Nepal Rastra Bank rolls out framework to identify systemically important payment systems
Summary
Nepal Rastra Bank has introduced a framework to identify systemically important payment systems to enhance regulatory oversight, improve resilience, and align with international standards for financial stability and innovation.
Key Points
- Nepal Rastra Bank has launched a framework to identify and regulate systemically important payment systems (SIPS) in Nepal.
- The framework aims to enhance resilience against disruptions and promote innovation and financial inclusion in the payment ecosystem.
- Criteria for SIPS include handling large-value or time-critical transactions, market share, and transaction volumes in retail payments.
- The framework aligns with international standards such as the Principles for Financial Market Infrastructures (PFMIs) to ensure safety and efficiency.
