Third, to encourage cooperation between countries in digital payment systems through implementation of the entire G20 Roadmap for Enhancing CrossBorder Payments (CBP) and development of the General Principles for Developing CBDC.
Boards of directors, or their compensation committees, should regularly review the design and functioning of the firm’s incentive compensation practices to ensure their consistency with safety and soundness. In developing these principles, we were guided by two key considerations. The first, as I noted earlier, is that problematic compensation practices were not limited to the most senior executives at financial firms.