During June 2014, the central bank Governors of the Global Economy Meeting decided to rename the Committee on Payment and Settlement Systems (CPSS) to the Committee on Payments and Market Infrastructures (CPMI).
The CPMI’s primary task is to promote the safety and efficiency of payment, clearing, settlement and related arrangements, thereby supporting financial stability and the wider economy. Comprising senior officials from 25 central banks, the Committee monitors and analyses developments in these arrangements, both within and across jurisdictions. It also serves as a forum for central bank cooperation in related oversight, policy and operational matters, including the provision of central bank services.
The CPMI is a global standard setter that aims at strengthening regulation, policy and practices in this area worldwide.