FMI
Palestine Monetary Authority launches new clearing system
Automated clearing system developed in Palestime with technical assistance from the World Bank and Bank of Italy; part of PMA’s wider plans to upgrade retail payment infrastructure
Key innovation behind Bitcoin could prompt ‘fundamental change' to payment systems
Article published by Bank of England says ‘distributed ledger' technology could have ‘much broader' impact beyond payment systems
LCH payments system raises concentration concerns
A large proportion of cash payments between clearing members and LCH.Clearnet are processed by just two banks, raising concentration risk concerns from banks and regulators
CPMI report reviews the ‘growing involvement’ of non-banks in retail payments
Working group chaired by Reserve Bank of India’s Padmanabhan says the presence of non-banks in payments raises 'level playing field issues' for central banks to consider
De La Rue ‘preferred bidder' for next Bank of England printing deal
UK printer expected to sign contract with central bank next month and start producing new notes in April; BoE hired Innovia Security to supply polymer substrate in March
Timor-Leste central bank green lights mobile money pilot
Initiative will allow users to execute payments, transfers and withdrawals through mobile phones, and follows the introduction of a ‘master plan’ for financial sector development
Dutch payments forum looking to ‘speed-up’ transfers
Frank Elderson hopes the forum’s plan will ‘spark real-time payment transfers’, noting this would require a ‘comprehensive renewal’ of market infrastructure
RBI's Joshi: Direct benefit transfers a ‘game changer' but have ‘not progressed smoothly enough'
Indian financial inclusion initiative needs government streamlining and the help of commercial banks to work, says Deepali Pant Joshi
Europe doubles RMB transactions with Greater China in one year
European hubs fuel growth in renminbi usage with 10% share of global payments, after major financial hubs sign swap agreements with the People's Bank of China
Malaysian central bank looks to set up financial ombudsman service
Scheme would ensure ‘effective and fair handling of complaints' against financial service providers, says bank, which adds service could be up and running in 2015
Reserve Bank of India to trial ‘plastic banknotes’
Annual report details plans to run a ‘field trial’ of plastic banknotes by 2015, in addition to several other initiatives aimed at improving the central bank’s cash management
Finnish paper says Sepa 'not enough’ on its own
Researchers argue that Sepa is an ‘important’ initiative but further measures will be needed to create an efficient payments system; call for ‘vigorous’ competition policies
ECB designates four 'systemic' payments systems subject to new regulatory standards
European Central Bank identifies four payment systems as systemically important, which will now be governed by stricter oversight standards that entered into force last week
Central Bank of Nigeria defends reintroduction of fees on ATM withdrawals
Bank says reintroduction of fee will hinder abuse of expensive ATMs and promote its cash-less policy; fee was abolished in 2012 to encourage use of ATMs
Cœuré sees cyber threats and virtual currencies rising on payments agenda
Chair of the CPSS suggests the organisation should look beyond securities and derivatives markets in the 25th anniversary edition of Central Banking journal
Lithuania takes delivery of first euro coins
1,740 tonnes of coins must be minted ahead of currency switchover on January 1; delivery is supervised by police under special agreement signed in May
Payments achitecture fit for the 21st century
Globalisation, changes in FMIs and the emergence of new payment schemes will require ever closer co-operation to ensure the safety and efficiency of the underpinnings of the financial markets
Renminbi as a reserve currency
China’s renminbi is gaining traction as a global currency, which will pave the way for a multiple global reserve currency system. Discussed here by John Zhu, economist, Greater China, HSBC
Time for clock synchronisation – regulators
Global regulators assess the need for a central reference clock to aid investigations into alleged abuse of financial markets
Malaysian deputy targets 'distortions’ in payments market
Muhammad bin Ibrahim says ‘more needs to be done’ to correct price distortions that he believes are holding back electronic payments in the country
UK government to 'explore potential of virtual currencies'
Major study will look into whether regulation is required for businesses to set up in the UK, says chancellor George Osborne, who adds virtual currencies can ‘transform lives’
Chan says Hong Kong has nothing to fear from further mainland liberalisation
Competition from Shanghai 'not a zero sum game' says HKMA head; rather, further internationalisation of the renminbi will create a 'bigger pie'
Better budgeting tools could encourage low earners to switch from cash to card
Researchers find that low earners prefer to use cash over the debit card because they find it more effective as a monitoring and budgeting tool
Opinion: Sepa opens borders for European money
ECB’s director-general of market infrastructure and payments reflects on the successful creation of the single euro payments area, its beneficial impacts and the payment cards challenge to come