Financial Stability
Brazil's interbank clearinghouse to bring benefits
BRAZIL - Brazil's new interbank payment clearinghouse is expected to stimulate online transactions between banks once it becomes operational, Brazilian financial daily Valor Economico reported.
BOJ to up security with new bank note issue
JAPAN - Novelist Ichiyo Higuchi (1872-1896), whose portrait is to be featured on a redesigned 5,000 yen bill, will be the first woman to appear prominently on Japanese paper currency since the end of World War II.
RBI group okays e-money
INDIA - The RBI Working Group on electronic money has said that e-money could be used as a substitute for the central bank notes and coins even though it would not be "desirable" to place any limit on storing monetary value in e-money.
Economic Review from the Atlanta Fed Bank
RESEARCH - The Federal Reserve Bank of Atlanta has published its Economic Review for the Second Quarter 2002. The Review features articles including 'The Economics of Payment Finality' and Asset Returns and Economic Risk.
Introduction of New Series Bank of Japan Notes
NOTE ISSUE - The Ministry of Finance has decided and announced the manufacture of new series of the 10,000 yen, 5,000 yen, and 1,000 yen Bank of Japan notes in order to improve their security against counterfeiting.
ECB report euro notes proving tough to counterfeit
GERMANY - The new euro bank note has proved bad news for forgers: less than a tenth of the previous number of counterfeit notes in the eurozone has been detected in the first six months in which the new currency has circulated.
Committee on Payment and Settlement Systems
REPORT - Bank for International Settlements, Statistics on payment and settlement systems in selected countries. Prepared by the Committee on Payment and Settlement Systems of the Group of Ten Countries, Figures for 2000, released 31 July.
CCE to move US$10mn this year - Peru
PERU - Peru's electronic payment association (CCE) expects its online wire transfer and credit card payments facility to move US$10mn this year, Peruvian daily Gestion reported on Tuesday.
Central Banker, Summer 2002
REPORT - The Summer 2002 edition of the St. Louis Fed's Central Banker magazine has been published. This edition includes articles on why the St. Louis Fed was chosen as the No. 1 Treasury check-processing site and asks What can banks do to better manage…
Postal body gets BOJ online clearance
JAPAN - The public corporation that will replace the state-run postal services next April in Japan will be able to settle accounts with private banks in real time, officials said over the weekend. By gaining access to the Bank of Japan's transaction…
European Central Bank Consultation Announcement
ANNOUNCEMENT - Oversight standards for euro retail payment systems, 8 July.
Oversight standard for euro retail payment systems
REPORT - European Central Bank Document for public consultation, 8 July.
Ecuador's banks adopt electronic interbank system
ECUADOR - Ecuadorian banks have 60 days as of 27 June to adapt their systems to the central bank's electronic interbank payment system, Ecuadorian financial daily El Comercio reported.
Indian banks woo credit card users
INDIA - India's largest commercial bank plans a credit card revolution that it hopes will increase its share of the retail banking market by 47%.
Reserve Bank of Australia Discussion Paper
RESEARCH - Reserve Bank of Australia Discussion Paper: Options for EFTPOS Interchange Fee Reform, EFTPOS Industry Working Group, July 2002.
Norges Bank Press Release
PRESS RELEASE - Norges Banks Annual Report on Payment Systems for 2001, 2 July.
Bank plans to unveil Islamic 'credit card'
UAE - National Bank of Sharjah (NBS), which enjoys the rare distinction of being the world's first and the only conventional bank to have converted into an Islamic bank, is planning to launch an Islamic 'credit' card, reports Gulf News.
Credit card boom assessed in Thailand
THAILAND - Recent research suggests that changes made by Thailand's central bank to the requirements for card applicants could double the number of credit cards held in the country by the end of the year.
Armenia to reinforce protective features of notes
ARMENIA - From 1 July 2002, the Central Bank of Armenia will put into circulation 1,000-dram banknotes with an enhanced protection system and a number of changes in its design.
Malaysia to introduce smart cards next year
MALAYSIA - While commercial banks will reimburse those who had money illegally withdrawn from automated teller machines, Bank Negara has directed banks to replace magnetic strips with chip technology from next year.
Black rivals aim to take the shine off gold cards
UK - When it comes to credit cards, black is the new gold reported Tuesday's Financial Times. National Westminster Bank has launched the first of a new class of premium cards aimed at the country's highest earners and designed to leave the gold card…
Federal Reserve Board Press Release
PRESS RELEASE - Joint Press Release by the Board of Governors of the Federal Reserve System and the Bureau of Engraving and Printing, 20 June.
China's e-banks gaining popularity
CHINA - At least 2.5m Chinese "netizens" - about 23 per cent of the country's regular Internet users - are likely to use electronic banking services, said a recent AC Nielsen survey on e-banking, reports the New China News Agency.
US brings colour to new 'greenback' notes
US - The end of the greenback could be close, it is reported. The US government on Thursday announced plans to introduce other colours on dollar bills to help tourists tell the different notes apart.