What this site is checked against.

Business application header (BAH) ↗ — ISO 20022 Registration Authority

Defines the head.001 Business Application Header that carries sender, receiver, message identification, and business-context data alongside ISO 20022 business messages.

Several BAH versions exist (head.001.001.01 through .03); each usage community, such as CBPR+, specifies which version applies.

ISO 20022 Catalogue of messages ↗ — ISO 20022 Registration Authority

Defines the current versions of all ISO 20022 message definitions, including the pain, pacs, and camt messages taught on this site.

Each message set is described by a Message Definition Report; earlier versions remain available in the ISO 20022 messages archive.

ISO 20022 External code sets ↗ — ISO 20022 Registration Authority

Defines the externally maintained code lists (for example category purpose, status reason, and return reason codes) referenced by ISO 20022 payment messages.

Updated quarterly (end of February, May, August, and November) in XLSX, XSD, and JSON formats; always check the latest published version for valid codes.

Customer Security Programme (CSP) and Customer Security Controls Framework ↗ — Swift

Sets the mandatory and advisory security controls and the annual self-attestation that Swift users must meet to secure their local messaging environments.

The full Customer Security Controls Framework and detailed control descriptions sit behind a swift.com login.

Swift gpi (global payments innovation) ↗ — Swift

Describes Swift gpi, the cross-border payments service layer over the Swift network, including the end-to-end tracking it defines for member banks through the UETR (unique end-to-end transaction reference) and the Tracker.

Only public summaries are used here; the full service definition and rulebook sit behind a swift.com account.

Swift products and services ↗ — Swift

Describes Swift's messaging, connectivity, global payments innovation, platform, and compliance services offered to member institutions.

Used for the public overview of product details documented behind swift.com.

Swift Standards MT (annual standards releases) ↗ — Swift

Defines the MT message standards (including MT101, MT103, MT202/202 COV, and the MT9xx statement messages) exchanged over the Swift FIN network, maintained through annual standards releases.

Full field-level specifications live in the Swift Knowledge Centre User Handbook behind a swift.com login; content here relies on public summaries. Swift ended MT-to-ISO 20022 coexistence for in-scope cross-border payment instructions (for example MT103 and MT202) in November 2025; MT statement messages are being phased out on a separate timeline.

SwiftRef reference data services ↗ — Swift

Describes the directories Swift publishes as a reference-data utility, including the BIC Directory, Bank Directory Plus, IBAN Plus, the Standing Settlement Instructions Directory, and the SEPA Routing Directory.

Used for public summaries of the SwiftRef directories and their delivery through files, a web application, and application programming interfaces.

Buna ↗ — Arab Monetary Fund / Arab Regional Payments Clearing and Settlement Organization

Describes Buna, the cross-border multi-currency payment system founded by the Arab Monetary Fund (2018, launched February 2020) and operated by the Arab Regional Payments Clearing and Settlement Organization (ARPCSO): a real-time gross settlement system for cross-border payments across regional and international currencies (including USD, EUR, SAR, EGP, JOD and AED), operating six days a week, with AML, counter-terrorism-financing and sanctions screening applied before and after settlement.

Buna settles cross-border multi-currency payments in central bank money via participants settlement accounts, with compliance screening integrated around settlement.

FAST and PayNow ↗ — Association of Banks in Singapore

Describes FAST (Fast And Secure Transfers), Singapores near-instant 24/7 SGD retail transfer service cleared by the Singapore Automated Clearing House (SACH), which prepares net settlement files settled in MEPS+; and PayNow, the proxy-addressing overlay on FAST (mobile number, NRIC/FIN, UEN or PayNow QR), launched July 2017 and available 24/7.

FAST clears in real time but settles net via MEPS+; PayNow is an addressing overlay on FAST, not a separate settlement system.

Pix, the Instant Payment System (SPI) and the Reserve Transfer System (STR) ↗ — Banco Central do Brasil

Describes Pix, the instant payment platform created and managed by the Banco Central do Brasil: 24/7 real transfers addressed by a Pix key (phone, email, tax ID or random string) resolved through the DICT directory, settled individually and one-to-one, final and irrevocable, over the Instant Payment System (SPI), an RTGS available every day; and the STR (Reserve Transfer System), Brazils wholesale RTGS for interbank reserve transfers.

Pix settles over the SPI (RTGS) in about three seconds; the STR is the wholesale reserve-transfer RTGS operated by the BCB.

