A-P05 · PROCESS · globalGRA dossier · service level R0
GRAPayments and Market InfrastructureIn development
Global subject programme

Global industry questions

Priorities of Payments and Market Infrastructure shared across countries, and the methods used to compare them. A global programme is a shared agenda, not a claim of global offices.

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Publisher
The Global Risks Alliance
Field
Financial stability, Cyber and digital resilience, Digital public infrastructure
Status
In development
Service level
R0: information and enquiries

Workstream tracker

Global industry questions · Programme year 2

Two milestones at riskGRA · Payments and Market Infrastructure

Workstreams

owner · stage · status

Cross-border link designIncident managerBuildM6 · week 28At risk
Cyber resilience self-assessmentSystem operatorReviewM4 · week 13On track
Contingency site failover testIncident managerTestM4 · week 31At risk
ISO 20022 migrationOverseerBuildM3 · week 38On track
Participant fallback testingOverseerTestM2 · week 34Blocked

Effort against plan

person-weeks

Cross-border link…35 pw · req 42Cyber resilience…10 pw · req 32Contingency site…27 pw · req 35ISO 20022 migration50 pw · req 42

Milestones

  1. W9M1Cross-border link design: scoping note signed
  2. W11M2Inputs qualified at the gate
  3. W21M3Cyber resilience self-assessment: build review
  4. W31M4Controlled test with observers
  5. W41M5Publication and decision record

Payments and Market Infrastructure · Workstream trackerWorkstream tracker, in outline: domain structure with placeholder names and illustrative values, not a record.

01In brief

The short answer.

The Payments and Market Infrastructure global programme is the shared agenda of priorities in the financial stability field that cut across countries, such as retail and wholesale payments and operational test methods, with the methods used to compare them. It is an agenda, not a claim of global offices, and each element shows its status from the programme record.

02Canvas

Scoping to review.

Canvas · scoping to reviewDesign, not a record
Global industry questions: the policy cycleA problem reaches the agenda, options are formulated and appraised, consultation tests them, the mandate holder decides, implementation and monitoring follow, and evaluation feeds the next agenda. Design of the process, not a record of a run.

Fig.A programme from scoping to the owner's decision. Design, not a record.

03Geography

Activity and exposure in the United Kingdom and Ireland.

For global industry questions, in GRA's spatial-finance reading, the map opens on night lights and population density with night lights tonight from NASA GIBS, framed on the United Kingdom and Ireland; every other NASA layer, live feed and forecast waits in the layer list.

The interactive map needs JavaScript; the layer list and sources are below.

Layers 2

Activity and exposure, for this page

Latest available

NASA GIBS / EOSDIS · ASTER GDEM (METI, NASA) · Blue Marble (NASA) · © OpenStreetMap contributors (ODbL) · Natural Earth

Loading the latest NASA imagery.

Drag to move. Ctrl or ⌘ and scroll, pinch or the buttons to zoom; hover for the values under the pointer; reset returns to the region.

For global industry questions, in GRA's spatial-finance reading, the map opens on night lights and population density with night lights tonight from NASA GIBS, framed on the United Kingdom and Ireland; every other NASA layer, live feed and forecast waits in the layer list.Satellite and model products as NASA publishes them, each with its own date; indicators, not assessments of any place; claim ceiling INTEGRATED.

Data: NASA GIBS · ASTER GDEM · Blue Marble · © OpenStreetMap contributors · Natural Earth · GDACS · CIESIN/Columbia, NASA SEDAC HBASE · NASA/NOAA VIIRSSources and licences

