On 10 October 2022, the Financial Stability Board (FSB) published the priority themes for the next phase of work under the G20 Roadmap for Enhancing Cross-Border Payments. The FSB has also published a report on the progress made during the second year of the Roadmap. The two reports are being delivered to G20 Finance Ministers and Central Bank Governors for their meeting in Washington DC on 12-13 October 2022.
The three priority themes which have been identified for the next phase of the Roadmap are:
- Payment system interoperability and extension. Work on this priority will focus on improvement of payment system interoperability, extension of RTGS operating hours and access policies.
- Legal, regulatory and supervisory frameworks. Work under this priority will focus on the promotion of an efficient legal, regulatory and supervisory environment for cross-border payments while maintaining their safety, security, and integrity.
- Cross-border data exchange and message standards. Work under this priority will focus on facilitating cross-border data exchange and increasing the use of standardised messaging formats for cross-border payments.