SPEI (Interbank Electronic Payment System) ↗ — Banco de Mexico

Describes SPEI, the Interbank Electronic Payment System developed and operated by Banco de Mexico: a real-time gross settlement system that processes payment orders individually, typically settling within seconds; it does not extend credit or overdraw participants, and transfers lacking liquidity are queued until they can be processed. A CEP is issued as confirmation of a received payment.

SPEI settles gross in central bank money and queues payments that lack liquidity rather than overdrawing accounts.

CHAPS ↗ — Bank of England

Describes CHAPS, the UK's sterling high-value payment system, settled payment by payment in the Bank of England's RTGS infrastructure.

The Bank of England has operated CHAPS directly since November 2017; participant-facing reference documents are published separately.

BOJ-NET Funds Transfer System ↗ — Bank of Japan

Describes the BOJ-NET Funds Transfer System, the Bank of Japans real-time gross settlement system for Japanese yen (established 1988), settling payments individually and immediately across current accounts at the Bank of Japan; large-value payments of JPY 100 million or more settle on an RTGS basis.

BOJ-NET is the RTGS core for the yen; retail net positions from the Zengin System settle across BOJ accounts.

CIPS (Cross-border Interbank Payment System) ↗ — Cross-border Interbank Payment System (CIPS Co., Ltd.)

Describes CIPS, the Cross-border Interbank Payment System authorized and overseen by the Peoples Bank of China (launched 2015): a wholesale system specializing in RMB cross-border clearing and settlement between direct and indirect participants, using SWIFT and its own messaging, settling onshore through PBoC-approved arrangements, typically same-day or T+1.

CIPS clears and settles cross-border RMB; it uses SWIFT messaging alongside its own network and settles onshore under PBoC oversight.

EBA CLEARING payment systems (STEP2-T and RT1) ↗ — EBA CLEARING

Describes the pan-European payment systems operated by EBA CLEARING, including STEP2-T for SEPA batch clearing and RT1 for SCT Inst instant payments.

Participant rulebooks and full technical documentation for STEP2 and RT1 are not public; content here relies on the operator's public pages.

TARGET Services ↗ — European Central Bank

Describes the Eurosystem's TARGET Services, including the T2 RTGS system and central liquidity management used to settle euro payments in central bank money.

T2 replaced TARGET2 in March 2023. Detailed user functional specifications are published separately in the ECB's professional-use documents section.

What is TIPS? (TARGET Instant Payment Settlement) ↗ — European Central Bank

Describes TIPS, the Eurosystem service that settles instant payments in central bank money around the clock, in line with the SCT Inst scheme.

TIPS also settles instant payments in Swedish krona and Danish krone; detailed user documentation is published separately by the ECB.

2025 SEPA Credit Transfer rulebook ↗ — European Payments Council

Governs the SEPA Credit Transfer scheme: participant obligations, datasets, time cycles, and r-transaction rules for euro credit transfers.

Version 1.1 replaced version 1.0 at publication on 5 October 2025 and is stated to remain in effect up to 21 November 2027. It moves the date from which the unstructured address format is no longer permitted to 15 November 2026.

2025 SEPA Direct Debit Business-to-Business rulebook version 1.1 (EPC222-07) ↗ — European Payments Council

Rules of the SDD Business-to-Business scheme, including mandatory debtor-bank mandate checking and the absence of a refund right for authorised collections.

2025 SEPA Direct Debit Core rulebook version 1.1 (EPC016-06) ↗ — European Payments Council

Rules of the SEPA Direct Debit Core scheme: mandates, collection lifecycle, timelines, R-transactions, and refund rights.

2025 SEPA Instant Credit Transfer rulebook ↗ — European Payments Council

Governs the SCT Inst scheme: execution time targets, timeout handling, round-the-clock availability, and r-transaction rules for instant euro credit transfers.

Version 1.1 replaced version 1.0 at publication on 5 October 2025 and is stated to remain in effect up to 21 November 2027. The EPC states it is compliant with Regulation (EU) 2024/886, the Instant Payments Regulation.

Verification Of Payee scheme rulebook ↗ — European Payments Council

Governs the EPC Verification Of Payee scheme under which PSPs check a payee's name against the account identifier before a credit transfer is sent.

The first rulebook version entered into force on 5 October 2025; version 1.1 was published in March 2026 to address issues found after deployment, and the EPC has announced a version 2.0 for later in 2026.

FedNow Service ↗ — Federal Reserve Financial Services

Describes the FedNow Service, the US instant-payments infrastructure operated by the Federal Reserve: 24/7/365 real-time gross settlement of individual credit transfers in central bank money, immediate and irrevocable, with prefunding in the institution s Federal Reserve master account. Live since 20 July 2023.

