Payment versus Payment (PvP) – Brazil and Colombia Cross-border settlements

Resumo

Increasing the efficiency of the global financial system is of utmost
importance to meet current and future requests for financial services in
an increasingly connected world. The importance of the topic is such, that
the G20, a group of finance ministers and heads of Central Banks from
the 19 largest economies in the world and the European Union, defined
the evolution of cross-border payment systems as a priority (FSB (2020)).
The project that will be presented below complements the ongoing
work of G20 on cross-border payments. Specifically, it contributes to
the building blocks in the adoption of Payment versus Payment (PvP),
multilateral and CBDC platforms, extending the access to Central Bank
money security for cross-border settlements. (BIS, BdF and. SNB (2021)).