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Exploring Multilateral Platforms For Cross Border Payments
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Book Synopsis Exploring Multilateral Platforms for Cross-Border Payments by : Bank of International
Download or read book Exploring Multilateral Platforms for Cross-Border Payments written by Bank of International and published by International Monetary Fund. This book was released on 2023-01-18 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides an assessment of whether and how multilateral platforms could bring meaningful improvements to the cross-border payments ecosystem. It was written by the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) in collaboration with the BIS Innovation Hub, the International Monetary Fund (IMF) and the World Bank.1 The report analyses the potential costs and benefits of these platforms and how they might alleviate some of the cross-border payment frictions. It also evaluates the risks, barriers and challenges to establishing multilateral platforms and explores two paths for their evolution. The analysis is based on a stocktake, conducted by the CPMI, of existing and potential multilateral platforms as well as bilateral discussions with existing platform operators.
Book Synopsis Exploring Multilateral Platforms for Cross-border Payments by :
Download or read book Exploring Multilateral Platforms for Cross-border Payments written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cross-Border Payments Integration in Latin America and the Caribbean by : Dimitris Drakopoulos
Download or read book Cross-Border Payments Integration in Latin America and the Caribbean written by Dimitris Drakopoulos and published by International Monetary Fund. This book was released on 2024-06-14 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cross-border payment inefficiencies are a significant barrier to trade both within Latin America and the Caribbean (LAC) and between LAC and other regions. This paper provides a comprehensive review of historical efforts undertaken by various countries within the LAC region to address these challenges. We also explore the potential of recent financial innovations, such as digital currencies and blockchain technology, to enhance cross-border payments. While new technologies do not substitute for prudent and credible macroeconomic policies, leveraging these technologies can help LAC countries reduce transaction costs and times, thus enhancing economic efficiency and fostering deeper regional and global trade relationships.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 : Total Pages :45 pages Book Rating :4.4/5 (2 download)
Book Synopsis IMF and World Bank Approach to Cross-Border Payments Technical Assistance by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book IMF and World Bank Approach to Cross-Border Payments Technical Assistance written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2023-12-22 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The G20 had made enhancing cross-border payments a priority. Faster, cheaper, more transparent and more inclusive cross-border payment services have the potential to be transformative for citizens and economies across the world. The Roadmap for Enhancing Cross-Border Payments, launched in 2020, is the first attempt by the international community to address the challenges faced by cross-border payments in a holistic way. A key foundational element in the Roadmap was the publication by the FSB of 11 quantitative targets to define the Roadmap’s aims and create accountability. Technical Assistance (TA) plays a critical role in helping achieve the Roadmap targets. TA relates closely to, and builds on, the IMF’s and World Bank’s respective missions. This paper outlines a multi-year strategy to provide TA in order to meet the cross-border payments targets. The paper (1) details the important role TA plays in achieving the Roadmap targets; (2) summarizes stocktakes conducted by the IMF and World Bank of recent and ongoing TA supporting cross-border payments; and (3) explains the IMF’s and World Bank’s approaches to cross-border payments TA. The IMF and World Bank commit to collaborating, coordinating, and complementing each other on cross-border payments TA wherever possible and appropriate at country/project level.
Book Synopsis Distributed Ledger Technology Experiments in Payments and Settlements by : Mr.Ghiath Shabsigh
Download or read book Distributed Ledger Technology Experiments in Payments and Settlements written by Mr.Ghiath Shabsigh and published by International Monetary Fund. This book was released on 2020-06-24 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major transformations in payment and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took several days domestically and weeks internationally. The second generation involved computerization with batch processing. Links between payment systems were made through manual or file-based interfaces. The change-over period between technologies was long and still some paper-based instruments like checks and cash remain in use. The third generation, which has been emerging, involves electronic and mobile payment schemes that enable integrated, immediate, and end-to-end payment and settlement transfers. For example, real-time gross settlement systems have been available in almost all countries. DLT has been viewed as a potential platform for the next generation of payment systems, enhancing the integration and the reconciliation of settlement accounts and their ledgers. So far, experiments with DLT experimentations point to the potential for financial infrastructures to move towards real-time settlement, flatter structures, continuous operations, and global reach. Testing in large-value payments and securities settlement systems have partly demonstrated the technical feasibility of DLT for this new environment. The projects examined analyzed issues associated with operational capacity, resiliency, liquidity savings, settlement finality, and privacy. DLT-based solutions can also facilitate delivery versus payment of securities, payment versus payment of foreign exchange transactions, and efficient cross-border payments.