FedNow settles each payment individually and finally in central bank money, unlike the batch, deferred-net ACH network.

Fedwire Funds Service ↗ — Federal Reserve Financial Services

Describes the Fedwire Funds Service, the US real-time gross settlement system for immediate, final, and irrevocable US dollar funds transfers.

The Fedwire Funds Service completed its ISO 20022 implementation on 14 July 2025.

CHATS and the Faster Payment System (FPS) ↗ — Hong Kong Monetary Authority

Describes Hong Kong CHATS (Clearing House Automated Transfer System, the RTGS operated by Hong Kong Interbank Clearing Limited under the HKMA, settling every transaction individually and gross in central bank money for HKD, USD, RMB and EUR) and the Faster Payment System (FPS, launched 17 September 2018, 24x7, addressed by mobile number or email, funds available almost immediately, settled on the HKMA book as part of HKD/RMB CHATS).

FPS is designated as part of HKD CHATS and RMB CHATS; the HKMA provides the settlement book for HKD FPS.

Interac e-Transfer ↗ — Interac Corp.

Describes Interac e-Transfer, Canadas account-to-account consumer payment service offered through participating financial institutions online banking, introduced in 2003 and addressed by an alias such as an email address or mobile number. It is a separate system from Lynx; interbank settlement between participants is handled separately from the near-instant funds availability the customer sees.

Interac e-Transfer addresses payments by email or mobile alias; the customer sees near-instant availability while interbank settlement is handled separately by the participants.

Zengin System ↗ — Japanese Banks Payment Clearing Network (Zengin-Net)

Describes the Zengin System, Japans interbank clearing system for domestic retail credit transfers (launched 1973), operated by the Japanese Banks Payment Clearing Network (Zengin-Net): payments below JPY 100 million settle on a deferred net settlement basis across accounts at the Bank of Japan, while payments of JPY 100 million or more settle RTGS in BOJ-NET (since the Next-Generation RTGS project of November 2011).

Zengin clears retail credit transfers and nets positions settled at the Bank of Japan; large-value items are diverted to RTGS in BOJ-NET.

MEPS+ (MAS Electronic Payment System) ↗ — Monetary Authority of Singapore

Describes MEPS+, the Monetary Authority of Singapores real-time gross settlement system for Singapore-dollar interbank funds and government securities: same-day instructions settle instantaneously and irrevocably provided the paying bank has sufficient funds in its RTGS account at MAS.

MEPS+ settles gross and irrevocably in central bank money at MAS.

ACH Network and Nacha Operating Rules ↗ — Nacha

Governs the US ACH Network: batch credit and debit transfers between an ODFI and an RDFI, cleared by the two ACH Operators (the Federal Reserve and The Clearing House) and settled on a deferred, netted basis. Same Day ACH runs defined intraday windows with a per-payment limit of USD 1,000,000 (effective 18 March 2022; scheduled to rise to USD 10,000,000 on 17 September 2027).

Nacha writes and enforces the Operating Rules but does not itself process ACH payments.

Immediate Payment Service (IMPS) ↗ — National Payments Corporation of India (NPCI)

Describes IMPS, the NPCI-operated instant interbank electronic funds transfer service available 24/7, addressable by account number and IFSC or by mobile number and MMID.

IMPS is the instant interbank rail that UPI is built over.

National Automated Clearing House (NACH) ↗ — National Payments Corporation of India (NPCI)

Describes NACH, the NPCI-operated bulk clearing system for recurring high-volume push and pull payments: NACH Credit (e.g. salary, dividend, subsidy disbursement) and NACH Debit (e.g. utility, loan EMI, insurance collections under a registered mandate), processed in batch cycles.

NACH is Indias bulk/recurring batch system, analogous to Bacs (UK) and ACH (US).

Unified Payments Interface (UPI) ↗ — National Payments Corporation of India (NPCI)

Describes UPI, the NPCI-operated real-time retail payment system: instant account-to-account transfers 24/7/365 addressed by a Virtual Payment Address (VPA / UPI ID) so account numbers are not shared, built over the IMPS infrastructure, regulated by the Reserve Bank of India.

NPCI is an RBI-regulated entity. UPI is built over IMPS and uses a VPA rather than raw account details.

