The Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) has published the Stage 2 Report to the G20 “Enhancing cross-border payments: building blocks of a global roadmap” (following Stage 1 published by the Financial Stability Board last April). A Stage 3 Report, which will close the process and define the roadmap, will follow.
The three-stage process will be submitted as a combined report to the G20’s meeting in October 2020.
The process (3-stages Reports) has identified 19 building blocks, divided into 5 focus areas, to enhance CBP; building blocks 18 and 19 respectively deal with:
- Global Stablecoin Arrangements; and
- Central Bank Digital Currencies (CBDCs).