When autocomplete results are available use up and down arrows to review and enter to select.
The Bank for International Settlements issued a report to help central banks extend operating hours for real-time gross settlement systems to reduce delays in cross-border payments settlement.
Report Details: The report from BIS’s Committee on Payments and Market Infrastructures says extending and aligning RTGS operating hours could speed up cross-border payments, especially between jurisdictions with significant time zone differences. It could also improve liquidity management, reduce settlement risk, enhance performance, and facilitate cheaper and more transparent cross-border payments in line with G20 targets, the report says.
Background: Slow and inefficient cross-border payments are frequently cited as a justification for a U.S. central bank digital currency and stablecoins. So the evolution of traditional RTGS systems could play a role in the potential development of CBDCs and other digital assets.
ICBA Position: ICBA opposes the creation of a U.S. CBDC, arguing that it would disintermediate community banks and pose privacy risks without improving on superior payment alternatives, such as FedNow. ICBA in September released polling conducted by Morning Consult indicating consumers support a regulatory framework for digital assets and are skeptical of the creation of a U.S. CBDC.
Recent Congressional Statement: In a written statement for a Senate Banking Committee hearing last week on crypto oversight, ICBA laid out the risks posed by stablecoins and decentralized finance while reiterating its push for comprehensive and coordinated crypto regulations that avoid dangerous loopholes.
Previous News
The OCC issued a revised version of the “Change In Bank Control” booklet of the Comptroller’s Licensing Manual.
ImageFeb 21, 2023
ICBA called on the FDIC to deny pending deposit insurance applications from industrial loan companies, citing the outsized risks ILCs pose to the Deposit Insurance Fund, financial stability, and consumers.
ImageFeb 13, 2023
Federal Reserve Governor Christopher Waller said banks engaging with crypto customers should be “very clear” about the customers’ business models, risk-management systems, and corporate governance structures to ensure the bank is not left “holding the bag if there is a crypto meltdown.”
ImageFeb 13, 2023
Related News Taxonomy
Jun 27, 2025
Jun 25, 2025
Jun 23, 2025