FMI
Rosengren says cyber criminality could turn people to ‘less efficient' payment options
Boston Fed president says central banks ‘essential' to discussion on cyber security at Basel Committee conference in Cape Town
Central Bank of Nigeria sets up steering committee on financial inclusion
Committee comprising central bank governor and finance minister is tasked with coordinating national strategy; will meet three times per year and approve annual reports
Fed’s Powell: Virtual currencies ‘not ready’ for role in payments reform
Governor Jerome Powell says virtual currencies could play a ‘bigger role’ in the future, but are not yet ‘mature enough’ to contribute to the Fed’s faster payments initiative
IMF report says ‘time has never been more right' to reform securitisation markets
Staff report emphasises need to make securitisation practices more robust while spurring demand; calls for standardised classifications of underlying risk characteristics
Asean central banks to improve settlement transparency
Members of the Asean Central Banks’ Working Committee on Payment and Settlement Systems adopt principles to improve transparency for cross-border trade settlements
Fed challenges payments industry to get quicker and safer
New document sets out strategies for improving US payment system; Federal Reserve will only consider expanding role as service provider if private sector falls short
Swiss gain greater access to renminbi markets in new deal
SNB and PBoC ink deal on RQFII quota for Switzerland and establish renminbi clearing in the country; latest in a string of agreements aimed at renminbi internationalisation
Offshore renminbi clearing banks could face competition from 'superhighway'
As host countries play up significance of new clearing banks, questions emerge over whether they will become obsolete once Chinese ‘payments superhighway' comes into being
BoE’s Cunliffe wants better allocation of capital in Europe
Better functioning capital markets would encourage savings to be put to better use, allow greater risk sharing and provide alternative sources of finance, deputy governor says
Cuban central bank to issue three new large-value banknotes
Central bank plans to issue banknotes worth 200, 500 and 1,000 domestic pesos; the largest note currently in circulation is worth 100 pesos
Cash settlement shifts to central bank platform in Kenya
Cash settlement of equity and corporate bond transactions on Nairobi Securities Exchange now taking place on Central Bank of Kenya’s real-time platform
Central Bank of Nigeria eases rules for bank dollar holdings
Nigeria’s central bank has eased the rules for interbank dollar holdings in attempt to boost liquidity in forex trading market, but one FX strategist warns of ‘marginal impact’
Coins and notes with same value to circulate in Angola
Angola’s central bank will issue two new coins in November, of 50 and 100 kwanzas, which will circulate with equal denomination banknotes
No end in sight for cash payments, Canadian research finds
Despite its costs, cash remains a popular option among Canadians, with younger consumers and merchants showing the highest demand for cash
PBoC names clearing banks in Thailand and Malaysia
Industrial and Commercial Bank of China will clear renminbi in Bangkok and Bank of China in Kuala Lumpur, the central bank announces
Canadians want more women on banknotes, poll shows
Bank of Canada’s banknotes should reflect more gender equality and a better celebration of women, according to the Canadians who participated in an online survey by the central bank
MEPs strike deal to cap card payment fees
European Parliament reaches agreement on limits to the fees banks can charge retailers for processing payments in a bid to lower prices and tackle perverse incentives
UK payments regulator may use powers to force innovation
Payment Systems Regulator emphasises its "strong" powers over industry and says it will not hesitate to use them if firms fail to collaborate on innovation
RBNZ takes next step towards replacing settlement systems
The Reserve Bank of New Zealand is seeking registrations of interest from potential vendors to replace its current payment and settlement systems, NZClear and Esas
Central Bank of Ireland urges households to spend 2.5bn copper coins on Christmas shopping
Bank warns local shops are running out of coins as people consign them to ‘jars and piggy banks'; says small change ‘better being spent or given to charity'
Euro Retail Payments Board warns of fragmented market for 'instant payments'
Stakeholder group sets up working streams on 'person-to-person' and contactless euro payments; chair Yves Mersch stresses importance of instant clearing services
National Bank of Ukraine to overhaul payments system
National Bank of Ukraine is upgrading its payments system with a view to widening its use; it is also exploring the use of mobile applications in making payments
Resource costs of Australian payments system down as percentage of GDP
Consumers face similar cost for credit and debit card payments despite higher cost of credit cards to the economy, RBA paper finds
Ethiopia still ‘under banked’ despite 34% increase in bank branches
National Bank of Ethiopia reveals large increase in bank branches in annual report; argues there is still a need to ‘further develop’ the financial sector