2018年-FSB全球金融稳定委员会_Stocktake_of_remittance_service_providers_access_to_banking_services_37页_753kb

Summary of the Stocktake of Remittance Service Providers’ Access to Banking Services

Core Content

This document, published by the Financial Stability Board (FSB) on 16 March 2018, presents a stocktake of the challenges faced by remittance service providers (RSPs) in accessing banking services. It outlines the findings of a comprehensive review of the remittance sector, including consultations with the private sector, and provides recommendations to address these issues.

Main Points

• RSPs are defined as non-bank financial institutions that transmit cross-border payments, often through agent networks, and are regulated. They are distinct from unregulated or informal entities.
• Correspondent banking relationships (CBRs) have declined, significantly impacting RSPs' access to banking services.
• The decline in CBRs is particularly acute in developing countries where remittances are a major source of household income and constitute a large percentage of GDP.
• Key drivers of reduced access include:
  • Profitability concerns for banks.
  • Perceived high risk from an AML/CFT perspective.
  • Inconsistent implementation of international standards and weak supervision.
• FATF defines remittance services as Money or Value Transfer Services (MVTS), which include RSPs and other non-bank entities.
• Innovation is identified as a potential tool to address de-risking and improve access, including the use of digital solutions, e-ID systems, and standardisation initiatives like ISO 20022.
• Technical assistance (TA) is recommended to support the development of regulatory and supervisory frameworks, data collection, and the implementation of best practices.

Key Recommendations

The report includes 19 recommendations grouped into four main categories:

1. Promoting dialogue and communication

   • Encourage stakeholder dialogue between the banking and remittance sectors.
   • Support private sector initiatives to improve understanding and cooperation.
   • Promote standardisation of financial communication and clearing/settlement infrastructures.

2. International standards and oversight

   • Ensure national authorities implement FATF standards for RSPs.
   • Improve coordination and information sharing among supervisory bodies.
   • Publish guidance on risk-based approaches and AML/CFT compliance expectations.
   • Evaluate and enhance regulatory and supervisory models for RSPs.

3. Use of innovation

   • Encourage regulatory support for innovation, including sandboxes and innovation hubs.
   • Promote technologies that aid in customer identification, such as e-ID platforms.
   • Support digital solutions and interoperability in payment systems to reduce costs and risks.

4. Remittance-related technical assistance

   • Focus TA on strengthening regulation and supervision of RSPs.
   • Help jurisdictions prepare national risk assessments.
   • Assist in reducing the use of cash in remittance flows.
   • Improve interconnectedness between remittance sending and receiving jurisdictions.

Key Findings

• Global remittance costs have declined over the past decade, but the average cost of sending USD 200 remains at 7.2% in 2017, above the UN Sustainable Development Goal (SDG) target of 3%.
• Sub-Saharan Africa has the highest remittance costs at 9.1%, and remittance flows are expected to grow, especially in Sub-Saharan Africa, Europe and Central Asia, and Latin America and the Caribbean.
• De-risking – the practice of terminating relationships with certain customer categories – has had a significant impact on RSPs, with 28% of RSP principals and 45% of RSP agents unable to access banking services.
• Small island developing states (SIDS), especially in the Pacific, face unique challenges due to limited financial inclusion, geographic dispersion, and small populations, which exacerbate the de-risking drivers.

Conclusion

The FSB, FATF, GPFI, and IMF/World Bank will coordinate to monitor the implementation of these recommendations and report back to the G20 in July 2019. The goal is to improve the access of RSPs to banking services, reduce de-risking, and support financial inclusion, while ensuring compliance with AML/CFT standards and promoting innovation in the remittance sector.