  • We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • VIIRS Black Marble night-time lights, NASA Goddard Space Flight Center; distributed by the NASA Level-1 and Atmosphere Archive and Distribution System (LAADS DAAC); imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • Center for International Earth Science Information Network (CIESIN), Columbia University. 2018. Gridded Population of the World, Version 4 (GPWv4): Population Density, Revision 11. NASA Socioeconomic Data and Applications Center (SEDAC). Licensed under CC BY 4.0. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). CC BY 4.0
  • VIIRS near-real-time products (flood, land surface temperature, snow cover, corrected reflectance), NASA LANCE; imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • NASA Fire Information for Resource Management System (FIRMS), VIIRS 375 m active fire product, NASA LANCE; vector tiles via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • ASTER GDEM is a product of METI and NASA (ASTER Global Digital Elevation Model V003, NASA LP DAAC); imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • Made with Natural Earth. Free vector and raster map data @ naturalearthdata.com. Public domain
  • © OpenStreetMap contributors (ODbL), via NASA GIBS (coastlines, boundaries, roads and place names). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). ODbL
  • Blue Marble, NASA Earth Observatory; imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • Context on the globe and flat map: coastlines, boundaries, roads and place names from NASA GIBS reference layers (OpenStreetMap data, ODbL, © OpenStreetMap contributors); Blue Marble imagery as an optional base; 3D terrain and the elevation read-out from the ASTER GDEM elevation colour index (5 m to 200 m classes, exaggerated for legibility). Boundaries are drawn as published and imply no position on any territory.
  • Globe: MapLibre GL JS 6.9.1, BSD-3-Clause, © MapLibre contributors.
  • Live: GDACS (EC JRC / UN OCHA) Events are indicative, not official warnings.
  • Context: CIESIN/Columbia, NASA SEDAC HBASE. Center for International Earth Science Information Network (CIESIN), Columbia University, and NASA Socioeconomic Data and Applications Center (SEDAC): Global Human Built-up And Settlement Extent (HBASE) 2010; Seto, Guneralp and Hutyra 2012, Global Grid of Probabilities of Urban Expansion to 2030; Global Urban Heat Island (UHI) Data Set, 2013.
  • Observed (EO): NASA/NOAA VIIRS (Suomi NPP). We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS).
  • Optional layers (35 sources in the layer list: live, forecast, observed and context) print their provider credit on the map and here when switched on; forecasts are model output and derived indices are estimates.

Layers and dates

  • Night-time lights, daily: VIIRS Black Marble (VNP46A2), NASA LAADS DAAC · 12 Oct 2026
  • Population density, 2020: Population: CIESIN, Columbia University, Gridded Population of the World v4.11 (2018), NASA SEDAC, CC BY 4.0 · static
  • Flood water, 3-day composite: VIIRS Global Flood Product, NASA LANCE · 14 Oct 2026
  • Land surface temperature, day, 8-day composite: VIIRS NOAA-20 Level 3, 8-day, NASA LANCE · 14 Sep 2026
  • Active fires and thermal anomalies, last day: VIIRS NOAA-20 375 m (FIRMS), NASA LANCE FIRMS · 13 Oct 2026

04Scope

Global subject programme in Payments and Market Infrastructure.

  1. 01

    Retail and wholesale payments

    Payment rails and economic continuity.

  2. 02

    Clearing and settlement

    Settlement exposures and infrastructure.

  3. 03

    Central counterparty risk

    CCPs, collateral and liquidity.

  4. 04

    Cross border payments

    Interoperability and failure modes.

  5. 05

    Payment cyber security

    Operational integrity and threat exposure.

  6. 06

    Third party concentration

    Cloud, identity and outsourced systems.

05Global agenda

Payments and Market Infrastructure questions that cut across countries.

  • Where is gridlock risk? (Payments and Market Infrastructure)
  • How diverse are sites? (Payments and Market Infrastructure)
  • What does ISO 20022 change? (Payments and Market Infrastructure)

The global Payments and Market Infrastructure agenda is global targets, read against CPMI-IOSCO, FSB and CPMI and Central banks.

These Payments and Market Infrastructure questions are framed for FMI risk and operations staff, payment system overseers and settlement technologists, with scenario designs such as two-participant default and regional outage.

06Status

Work is shown as its record stands.

Programmes are listed as exploring, forming, constituted, active, paused or archived. Country and regional entries appear when a programme record supports them.

All programmes in Payments and Market Infrastructure

07Key terms

Terms used on this page.

Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.

TermDefinition
ProgrammeA group of related projects and activities managed together to obtain benefits that managing them separately would not, in the sense the Project Management Institute's programme standard uses.
Results-based managementA management approach in which everyone contributing to a set of results makes sure their processes, products and services serve those results, and measures progress against them, as the UN Development Group handbook sets out.
Theory of changeA stated chain of causes from a programme's activities to its intended outcomes, used to plan evaluation.
Settlement finalityThe point at which a transfer becomes irrevocable and unconditional in law.
08Sources

Where this page's references lead.

The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.

09Questions

Questions and answers.

How do I propose work at this level?
Write to contact@therisk.global or a regional desk. A proposal receives a reference.
Related

Around Payments and Market Infrastructure.

Payments and Market Infrastructure

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