Fact sheet: Committee on Payment and Settlement Systems

Functions

To monitor and analyse developments in domestic payment, settlement and clearing systems as well as in cross-border and multicurrency systems. The Committee also focuses on standard-setting activities.

Membership

Senior officials responsible for payment and settlement systems in central banks.

Institutions

Reserve Bank of Australia
National Bank of Belgium
Central Bank of Brazil
Bank of Canada
The People's Bank of China
European Central Bank
Bank of France
Deutsche Bundesbank
Hong Kong Monetary Authority
Reserve Bank of India
Bank of Italy
Bank of Japan
Bank of Korea
Bank of Mexico
Netherlands Bank
Central Bank of the Russian Federation
Saudi Arabian Monetary Agency
Monetary Authority of Singapore
South African Reserve Bank
Sveriges Riksbank
Swiss National Bank
Central Bank of the Republic of Turkey
Bank of England
Board of Governors of the Federal Reserve System
Federal Reserve Bank of New York
 

Chairman

Benoît Cœuré, Member of the Executive Board of the European Central Bank

Secretariat

Klaus M. Löber, Head of Secretariat

Frequency of meetings

The Committee meets three times a year.

Reporting arrangements

No public releases of the meeting agendas or discussions are made. Since January 2010, the Chairman of the Committee reports to the Governors of the Global Economy Meeting.

Outreach

The Committee has developed relationships with non-CPSS central banks in order to help strengthen payment systems globally. This involves a number of different activities including participation by some of the central banks in certain of the Committee's working groups, circulation to central banks worldwide of internal Committee papers on analytical and policy issues, co-organisation of seminars and workshops with regional payment system groups, and publication of reference studies on payment, clearing and settlement systems in individual countries.