The Committee on Payments and Market Infrastructures (CPMI), hosted by the Bank for International Settlements (BIS), published a report on October 29, 2026, defining four central bank roles as payment systems become more diverse: issuer, operator, overseer and catalyst. Titled "The roles of central banks and central bank money in the evolving payment system," the report examines stablecoins, tokenized deposits, programmable platforms, fast payment systems and non-bank payment providers. It describes central bank money as the safest and most liquid asset for settling payments in systemically important systems and as an anchor of trust that supports convertibility at par among different types of money. Private payment arrangements remain important because they support innovation, competition and services tailored to different users. The report says greater diversity may improve efficiency, competition and innovation, but could also create new interdependencies and alter the spread of credit, liquidity, operational and cyber risks. It links the evolution of digital money to practical decisions on access to central bank accounts, payment infrastructure, oversight and coordination. The report is a policy framework rather than binding global rules and calls for central banks to consider their tools together while maintaining strong international cooperation as national policies may differ.