The central banks of Australia, Brazil, China, India, Mexico, Russia, Saudi Arabia, South Africa and South Korea have joined the Committee on Payment and Settlement Systems (CPSS).
With its newest members, the CPSS now consists of 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 US.
The expansion will enhance the committee’s ability to contribute to financial stability through improvements to the global payments and settlement infrastructure, as well as help it keep oversight practices and standards in line with market developments and with increasing interdependencies among financial market infrastructures.
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