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CFR Issues Paper: Review of Retail Payments Regulation: Stored-value Facilities

Summary:
The Council of Financial Regulators (CFR) today released an Issues Paper, Review of Retail Payments Regulation: Stored-value Facilities for public consultation. The Issues Paper is part of a CFR review of the regulatory framework for stored-value facilities, such as purchased payment facilities. The review will also consider the operation of a number of other aspects of the regulation of retail payments service providers that may have the potential to be improved or clarified. The closing date for submissions is 19 October 2018. For further details, please see the CFR Issues Paper, Review of Retail Payments Regulation: Stored-value Facilities.

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The Council of Financial Regulators (CFR) today released an Issues Paper, Review of Retail Payments Regulation: Stored-value Facilities for public consultation.

The Issues Paper is part of a CFR review of the regulatory framework for stored-value facilities, such as purchased payment facilities. The review will also consider the operation of a number of other aspects of the regulation of retail payments service providers that may have the potential to be improved or clarified.

The closing date for submissions is 19 October 2018.

For further details, please see the CFR Issues Paper, Review of Retail Payments Regulation: Stored-value Facilities.

Reserve Bank Australia
The Reserve Bank of Australia (RBA) came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. The bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions. It currently consists of the Payments System Board, which governs the payments system policy of the bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.

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