UK payment systems meet global standards amid resilience push

By Aarav Garg

A review by the Bank for International Settlements’ Committee on Payments and Market Infrastructures, and the International Organization of Securities Commissions has concluded that the United Kingdom maintains a strong and largely compliant framework for overseeing key financial market infrastructures (FMIs).

The assessment, published on 16 April 2026, focuses on systemically important payment systems, as well as central securities depositories and securities settlement systems. These infrastructures sit at the core of financial markets, enabling the movement of money, clearing of trades and settlement of securities transactions.

The report finds that the UK’s framework for payment systems is fully aligned with the internationally recognised Principles for Financial Market Infrastructures. These principles set out minimum requirements to ensure that financial systems are safe, efficient and resilient, particularly during periods of market stress. The UK is assessed as meeting all 24 principles in this category.

For central securities depositories and settlement systems, the framework is also considered complete and consistent across most areas. However, some elements are rated as only broadly or partly consistent. These relate mainly to aspects of risk management and governance, where authorities are encouraged to strengthen existing measures. The report frames these gaps as areas for improvement rather than significant shortcomings.

The review is based on the UK’s regulatory and supervisory arrangements as they stood on 30 September 2023, meaning more recent updates are not included. It also does not reassess central counterparties or trade repositories, which were covered in a separate 2015 review.

Overall, the findings form part of an ongoing global monitoring programme to ensure consistent implementation of international standards. By confirming a high level of compliance, the report supports the UK’s position as a leading financial centre, while also outlining targeted steps to further enhance the resilience and effectiveness of its financial infrastructure.