FSB Chair Calls for Global Payment System Upgrades
Andrew Bailey warned that slow payment reforms could fragment the global financial system. He noted that 2027 targets for cost and speed may be missed.
Xurve View
Xurve View
Andrew Bailey, the chair of the Financial Stability Board (FSB), has issued a call for international governments to accelerate reforms to both domestic and international payment systems. Speaking at an FSB payments summit, Bailey emphasized that failing to address current inefficiencies risks creating a fragmented global financial environment.
