FMI
Central Bank of Nigeria inks deal to set up credit fund for small businesses
Governor Godwin Emefiele signs MoU with state governments on $1.4 billion fund to lower lending rates for SMEs, but critics call for speedier remedies
Hong Kong and Thailand link settlement systems
New link will ensure the simultaneous delivery of US Dollars in Hong Kong and Thai Baht in Thailand; HKMA’s Peter Pang says it creates a ‘safer’ environment for settling forex transactions
Credit cards account for more than half of all payment cards in the US, report shows
Credit cards accounted for 334 million of the 776 million ‘general purpose cards' used in 2012; Over 250 million mobile payments made using mobile wallet application, Fed study finds
ECB data stolen in blackmail attempt
Hackers raid ECB database that contains around 20,000 email addresses of people who have registered for its events; security breach did not impact internal systems
RBA deputy hints at renminbi clearing bank and RQFII quota
Philip Lowe reveals that Australia should get a designated clearing bank ‘in the coming months’ and hopes to obtain a quota for investment in mainland China shortly after
Sri Lanka seeks return of money offered at Indian shrines
Sri Lankan central bank seeks to repatriate estimated 20 tonnes of coins offered as part of religious worship in India
Tanzania hits financial inclusion target early due to mobile surge
Benno Ndulu says the number of adults with access to financial services has doubled in five years; describes mobile phones as ‘critical link’ between the unbanked and the formal system
Euro banknote counterfeiting rises 4.4% year-on-year
‘Europa’ series will not address forgery problem until 2015; Eurosystem central banks urge consumers to ‘look, feel and tilt’ notes to look out for counterfeits
UAE central bank to put Braille on banknotes
Emirati authority joins Hong Kong in using feature rejected by the Bank of England and Bank of Canada, on the basis that not all blind people read Braille
Former SEC chair urges US to accept use of NGAs for overseas swaps
Recent focus on US banks' use of non-guaranteed affiliates risks taking regulators down a slippery slope - issue could be tackled via disclosure instead, argues ex-SEC chair Harvey Pitt
Effective oversight needed to consolidate gains from mobile payments infrastructure
Increased diffusion of mobile payments in developing countries calls for better oversight, IMF paper says - recommending that central banks cooperate with other regulators
Fed official reiterates forex options clearing guidelines
Lawrence Sweet highlights industry discussions around forex options clearing as key component of a private sector solution
Regulation may force some banks out of repos, says NY Fed's Davis
The New York Fed's head of financial market infrastructure, Jeanmarie Davis, says some banks will 'revisit their presence' in the repo business due to increased regulatory requirements
Georgia selects symbol for national currency
Central bank hopes new symbol, chosen by a commission guided by a public vote, will increase the popularity of the lari
MAS deputy reveals plans to tighten AML/CFT regime
Ong Chong Tee says Monetary Authority of Singapore will require banks to conduct wider assessments of money laundering and terrorism financing risks
Bank of Canada may ‘expand’ payments oversight
Deputy governor Lawrence Schembri says the central bank might be charged with the oversight of ‘prominent’ payment systems as well as those that pose systemic risks
France and Luxembourg join race to become Europe's renminbi hub
France and Luxembourg next in line for clearing banks after striking deals with PBoC over the weekend; French institutional investors also granted permission to invest in China
Lagarde says financial inclusion has key role in closing gender inequality gap
IMF managing director says women face extra cultural and educational hurdles in tapping into financial services, but financial inclusion can empower them
Zambia governor opens conference on financial inclusion for women
Michael Gondwe says deliberate policies and a long-term commitment will be needed to ensure financial inclusion for all Zambia's women
Riksbank brief: Virtual currencies 'essentially positive'
Digital money can make payments 'cheaper and more secure', argues staffer in economic commentary; risks mean virtual currencies should be assessed on a case-by-case basis
Central banks test ‘dry ice' banknote cleaning technology
Banks to test whether ‘supercritical' CO2 can rid notes of filth without damaging security features; central banks spend $10 billion to replace 150 billion banknotes each year
Serbia's slowing dinarisation expects boost from subsidised loan programme
A programme offering cheap dinar-denominated loans to the corporate sector should see use of the national currency bounce back, Serbia's central bank hopes
‘All pieces are in place' for co-ordinated regulation of European ABS, says Mersch
The various agencies in charge of regulating ABS in the EU should be able to co-ordinate their regulation of the asset class, Yves Mersch says
Economists worldwide find cash still used ‘extensively’
Economists from Australia, Austria, Canada, France, Germany, the Netherlands and the United States compare survey data on payments; find cash ‘has not disappeared’