The Council of Financial Regulators will be issuing periodic bulletins on its work shortly, a reformist step driven by the final report of the Productivity Commission on financial services.The newsy and timely update from the Payments System Board on Friday is almost a prototype, drawing on recurring topics from the industry news cycle.Banking Day abstracts "Recent developments in the ATM industry", a key topic for the board:"Members noted that there had been some rationalisation of the ATM fleets of some banks and other deployers during the past year in the context of a continuing decline in ATM use. "They agreed that consolidation or fleet rationalisation could result in a more efficient and sustainable ATM industry, but that policy concerns could arise if there was a significant decline in ATM coverage that made it difficult for people to access cash, particularly in remote or regional locations."Members noted there had been a rationalisation of the ATM fleets of some banks and other deployers during the past year. They agreed that rationalisation could result in a more efficient and sustainable ATM industry."The PSB made clear that "policy concerns could arise if there was a significant decline in ATM coverage that made it difficult for people to access cash, particularly in remote or regional locations."Escalating 'card not present' fraud - a predicted symptom of the legacy platforms of Australia's crisis-prone banking industry - is called out.The board said it "encourages participants in the e-commerce industry to continue to collaborate on this issue and to work with AusPayNet to finalise and implement a coordinated strategy to address rising CNP fraud as soon as possible."The Board discussed the Productivity Commission's finding that interchange fees in card payment systems can distort incentives, leading to inefficient outcomes. The Reserve Bank "agreed that it was appropriate to undertake comprehensive reviews of the regulatory framework around interchange every five years."The board did not consider a start date for this review.Of the NPP shambles in Australia, the RBA said this:"Members observed that the gradual rollout of the New Payments Platform is continuing and transaction volumes are picking up. "Members discussed the fact that a number of the major banks have been slow to make the new system available to their customers. "The Board expects the major banks to commit to bring on agreed functionality as soon as possible."