What does CPMI stand for?

The correct answer is the Committee on Payment and Market Infrastructure. This committee, which is part of the Bank for International Settlements, plays a crucial role in enhancing the safety and efficiency of payment, clearing, settlement, and related arrangements. It focuses on establishing robust payment systems and market infrastructures that are essential for facilitating global commerce and economic stability.

The designation of "Infrastructure" is significant because it emphasizes the foundational nature of these systems and processes in the financial ecosystem, which is a central theme in understanding global payments. The committee also encourages collaboration among central banks and market infrastructures to address regulatory challenges and promote innovative practices in the payments landscape.

This context underscores the importance of such a committee as it engages in research, produces guidelines, and fosters international cooperation—critical elements in building resilient financial infrastructures worldwide.