In the context of globalization, even in the context of economic crises, the focus on increasing corporate income and maintaining and increasing capital encourages companies around the world to analyze dynamically changing opportunities for geographical presence, operational activities, the potential for international settlements, including various settlement tools that directly affect the implementation and development of business. It is also necessary to take into account the current conditions of economic restrictions that are widespread and affect financial, banking, including settlements and legal relations. Sanctions have a serious impact on the modern structure of cross-border settlement relations, foreign exchange transactions around the world. Access to payment systems is critical for banks and other payment service providers in ensuring safe and efficient cross-border payment services. Authorities and operators must weigh these benefits against potential barriers and risks. Stakeholders in the international settlement ecosystem, such as non-banks, financial market infrastructures and foreign banks, may face challenges in gaining direct access to the payment system. Thus, different jurisdictions have the option of improving access to real-time gross settlement systems and other key payment systems that make settlements in central bank currency. Optimized access to domestic payment systems can contribute to the development of international (cross-border) settlement systems by addressing key issues such as long transaction chains, high financing costs, low competition and outdated technologies. In particular, increased access to various solutions in the field of cross-border settlements can contribute to increased competition and the development of innovations, which ultimately reflects the interests of consumers and affects the cost of final products in the markets of different countries. In a broader sense, the financial system could benefit from better mitigating estimated risks and potential benefits to financial stability by reducing manytier arrangements and creating a more diverse and sustainable ecosystem.
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