Once fully adopted by the countries on the Basel Committee, the standard is likely to have broad application worldwide and to replace the current accord, particularly for internationally active banks. Every bank here should expect to be affected. 8  BIS Review ? ?/2001  Conclusion The proposal may be complex and at times confusing, but I believe we are on the right track.
The aim is to ensure easy accessibility and interoperability of the payment infrastructure, while ensuring safety and security of transactions. We encourage a variety of payment channels not only because they cater to diverse needs but also because they add resilience in case some channel breaks down. Banks have been the traditional gateway to payment services.