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Guiding payments reforms

Guiding payments reforms

Source: Bank for International Settlements

The BIS-sponsored Committee on Payment and Settlement Systems (CPSS) offers general guidance for national payment system development in a report which aims to give assistance and advice on the planning and implementation of payment system reforms.

This report includes 14 guidelines and accompanying explanatory text on payment system development. It also includes sections on implementation, which illustrate the guidelines with practical examples, issues and possible approaches to implementation.

A consultation version of this report was published in May 2005 and was discussed in regional consultations with payment experts from central banks and the financial community around the world.

The report was initiated by the CPSS under the leadership of its former chairman, Tommaso Padoa-Schioppa. It was produced for the CPSS by a working group chaired by Sean O’Connor of the Bank of Canada.

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