In retail payments, increased economic activities at night and on weekends are requiring initiatives called “24/7 instant payments” that enable real-time payments to be made 24 hours a day, 365 days a year. Retail payments made at night and on weekends may cause an increase in unsettled amounts among commercial banks and other entities.
Five years on from the GFC, with most of the Basel III regime in place, we now have a considerably stronger prudential regime which we are broadly happy with. But it is also more complex and it has expanded at a rapid pace. We feel it is now opportune to take a step back and review where we have got to.