The Asian Infrastructure Investment Bank has been granted "a very strong capital endowment" from 80 sovereigns globally, and stands to have "a significant impact in supporting Asia's large infrastructure needs," said S&P Global Ratings, explaining why it has assigned 'AAA/A-1+' long- and short-term issuer credit ratings to AIIB. "The stable outlook reflects our view that AIIB will develop a track record of delivering on its mandate while building its operational capacity and benefiting from strong shareholder support through preferred creditor treatment as well as maintaining an extremely strong financial profile," S&P added. Despite China being the largest shareholder (27 per cent), S&P expects exposure to China to be minimal. A new generation of non-bank payment service providers is now eligible to apply, for the first time, for direct access to a settlement account in the Bank of England Bank's RTGS system.  This revised Settlement Account Policy is intended to increase competition and innovation in the provision of payments services, the Bank said. Before non-bank PSPs can open a settlement account, however, they will need to demonstrate compliance with a newly developed risk management framework. A number of legislative changes also need to complete their passage through Parliament. As a consequence, the Bank's expectation is that the first non-bank PSPs will join RTGS during 2018.  More information here.