RBA provided an update on the meeting of Payments System Board, where following few points were discussed by the Board:
- The financial market infrastructures in Australia had generally performed well in times of operational as well as financial risk management challenges presented by COVID-19
- Retail payments providers have, to date, coped well with the altered operational arrangements and the effect of the coronavirus pandemic on the retail payments system.
- The progress by NPPA amid difficulties posed by COVID-19 was welcomed and Board is hopeful for further progress towards the delivery of the roadmap over the coming months
- The Bank looks forward to publishing its assessment of Australia's immediate gross settlement system in coming weeks.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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