LPFMI and Economic Innovation – Cross Border Payments and Blockchain

WEBINAR INFORMATION
Cross Border Payments form a crucial part of the role of the Payment Financial Market Infrastructures (FMIs) in maintaining stability of exchange rates across the globe. The recent CPMI report from BIS calls out the necessity to improve cross-border payments to make them faster, cheaper, more transparent and inclusive and aims to resolve longstanding frictions and challenges in cross-border payments would boost global trade, development and economic growth.

In this webinar, we shall take a closer look at the skeleton of traditional cross-border payments and then with a fine-tooth comb, understand the reasons behind the challenges that current payment FMIs face along with their impact on end-users. We would then steer towards the construct of the a broad-brush blockchain based solution for cross border payments, how it is fundamentally different from traditional construct and how, because of its construct, it helps alleviating some glaring pain points. As no solution is a panacea, we shall end the session with the challenges that the blockchain offerings face in its current form (in context of cross border payments) and discuss how some industry and regulatory interventions could smoothen the evolution of industry and payments FMIs to a seemingly promising transition.

LPFMI INFORMATION
As some of you know, LPFMI is concerning itself around liquidity questions in financial market infrastructure (FMI) and is therefore open to all questions regarding
i. Liquidity problems at FMIs – this is the core of this project
ii. Liquidity problems in the financial system – this could be the next LP focus
iii. FMI problems in general – this includes innovation such as blockchain / DLT

Should you want to learn more about LPFMI, check out the links below for our initiation presentation from Jun. 2019. There were also Q&A webinars on the presentation, you can check out as well or reach out to any of us at LPFMI. Come join us!

LPFMI EVENTS OUTLOOK
The above mini webinar series will be part of a broader LPFMI Fall 2020 curriculum. You can find an overview (date 04. Oct. 2020 subject to updates) at https://drive.google.com/file/d/10Hgj3S9Oh-k29eEypaIv6MhSkOHJWgAu/view?usp=sharing Come join us as well for the other webinar series!

LPFMI and Economic Innovation (con't)
• Introduction to Stablecoins‐ Theory, Structures, Use Cases
• FX Past, Proposed and Missing Innovation with Dr. Robert Hofmeister (ECB)

LPFMI and the Law
• PREP. – CCPs for OTC Derivatives: the Foundations of the Legal and Regulatory Framework
• DEBRIEF – CCPs for OTC Derivatives: the Foundations of the Legal and Regulatory Framework with Dan Awrey (Cornell)
• Uncleared margining regulation with Poseidon Retsinas (HedgeLegal)

LPFMI and Economic Development
• CCP role in Frontier Countries with CCP expert

LPFMI @ YSI Virtual Plenary
• LPFMI events 6. – 15. Nov. 2020 online to be confirmed soon

Earmarked F2F conferences – to be confirmed
• LPFMI along BuBa/ECB/FRBC CCP conference 1. ‐ 4. Mar. 2021 in Frankfurt, DE Europe
• FRBC annual OTCD/Clearing Symposium in Jul. 2021 in Chicago, IL USA