Glossary

Updated 17 October 2016

The Committee on Payments and Market Infrastructures (CPMI) provides this glossary of payments and market infrastructure terminology as a reference to the standard terms and definitions used in connection with payment, clearing, settlement and related arrangements. Current definitions are now shown alongside the previous ones. You can generate a PDF version of the glossary here.

oversight

A central bank function whereby the objectives of safety and efficiency are promoted by monitoring existing and planned payment, clearing, settlement and related arrangements, assessing them against these objectives and, where necessary, inducing change. These arrangements include financial market infrastructures and other payment, clearing, settlement and reporting arrangements and activities, both within and across jurisdictions (encompassing systems and activities involving large-value and retail payments, foreign exchange settlement, securities and derivatives clearing and settlement, multilateral netting and collateral management) as well as retail payment instruments or schemes. The scope of oversight differs between central banks but usually includes FMIs, with oversight being conducted domestically and through cross-border cooperation.

Updated: 16 Jun 2015

Source documents

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oversight

A central bank function whereby the objectives of safety and efficiency are promoted by monitoring existing and planned payment, clearing, settlement and related arrangements, assessing them against these objectives and, where necessary, inducing change. These arrangements include financial market infrastructures and other payment, clearing, settlement and reporting arrangements and activities, both within and across jurisdictions (encompassing systems and activities involving large-value and retail payments, foreign exchange settlement, securities and derivatives clearing and settlement, multilateral netting and collateral management) as well as retail payment instruments or schemes. The scope of oversight differs between central banks but usually includes FMIs, with oversight being conducted domestically and through cross-border cooperation.

Updated: 16 Jun 2015

Source documents

 Additional terms that are not included in the main glossary can be found in the previous version of the glossary.