Citi Payments Perspectives

4 Treasury and Trade Solutions Citi Payments Perspectives Global Initiatives Payments Infrastructure Developments Regional Developments (North America) Global Initiatives International Industry Initiatives: Financial Stability Board (FSB) Enhancing Cross-Border Payments Roadmap The four main areas of this work were determined to be improving: cost, speed, transparency and accessibility of cross- border payments. In 2020, the G20 asked the FSB to coordinate a three-stage roadmap for improving cross-border payments. As a part of Stage one, the FSB released an assessment report 1 of existing arrangements and challenges for cross-border payments. The four main areas of this work were determined to be improving: cost, speed, transparency and accessibility of cross-border payments. Following this assessment, the Committee on Payments and Market Infrastructures (CPMI) released a report 2 outlining 19 building blocks where both the public and private sector could collectively enhance cross-border payments and support a global approach to address the identified frictions. Building on the FSB’s Stage one report and the CPMI’s Stage two report, the FSB, in coordination with CPMI, developed a roadmap 3 which provides a high-level plan, with achievable goals, to enhance cross-border payments. Published in the summer of 2021, Citi’s FSB and CPMI roadmap 4 provides a practitioner’s perspective and synthesizes the work underway. We provide our views against each of the 19 building blocks in this initiative along with examples of past and current payments industry initiatives that offer valuable lessons or guidance to shape this important work. Continued � Global Initiatives Financial Stability Board (FSB) Enhancing Cross-Border Payments Roadmap Emerging Payments and Digital Assets Payments Infrastructure Developments ISO 20022 SWIFT Transformation Instant Payments Financial Market Infrastructure (FMI) Interlinkage Initiatives Regional Developments (North America) Immediate Cross-Border Payments (IXB) TCH Request for Pay (RFP) Bill Pay Latest on Fed/CHIPS ISO Timelines Lynx — Canadian High-Value Payment System Glossary