Close cooperation is carried out with international organizations that perform studies on areas directly or indirectly linked to the Financial Market Infrastructures, like the Committee on Payments and Market Infrastructures (CPMI- As of 1 September 2014 the Committee on Payment and Settlement Systems-CPSS has changed its name to Committee on Payments and Market Infrastructures), World Bank, International Monetary Fund (IMF) and SWIFT Oversight Forum. Furthermore, various training and technical cooperation activities regarding payment systems area are being carried out with other countries’ central banks.
Relation with CPMI (CPSS)
CPMI (CPSS) is one of the committees within the Bank for International Settlements (BIS) and serves as a forum for central banks to follow the developments in both domestic and cross-border payment and settlement systems. Moreover, the CPMI (CPSS) cooperates with countries to prepare Redbook reports comprising assessments of the payment systems infrastructure in order to develop the payment systems infrastructure globally.
The CBRT became a member of the Committee on November 13, 2009. Three descriptive Redbooks, two of which were before the membership, has been prepared in cooperation with CPSS(CPMI) regarding the payment and securities settlement systems in Turkey in 2002, 2007 and 2012. Since the initiation of membership, Statistical Redbook reports are prepared every year regarding the last five years. Moreover, the CBRT is actively involved in several working groups of the CPMI (CPSS) and contributes to preparation of reports published by CPMI (CPSS).
Payment Systems Workshop
Further to these works, the Central Bank and the CPMI (CPSS) jointly hold Regional Payment Systems Workshops. The workshop aims to provide a platform for the central banks of the region to exchange views on the payment system reform process in their individual countries, on the role of the respective central banks in managing change in payment systems and on how developments in the region link with broader global trends.
The workshop has been organized annually since 2001 and delegates from about 20 central banks attend the workshop every year. The region of participating countries covers the Balkans, East Europe, North Africa, Middle East, and Central Asia.
Training and Technical Cooperation Activities
Various training programs are provided and technical cooperation activities are carried out by the CBRT regarding the payment systems area via both Istanbul School of Central Banking and bilateral links with other countries’ central banks
Date: 13 March 2017
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
