CPMI to set up task force for cross-border payments

The Committee on Payments and Market Infrastructures (CPMI) has invited managers of service level agreements (SLAs) and payment schemes who are interested in enhancing cross-border payments to nominate senior representatives to a new task force.

The task force will also include CPMI representatives working on implementing building block 3 of the G20 cross-border payments programme, which aims to create a template to define common features of cross-border payment service levels.

The task force, which will start in early 2022, will meet every six to eight weeks.

Its findings will feed into the development of a service level template that stakeholders can use as a starting point when establishing agreements. It will not suggest any specific service levels but will reflect how the elements relevant for cross-border payments can be addressed consistently.

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