Reforming cross-border payments – speech by Andrew Bailey
Why this matters
This speech by the Bank of England Governor discusses the importance of reforming cross-border payments to make them faster, cheaper, more transparent and inclusive. It outlines key focus areas including developing jurisdiction and regional action plans, further innovation and infrastructure development, reducing regulatory compliance costs, and strong private sector commitment. This is a critical issue for the banking and payments sectors, with implications for operational resilience, technology, and consumer protection.
AI-generated classification rationale, not a full analysis. Verify with the original BoE source before acting. Full disclaimer.
What the BoE said
Given at the FSB Payments Summit
Published by BoE . Read the full notice at the source for the authoritative text.
Context
Bank of England (BoE) — UK central bank overseeing monetary policy and financial stability. We track 247 updates from them.
Financial services regulation in the UK, primarily overseen by the FCA and PRA. Browse all United Kingdom updates.
This update is classified under Operational Resilience / Outsourcing, Technology & Cyber, Consumer Protection / Conduct and Banking & Credit.