Book Synopsis The Rise of Public and Private Digital Money by : International Monetary Fund
Download or read book The Rise of Public and Private Digital Money written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-07-29 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision.
Book Synopsis Cross-Border Bank Resolution - Recent Developments by : International Monetary Fund
Download or read book Cross-Border Bank Resolution - Recent Developments written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-02-06 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing an effective framework for cross-border resolution is a key priority in international regulatory reform. Large bank failures during the global financial crisis brought home the lack of adequate tools for resolving “too-big-to-fail” institutions. In cross-border cases, misaligned incentives and lack of robust mechanisms for resolution and cross-border cooperation left some country authorities with little choice but to take unilateral actions, which contributed to the high fiscal costs of the crisis and resulted in disorderly resolution in some cases
Book Synopsis The Next Systemic Financial Crisis – Where Might it Come From? by : Andreas Dombret
Download or read book The Next Systemic Financial Crisis – Where Might it Come From? written by Andreas Dombret and published by Walter de Gruyter GmbH & Co KG. This book was released on 2024-01-29 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Where might the next systemic financial crisis come from? And how do we achieve financial stability in a poly crisis world? This book addresses macroeconomic factors, crypto assets, non-bank financial institutions and regulated financial service providers, keeping in mind that each sector can interact with the others to produce a cluster of risks with compounding effects.
Book Synopsis Central Bank Payment and Settlement Services with Respect to Cross-border and Multi-currency Transactions by : Bank for International Settlements
Download or read book Central Bank Payment and Settlement Services with Respect to Cross-border and Multi-currency Transactions written by Bank for International Settlements and published by . This book was released on 1993 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Payment System written by Tom Kokkola and published by . This book was released on 2010 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is designed to provide the reader with an insight into the main concepts involved in the handling of payments, securities and derivatives and the organisation and functioning of the market infrastructure concerned. Emphasis is placed on the general principles governing the functioning of the relevant systems and processes and the presentation of the underlying economic, business, legal, institutional, organisational and policy issues. The book is aimed at decision-makers, practitioners, lawyers and academics wishing to acquire a deeper understanding of market infrastructure issues. It should also prove useful for students with an interest in monetary and financial issues."--Introduction (Pg. 20, para 8).
Book Synopsis Border Management Modernization by : Gerard McLinden
Download or read book Border Management Modernization written by Gerard McLinden and published by World Bank Publications. This book was released on 2010-11-30 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Border clearance processes by customs and other agencies are among the most important and problematic links in the global supply chain. Delays and costs at the border undermine a country’s competitiveness, either by taxing imported inputs with deadweight inefficiencies or by adding costs and reducing the competitiveness of exports. This book provides a practical guide to assist policy makers, administrators, and border management professionals with information and advice on how to improve border management systems, procedures, and institutions.
