenisation in the context of money and payments, functionality of cross-border central bank digital currencies and central bank collaboration, and multicurrency and asset-linked stablecoin arrangements. 

The programme was developed under the direction of the Committee Chair and endorsed by the Economic Consultative Committee.