( 2021 ),'remittance prices worldwide quarterlyopens in a new window'4 financial stability board ( 2023 ),'fsb invites senior representatives from firms and industry associations to join cross - border payment taskforceopens in a new window'5 bank for international settlements : committee on payments and market infrastructure ( 2023 ),'bank for international settlements'committee on payments and market infrastructures invites market stakeholders to join cross - border payments interoperability and extension task force'opens in a new window 6 these forums are detailed in the fsb's priority actionsopens in a new window paper ( table 4 ). 2 / 2 bis - central bankers'speeches

standards. we need to work together to make payments faster, cheaper, more accessible, and more transparent. some of this work needs to continue to be international for example, agreeing approaches to harmonising rules and standards. but it needs to be complemented by action from the public and private sectors in individual jurisdictions to determine where progress is needed and how to best implement it through a range of projects and changes, in time to meet the 2027 targets. 1 / 2 bis - central bankers'speeches i encourage central banks, payment system operators, providers, participants, and users from all countries – including all those at the conference today and extending well beyond the g20 – to work together to enhance cross - border payments. we can continue learning from each other and refining our approaches via international forums led by the fsb and committee on payments and market infrastructures ( cpmi ) – such as the annual payment summit with senior industry representatives, the new industry taskforces 4, 5 working jointly with the imf and world bank on identifying appropriate technical assistance, and the new central banks'community of practice6. at the bank of england, we are already making tangible progress towards enhancing cross - border payments. we are currently undertaking a transformational rtgs renewal programme to deliver a range of new features and capabilities for payments. this will include several features highlighted in the priority focus areas – such as the adoption of iso20022 this summer, reducing barriers to access rtgs, and enhancing user functionality such as application programme interfaces ( apis ). as recommended in the may 2022 cpmi reportopens in a new window, we will also be working with the private sector to consider the case for an extension of rtgs operating hours, which could help to reduce delays in cross - border payments as well as settlement risks and liquidity costs. and we have already consulted industry on what more we can do, including discussions on demand for synchronised settlement which could link rtgs ledgers in different countries, in our roadmap beyond 2024. enhancing cross - border payments can deliver enormous benefits to business and consumers. we all have a role to play in making this a reality. i would like to thank abigail daniel and the cross border team for their help in preparing these remarks. 1 ft op - ed by jon cunliffe, ( 2020 ). " cross - border payment systems have been neglected for too long " opens in a new window 2 swift gpi 3 the world bank group