Book Synopsis Globalisation and Deglobalisation by :
Download or read book Globalisation and Deglobalisation written by and published by . This book was released on 2018 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalisation has had a profound effect on economic outcomes, especially in emerging market economies (EMEs). In particular, it is widely acknowledged to have been a major driver of the strong income growth and reduction in poverty witnessed in EMEs in the past few decades. Despite these benefits, there has recently been a backlash against globalisation and growing support for inward looking policies in many parts of the world. Against this backdrop, this volume takes stock of the EME experience with two facets of globalisation-trade and migration. It summarises different country experiences with regard to the aggregate as well as distributional consequences. In doing so, it highlights several examples and avenues for policy action to continue to harness the benefits of globalisation while limiting the costs.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1513573926 Total Pages :157 pages Book Rating :4.5/5 (135 download)
Book Synopsis Guidance Note For Developing Government Local Currency Bond Markets by : International Monetary Fund
Download or read book Guidance Note For Developing Government Local Currency Bond Markets written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-03-12 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening Initiative, (FIRST).The aim of the project was to deliver a report that provides emerging market and developing economies with guidance and a roadmap in developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising authorities on the formulation of policies to deepen LCBMs.
Book Synopsis Fintech and Financial Services by : Mr.Dong He
Download or read book Fintech and Financial Services written by Mr.Dong He and published by International Monetary Fund. This book was released on 2017-06-19 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new wave of technological innovations, often called “fintech,” is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper sets out an economic framework for thinking through the channels by which fintech might provide solutions that respond to consumer needs for trust, security, privacy, and better services, change the competitive landscape, and affect regulation. It combines a broad discussion of trends across financial services with a focus on cross-border payments and especially the impact of distributed ledger technology. Overall, the paper finds that boundaries among different types of service providers are blurring; barriers to entry are changing; and improvements in cross-border payments are likely. It argues that regulatory authorities need to balance carefully efficiency and stability trade-offs in the face of rapid changes, and ensure that trust is maintained in an evolving financial system. It also highlights the importance of international cooperation.
Author :Statistical Office of the European Communities Publisher :International Monetary Fund ISBN 13 :1455298069 Total Pages :96 pages Book Rating :4.4/5 (552 download)
Book Synopsis International Transactions in Remittances by : Statistical Office of the European Communities
Download or read book International Transactions in Remittances written by Statistical Office of the European Communities and published by International Monetary Fund. This book was released on 2009 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The International Transactions in Remittance: Guide for Compilers and Users (RCG)" presents concepts, definitions, and classifications related to remittances. It is consistent with the new standards for measuring balance of payments transactions, as contained in the sixth edition of the "Balance of Payments and International Investment Position Manual (BPM6)." These standards are used globally to compile comprehensive and comparable data. "The RCG" identifies the main remittances compilation methods currently being used by compilers and discusses in detail the strengths and weaknesses of each method. It is the first manual providing compilation guidance for remittances and is also the first compilation guide based on concepts set out in "BPM6." Although the "RCG" is primarily aimed at remittances data compilers, it may also be useful for users who wish to understand remittances data.
Book Synopsis The Behavior of Fixed-income Funds during COVID-19 Market Turmoil by : Mr.Frank Hespeler
Download or read book The Behavior of Fixed-income Funds during COVID-19 Market Turmoil written by Mr.Frank Hespeler and published by International Monetary Fund. This book was released on 2020-12-14 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note analyzes the stress experienced (and caused) by open-end mutual funds during the March COVID-19 stress episode, with a focus on global fixed-income funds. In light of increased valuation uncertainty, funds experienced a short period of intense withdrawals while the market liquidity of their holdings deteriorated substantially. To cover redemptions, afflicted funds predominantly shed liquid assets first—for example, cash, cash equivalents, and US Treasury securities. But forced asset sales amplified price pressures in markets and contributed to liquidity falling across fixed-income markets. This drop in market liquidity, as well as the general stress in financial markets, may have led to fund investors becoming even more sensitive to challenging portfolio performance and encouraged further withdrawals. Only after central banks intervened, directly and indirectly supporting asset managers, did liquidity and redemption stress subside. Overall, the March episode validated the financial-stability concerns about liquidity vulnerabilities in the fund industry and calls for further action to address them.
Book Synopsis Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance by : El Bachir Boukherouaa
Download or read book Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
