Photo of Simon Lovegrove (UK)

On 23 May 2024, the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) published its work programme and strategic priorities for 2024-2025.

The programme’s key themes are:

  • Risk management of financial market infrastructures (FMIs).
  • Enhancement of cross border payments.
  • Digital innovation in payments.
  • Clearing and settlement.

The CPMI

On 23 May 2024, the Council of the EU published the text of a draft Directive amending Directive (EU) 2019/1153, as regards access by competent authorities to centralised bank account registries through the interconnection system and technical measures to facilitate the use of transaction records.

The proposed amendment to Directive (EU) 2019/1153 would allow designated

On 22 May 2024, the Financial Stability Board (FSB) published a report on Enhancing the Functioning and Resilience of Commercial Paper and Negotiable Certificates of Deposit Markets. The report forms part of the FSB’s work programme on enhancing the resilience of non-bank financial intermediation and follows up on the 2021 FSB report with policy

On 22 May 2024, the European Commission (Commission) announced it is launching a consultation on macroprudential policies for Non-Bank Financial Intermediation (NFBI).

NBFI comprises very diverse financial sectors including regulated entities and unregulated entities. In the third quarter of 2023, non-bank financial intermediaries accounted for roughly EUR42.9 trillion (41% of EU

On 22 May 2024, the European Securities and Markets Authority (ESMA) published a Position Paper on ‘Building more effective and attractive capital markets in the EU’. The Position Paper includes 20 recommendations to strengthen EU capital markets and address the needs of European citizens and businesses.

ESMA’s recommendations for a well-functioning capital market

On 21 May 2024, the Payment Systems Regulator (PSR) published an interim report and consultation paper relating to its market review of card scheme and processing fees. The report sets out the PSR’s provisional findings on its market review of the scheme and processing fees associated with Mastercard and Visa, the two largest