People's bank formally joins the committee of international payment and settlement system

People's Bank of China formally joined the Committee on international Payment and settlement system (CPSS) in July 2009, the PBC formally joined the Committee on international Payment and settlement system (Committeeon Payment and settlement Systems,cpss),　　Become one of its 23 full members. CPSS is an international professional organization launched by the Central Bank of the group of Ten, which is based in the Bank for International Settlements (BIS) and organizes 3 meetings a year. CPSS has been working on the development and reform of the payment and settlement system to promote the establishment of a robust and efficient payment and settlement system to strengthen the global financial market infrastructure.　　CPSS provides the central bank with a platform for the exchange of the central banks to conduct joint research and discussion on their domestic payments, clearing and settlement systems and the development of Cross-border multiple currency settlement mechanisms. CPSs according to the request of the President of the Central Bank of the group of ten countries, or depending on the development needs of the payment settlement system, take the initiative to undertake specific research tasks. CPSS has published the key payment system core principles, the securities Settlement system proposal, the central opponents proposal, the central bank of the payment and settlement system supervision, the National Payment system Development Guide and other programmatic documents, by many countries central banks and regulatory authorities of the high priority,　　As the main reference of the payment and settlement system and securities Exchange and settlement system, it has greatly promoted the development of payment and settlement system of the group of 10 and many countries and regions in the world. CPSS publishes professional research reports on a large fund transfer system, securities settlement system, foreign exchange settlement arrangement, derivative product liquidation arrangements and retail payment tools.　　In addition, CPSs regularly edited and published "Redbook", informative disclosure of its membership payment system related information. After the financial crisis, CPSS's role was further highlighted.　　At present, CPSs is focusing on the introduction of the central adversary mechanism and the establishment of centralized clearing, data preservation, processing and monitoring mechanism in the OTC market, especially the derivative financial instruments trading market, which will have an important impact on the future of the international payment and settlement system. In July 2009, CPSs absorbed some new members, including the People's Bank of China, to expand its membership to 23 countries and regions, including Australia, Belgium, Brazil, Canada, China, EU, France, Germany, Hong Kong Special Administrative Region, India, Italy, Japan, Korea, Mexico, Netherlands, Russia,　　Saudi Arabia, Singapore, South Africa, Sweden, Switzerland, Britain and the United States (Fed and NYSE). The People's Bank of China has maintained good cooperation and communication relationship with CPSS for a long time. By participating in the CPSS Professional Working Group, participated in the formulation of the "Securities Settlement system proposal", "securities settlement system Proposed evaluation method", "Central opponents" and "payment system development general principles" and other important international standards, a more systematic understanding of the developed countries pay and settlement system from the focus on business processing efficiency to benefitIt carries on the business innovation with the information technology, from pays attention to the system the risk control to realizes the payment system public policy goal transformation process. After joining the CPSS, the People's Bank of China will devote itself to promoting the system innovation of China's payment and settlement system, guaranteeing the safe and stable operation of the payment and settlement system, taking more reasonable measures to influence the market arrangement, perfecting the related design of the payment system and the securities settlement system, and promoting the marketization process So that payment and settlement system can conform to the internal needs of the healthy development of economic and financial. On the other hand, we should strengthen cooperation with CPSS members, perfect the risk supervision and management mechanism of international payment system, strengthen the unity and rule basis of the international payment settlement system, and promote the healthy development of our country and international payment and settlement system. Finish)