Core Principles

Core Principles

In order to foster the establishment of efficient, safe and risk-free payment systems, the Committee on Payments and Market Infrastructures (CPMI- As of 1 September 2014 the Committee on Payment and Settlement Systems-CPSS has changed its name to Committee on Payments and Market Infrastructures) within the Bank for International Settlements (BIS) has set out the core principles for payment systems and published them as a report called “Core Principles for Systemically Important Payment Systems” in 2001. Meanwhile, due to the recent global financial crisis, the CPSS (CPMI) has revised the existing standards  together with the International Organization of Securities Commission (IOSCO) and set out new standards called “Principles for Financial Market Infrastructures” for all financial market infrastructure institutions including central counterparties, securities settlement systems, central security depositories and trade repositories besides payment systems.

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