16 See Board of Governors of the Federal Reserve System (2019), “Minutes of the Federal Open Market Committee, July 31–August 1, 2018,” press release, August 1, https://www.federalreserve.gov/monetarypolicy/fomcminutes20180801.htm; and Board of Governors (2019), “Minutes of the Federal Open Market Committee, October 29–30, 2019,” press release, October 30, https://www.federalreserve.gov/monetarypolicy/fomcminutes20191030.htm.
However, work still remains to further develop an integrated, innovative and competitive market for euro retail payments. To this end, the ECB established the Euro Retail Payments Board (ERPB) at the end of 2013. In this high-level strategic body the demand and supply sides of payment services are given equal importance.