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The International Payments Framework (IPF) was an initiative launched in 2010 to create a global framework for payment processing by the International Payments Framework Association, a trade association headquartered in Atlanta, in the United States. [1] The initiative and the association concluded in 2023 after achieving its objectives. [2]
In the United States, this spread into leasing the assets of U.S. cities and governmental entities and eventually evolved into cross-border leasing. One significant evolution of the leasing industry involved the collateralization of lease obligations in sale leaseback transactions. For example, a city would sell an asset to a bank.
An issue tree showing how a company can increase profitability: A profitability tree is an example of an issue tree. It looks at different ways in which a company can increase its profitability. Starting from the key question on the left, it breaks it down between revenues and costs, and break these down into further details.
McKinsey & Company's founder, James O. McKinsey, introduced the concept of budget planning as a management framework in his fifth book Budgetary Control in 1922. [ 39 ] : 25 [ 148 ] : 422 The firm's first client was the treasurer of Armour & Company , who, along with other early McKinsey clients, had read Budgetary Control .
Kazan Declaration of October 2024 recognised the benefits of cross-border payment instruments to minimise "trade barriers and non-discriminatory access" and the use of local currencies in financial transactions between BRICS countries and their trading partners", [12] without commitments to a unified currency.
The Cross-border Interbank Payment System (CIPS) is a Chinese payment system that offers clearing and settlement services for its participants in cross-border renminbi (RMB) payments and trade. CIPS is backed by the People's Bank of China and was launched in 2015 as part of a policy effort to internationalize the use of China’s currency.
The balance of payments (BOP) is the record of a country's monetary transactions with the rest of the world. Transactions are either marked as a credit or a debit. Within the BOP there are three separate categories under which different transactions are categorized: the current account, the capital account and the financial account.
A weak payment system may severely drag on the stability and developmental capacity of a national economy; its failures can result in inefficient use of financial resources, inequitable risk-sharing among agents, actual losses for participants, and loss of confidence in the financial system and in the very use of money.