PAPSS (Pan-African Payment and Settlement System) ↗ — Pan-African Payment and Settlement System (PAPSS) / Afreximbank

Describes PAPSS, the Pan-African Payment and Settlement System launched on 13 January 2022 by the African Union and the African Export-Import Bank (Afreximbank) to support intra-African trade under the AfCFTA: a payment instruction flows from the local bank via its central bank to PAPSS, which routes it to the beneficiarys central bank and local bank, paying the beneficiary in local currency; PAPSS nets and settles the balances among the African currencies on a daily basis.

PAPSS lets parties transact in their own African currencies; the days cross-currency balances are netted and settled among participating central banks daily.

Bacs (Direct Debit and Direct Credit) ↗ — Pay.UK

Describes Bacs, operated by Pay.UK: sterling Direct Debit (pull) and Direct Credit (push) processed on a three-working-day cycle (submission, processing, entry), with Direct Debit returns handled through the ARUDD cycle.

Bacs runs a fixed three-day cycle: day 1 submission, day 2 processing, day 3 debit and credit taken together. Direct Debit adds days 4-5 for the Automated Return of Unpaid Direct Debits (ARUDD).

Faster Payment System (FPS) ↗ — Pay.UK

Describes the UK Faster Payment System, operated by Pay.UK: near-real-time retail credit transfers in sterling, available 24/7, cleared in real time and settled on a deferred net basis across settlement accounts at the Bank of England.

Interbank settlement in FPS is deferred net at the Bank of England — the customer experience is instant, but the banks settle net at defined cycles, not payment-by-payment. Not an RTGS system.

Lynx (high-value payment system) ↗ — Payments Canada

Describes Lynx, Canadas high-value payment system operated by Payments Canada: a real-time gross settlement system in which settlement occurs immediately after the clearing of each individual payment, transferring central bank money between participants with real-time settlement finality; wire payments are fast and irrevocable, and Lynx supports the ISO 20022 messaging standard.

Lynx is Canadas RTGS wire system, overseen by the Bank of Canada, settling in central bank money with finality.

RITS, the New Payments Platform and the Fast Settlement Service ↗ — Reserve Bank of Australia

Describes Australia RITS (the Reserve Bank Information and Transfer System, Australias real-time gross settlement system) and the New Payments Platform (NPP, launched February 2018): 24/7 immediate payments addressed by email, phone number or ABN, settled individually in real time by the Fast Settlement Service (FSS) across Exchange Settlement Accounts (ESAs) at the Reserve Bank of Australia.

NPP payments settle individually and in real time via the FSS across ESAs at the RBA, unlike batch, deferred-net retail systems.

Liberalised Remittance Scheme (LRS) — FAQs ↗ — Reserve Bank of India

Describes the Liberalised Remittance Scheme: resident individuals may remit up to USD 250,000 per financial year for permitted current and capital account transactions, through an Authorized Dealer bank, on a declaration (Form A2) naming the purpose.

The annual limit is non-cumulative and does not carry forward; remittances beyond it require prior RBI approval. Tax-collection-at-source thresholds and the exact declaration format are set separately and change more often than the scheme's core limit — check the RBI page for current detail.

RTGS and NEFT ↗ — Reserve Bank of India

Describes India RTGS (real-time gross settlement, transaction-by-transaction without netting, final and irrevocable in the books of the Reserve Bank of India; minimum INR 2 lakh, no maximum; 24x7 since 14 December 2020) and NEFT (net settlement in half-hourly batches, 24x7 with 48 half-hourly settlement cycles since December 2019).

RTGS settles gross one payment at a time; NEFT settles net in half-hourly batches. Both are operated by the Reserve Bank of India.

Swiss Interbank Clearing (SIC) ↗ — Swiss National Bank / SIX Interbank Clearing

Describes the Swiss Interbank Clearing (SIC) system, Switzerlands central RTGS payment system (launched 10 June 1987), operated by SIX Interbank Clearing on behalf of the Swiss National Bank: payment orders are executed individually, irrevocably and with finality in central bank money in real time via participants RTGS or instant-payment settlement accounts, provided sufficient cover, settled on sight deposit accounts at the SNB. Instant payments have been available to bank customers since 2024.

SIC settles gross and final in central bank money on SNB sight deposit accounts, and also processes retail payments.

CHIPS ↗ — The Clearing House

Describes CHIPS, the private-sector US dollar high-value clearing and settlement system operated by The Clearing House.

CHIPS migrated to ISO 20022 messaging in April 2024; participant rules are not fully public.

RTP (Real-Time Payments) Network ↗ — The Clearing House

Describes the RTP network operated by The Clearing House since 2017: 24/7/365 instant, push-only credit transfers that are final and irrevocable, settled in a prefunded joint account at the Federal Reserve Bank of New York, with funds made available to the recipient immediately.

