CPSS is expanding to include more central banks

CPSS is expanding to include more central banks

Committee on Payment and Settlement Systems (CPSS) membership has recently been widened. It happened after the central banks of Australia, Brazil, China, India, Mexico, Russia, Saudi Arabia, South Africa and South Korea admitted the Committee's suggestion to enter.

Currently, after the acceptance of new participants, CPSS is a Committee of uniting representatives from Australia, Belgium, Brazil, Canada, China, the European Central Bank, France, Germany, Hong Kong SAR, India, Italy, Japan, Mexico, the Netherlands, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Sweden, Switzerland, the UK and the USA.

These actions let the Committee strengthen its ability to contribute to financial stability through improvements to the global payments and settlement infrastructure. It will also support CPSS’ keeping oversight practices and standards in line with market developments and with increasing interdependencies among financial market infrastructures.