WASHINGTON—The U.S. Faster Payments Council (FPC) has published the second edition of the Cross-Border Payments Bulletin in its Faster Payments Knowledge Center.
“The FPC Cross-Border Payments Work Group, sponsored by Wells Fargo, developed this latest industry bulletin to further explore the effect of Central Bank Digital Currencies (CBDCs) on cross-border faster payments,” Finextra explained.
The FPC Cross-Border Payments Work Group Bulletin.02 presents a simple cross-border correspondent banking payment flow model as a guidepost, discusses basic money movement flow to provide context into how cross-border funds move, and raises unanswered questions about money and information movement in the digital world, Finextra reported.
“In order to improve cross-border payments, critical considerations and decisions are required to address the access methodology and how CBDCs will connect and interoperate across jurisdictions, but much depends on implementation choices made by various central banks and associated authorities,” said Barry Tooker, principal at TransactionBanker.com and FPC Cross-Border Payments Work Group Chair. “In this the second in our series of bulletins, we propose a working model for an end-to-end cross-border payment leveraging one that has been published by the Bank for International Settlements and examines both the monetary and data flows.”
Just in Time for the New Year, CUToday’s Free Morning Headline Email is Now Double-Free!
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com