RTP is push-only and prefunded; settlement is final and irrevocable, and payments cannot be recalled once submitted.

Clarification paper on SEPA Credit Transfer and SEPA Instant Credit Transfer rulebooks ↗ — European Payments Council

Gives non-binding guidance to scheme participants on situations the SCT and SCT Inst rulebooks do not describe, including recalls, reason codes, and requests for status updates.

Version 4.0 applies to the 2025 SCT and SCT Inst rulebooks and replaces version 3.1 of EPC131-17.

SEPA Credit Transfer Inter-PSP Implementation Guidelines ↗ — European Payments Council

Specifies how the ISO 20022 inter-PSP messages (pacs and camt) are used to implement the 2025 SCT rulebook between scheme participants.

Based on version 1.1 of the 2025 SCT rulebook. Companion Customer-to-PSP guidelines cover the pain.001 initiation leg.

High Value Payments Systems Plus (HVPS+) usage guidelines ↗ — HVPS+ task force (published by Swift)

Provides the common ISO 20022 usage-guideline base that high-value payment systems such as T2, CHAPS, Fedwire, and CHIPS adapt for their own specifications, supporting interoperability with CBPR+.

Full guidelines are published on MyStandards; content here relies on public summaries.

ISO 20022 Standards (Swift ISO 20022 adoption programme) ↗ — Swift

Describes the Swift community's adoption of ISO 20022 for cross-border payments and reporting, including the CBPR+ migration and the end of MT-MX coexistence.

Programme milestones change over time; the coexistence period for in-scope cross-border payment instructions ended in November 2025. Check swift.com for the current timeline.

Cross-Border Payments and Reporting Plus (CBPR+) usage guidelines ↗ — Swift (CBPR+ working group)

Defines how ISO 20022 messages (including pacs.008, pacs.009, pacs.002, pacs.004, and camt investigation messages) are used and validated for cross-border payments on the Swift network.

Full guidelines require MyStandards access; content here relies on public summaries. MT-to-CBPR+ translation rules are published on Swift's translation portal.

EU Best Practices for the effective implementation of restrictive measures ↗ — Council of the European Union

Non-binding Council recommendations on implementing EU sanctions, including the EU approach to ownership and control of designated persons.

Subject to permanent review by the Council; only the Court of Justice of the EU can authoritatively interpret EU law.

PSD2 and the RTS on strong customer authentication and secure communication ↗ — European Banking Authority

Governs open banking access in the European Union, including payment initiation and account information services offered by third-party providers, and the requirement for strong customer authentication.

Referenced from the European Banking Authority's public summaries, guidelines, and technical standards on payment services.

Consolidated list of persons, groups and entities subject to EU financial sanctions ↗ — European Commission

The EU's consolidated list of parties subject to asset freezes under EU restrictive measures, maintained by the European Commission.

Covers only financial sanctions consisting of asset freezes; the EU Sanctions Map (sanctionsmap.eu) documents the broader restrictive-measure regimes.

Launching the FATF's Roadmap 26-28 on Combatting Fraud ↗ — Financial Action Task Force

FATF's 2026-2028 strategic roadmap for tackling fraud, set as a priority of the incoming UK Presidency; relevant background for why payment and screening controls increasingly treat fraud typologies alongside money-laundering and sanctions risk.

Launched 1 July 2026, the first day of the UK's two-year FATF Presidency. The roadmap itself is a plan of work (data-gathering through October 2026, recommendations by February 2027), not yet a new binding requirement.

The FATF Recommendations: International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation ↗ — Financial Action Task Force

The global standards countries implement against money laundering, terrorist financing, and proliferation financing, including targeted financial sanctions and payment transparency under Recommendation 16.

Adopted in 2012 and updated regularly since; the June 2025 FATF plenary agreed revisions to Recommendation 16 on payment transparency. Consult the live consolidated text for the current wording.

Common Reporting Standard (CRS) ↗ — OECD

The OECD Common Reporting Standard for the automatic exchange of financial account information between jurisdictions (adopted 2014).

CRS obliges financial institutions to identify and report accounts of tax residents of participating jurisdictions.

UK financial sanctions general guidance ↗ — Office of Financial Sanctions Implementation, HM Treasury

OFSI's general guidance on UK financial sanctions obligations, licensing, exceptions, reporting, and compliance.

General in nature; regime-specific guidance and the underlying UK regulations take precedence over it.

