Citi Payments Perspectives

8 Treasury and Trade Solutions Citi Payments Perspectives Global Initiatives Payments Infrastructure Developments Regional Developments (North America) Highlights of Citi’s Response A key objective of Citi is the enablement of 24/7 payments that are instant and support our clients’ domestic and cross-border needs. To that end, we have communicated the following views to the CPMI: • Citi is very supportive of major market infrastructures and countries moving to a 24/7 model as we see this as being key to enable end-to- end 24/7 instant domestic and cross-border payments to our clients. • Regulators need to start preparing now for 24/7 RTGS as these systems come up to end-of-life or renewal. While the industry may not be able to adopt this immediately, forward-looking plans need to support the 24/7 operations. • Paths to 24/7 for market participants should take into consideration broader infrastructure transformation initiatives. A balance should be struck between movement to 24/7 and overburdening the community by allowing for optionality when participating in RTGS extended operating hours. 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