Global Economy Meeting and ISO 20022: Difference between pages

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imported>Doug Williamson
(Updated entry: Changed CPSS reference to past using formerly to remove date sensitivity, removed repetition 2nd para 2nd sentence, added internal links)
 
imported>Doug Williamson
(Add quote - source - ACT - https://www.treasurers.org/hub/blog/introduction-iso20022)
 
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The Global Economy Meeting (GEM) is the principal discussion forum of central bank Governors during the regular [[Bank for International Settlements]] (BIS) bimonthly meetings.
ISO 20022 is the international standard for financial messages, issued by the the International Organization for Standardization (ISO).  


The committee monitors and assesses developments in the world economy and the global financial system. It provides a forum for discussion and cooperation. It guides and receives reports from the Basel-based central bank committees: the [[Committee on the Global Financial System]] (CGFS), [[Committee on Payments and Market Infrastructures]] (CPMI) (formerly called the Committee on Payment and Settlement Systems (CPSS)) and the [[Markets Committee]].


The GEM comprises the Governors of 30 BIS member central banks in major advanced and emerging market economies that account for about four fifths of global GDP and meetings are observed by Governors from several other central banks.
:<span style="color:#4B0082">'''''The introduction of ISO 20022'''''</span>
 
:"The new standard will significantly increase the amount of data that will be able to accompany the payment instruction.
 
:One of the main benefits will be an increase in the ability to automate the allocation of receipts to customer accounts – reducing the time consuming, expensive and error-prone need for manual intervention.
 
:In addition, it will allow more information regarding ultimate beneficiaries which will support any requirements for enhanced anti-money laundering protocols."
 
:''Association of Corporate Treasurers - blog - April 2022.''




==See also==
==See also==
* [[Central bank]]
* [[ISO]]
* [[Gross domestic product]]
* [[ISO currency codes]]
* [[MT]]
* [[MX]]
* [[Society for Worldwide Interbank Financial Telecommunications]] (SWIFT)
 
 
==External link==
*[https://www.iso20022.org/ ISO 20022 website]
 
[[Category:Cash_management]]
[[Category:Financial_products_and_markets]]
[[Category:Liquidity_management]]
[[Category:Technology]]

Revision as of 08:50, 27 April 2022

ISO 20022 is the international standard for financial messages, issued by the the International Organization for Standardization (ISO).


The introduction of ISO 20022
"The new standard will significantly increase the amount of data that will be able to accompany the payment instruction.
One of the main benefits will be an increase in the ability to automate the allocation of receipts to customer accounts – reducing the time consuming, expensive and error-prone need for manual intervention.
In addition, it will allow more information regarding ultimate beneficiaries which will support any requirements for enhanced anti-money laundering protocols."
Association of Corporate Treasurers - blog - April 2022.


See also


External link

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