Media Release Payments System Board Update: May 2016 Meeting

At its meeting today, the Payments System Board discussed a number of issues including:

• Review of Card Payments Regulation. The Board discussed in detail the competition and efficiency issues involved in the Review that was initiated in March 2015. The Board discussed submissions made by stakeholders and was briefed on the extensive consultation process undertaken by the staff. The Board made a number of decisions in relation to the Review and approved the publication of a Conclusions Paper and Final Standards to reflect these decisions. The Bank expects to publish this material within the next week.
• ASX Default Management Arrangements. The Board considered a detailed review of ASX's default management arrangements, covering matters such as design, tools, documentation, review and testing. The review will be included in the Bank's 2015/16 Assessment of the ASX Clearing and Settlement Facilities, which will be finalised ahead of the Board's August meeting and published shortly thereafter.