Libra set for a date with ECB officials in Switzerland

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  • 25 members forming the CPMI will meet Libra representative for discussions on Monday, September 16.
  • ECB’s Benoit Coeure will chair the meeting.

Facebook’s Libra is looking forward to discussions with the European Central Bank (ECB)’s officials. Other officials from 25 global central banks are expected to attend the meeting. The representatives of Libra will sit with the Committee on Payments and Market Infrastructure (CPMI) according to a report by the Financial Times on September 14.

CPMI a section of the Bank of International Settlements (BIS) is known as the international standard setter. It is made up of 28 member banks including the Bank of England, the Federal Reserve Bank of New York and Bundesbank.

The meeting is going to be one of the biggest between Libra representative and the global financial policy setters. The meeting will be chaired by ECB’s Benoit Coeure who has said more than once that approval for Libra’s operation in the European Union will only be given after Facebook clears all concerns.

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