Foreign Account Tax Compliance Act (FATCA) ↗ — U.S. Internal Revenue Service / Department of the Treasury

FATCA (enacted 2010) requires foreign financial institutions to report to the IRS accounts held by U.S. taxpayers.

FATCA targets non-compliance by U.S. taxpayers using foreign accounts.

The UK Sanctions List ↗ — UK Government (FCDO and HM Treasury / OFSI)

The single authoritative source for UK sanctions designations, including the asset-freeze targets that UK financial sanctions screening must cover.

From 28 January 2026 the UK Sanctions List replaced OFSI's separate Consolidated List of Financial Sanctions Targets, which is no longer updated; OFSI provides a search tool over current designations.

United Nations Security Council Consolidated List ↗ — United Nations Security Council

The consolidated list of individuals and entities subject to UN Security Council sanctions measures, which member states are obliged to implement.

Published in XML, HTML, and PDF formats and updated as committees act; each name is subject to the measures of its specific sanctions committee, not one uniform regime.

OFAC Frequently Asked Questions ↗ — US Department of the Treasury, Office of Foreign Assets Control

OFAC's official interpretive guidance on US sanctions programs, list maintenance, blocking, and compliance expectations.

FAQs are added, amended, and renumbered over time; always check the live page for current numbering and text.

Revised guidance on entities owned by persons whose property and interests in property are blocked (the 50 Percent Rule) ↗ — US Department of the Treasury, Office of Foreign Assets Control

Explains that entities owned 50 percent or more in the aggregate by one or more blocked persons are themselves blocked, even when not listed by name.

The rule speaks to ownership, not control; OFAC FAQs 398-402 elaborate on aggregation and indirect ownership.

Specially Designated Nationals and Blocked Persons List (SDN List) ↗ — US Department of the Treasury, Office of Foreign Assets Control

The US list of designated individuals and entities whose assets are blocked and with whom US persons are generally prohibited from dealing.

Updated continuously; machine-readable formats are distributed via OFAC's Sanctions List Service. Every list entry appearing in this site's examples is fictional.

Payments Market Practice Group market practice documents ↗ — Payments Market Practice Group

Global market practice for payment messaging, including guidance on structured party data, cover payments, and the coexistence of MT and ISO 20022 formats.

The PMPG publishes individual papers via the Swift website; its recommendations are market practice, not binding scheme rules, and adoption varies between institutions.

Wolfsberg Group Payment Transparency Standards ↗ — The Wolfsberg Group

Industry standards on preserving complete and accurate party information through payment chains, expressed in ISO 20022 terminology.

The 2023 standards replace the 2017 version and are supplemented by separate Wolfsberg guidance on roles and responsibilities in payment chains.

Wolfsberg Group Sanctions Screening Guidance ↗ — The Wolfsberg Group

Industry guidance on the elements of an effective sanctions screening programme: the risk-based approach, list management, matching technology, alert generation, and alert handling.

Wolfsberg guidance is industry market practice, not law; institutions vary in how they apply it.

Principles for financial market infrastructures ↗ — CPMI and IOSCO (Bank for International Settlements)

International risk-management standards for systemically important payment systems and other financial market infrastructures.

Published by the CPSS (now CPMI) and IOSCO; contains 24 principles plus responsibilities for authorities. This site uses it only for high-level concepts such as settlement finality.

Correspondent banking (final report) ↗ — CPMI, Bank for International Settlements

Defines correspondent banking arrangements, including nostro/vostro account relationships, and analyses the decline in correspondent relationships and its drivers.

Published in July 2016; its statistics cover 2011-2015 and are dated, but the definitions and arrangement types remain widely used.

Fast payments - enhancing the speed and availability of retail payments ↗ — CPMI, Bank for International Settlements

Defines the key characteristics of fast (instant) payment services and analyses their benefits, risks, and implications for central banks.

Predates several major instant payment launches; this site uses it for concepts, not current statistics.

A glossary of terms used in payments and settlement systems ↗ — CPSS (now CPMI), Bank for International Settlements

Standard definitions for payment, clearing, and settlement terminology used across BIS committee reports and referenced by glossary entries on this site.

Terminology has evolved since this edition; newer CPMI publications refine some definitions.

Payments Signal editorial teaching models — Payments Signal

This site's own simplified teaching models.

Used wherever diagrams, scenarios, figures, or example values are didactic constructions rather than sourced facts; every such use carries a simplifications disclosure. All people, companies, banks, and list entries in examples are fictional.