Cash
New South African president supports pan-African currency
Cyril Ramaphosa says it is time Africa abandons “colonial mentality” and adopts common currency to foster investment and intra-African trade
UK’s PSR needs powers to protect cash – report
Think-tank report believes regulator should have consumer protection mandate, as cash machine closure threatens to leave the public excluded from payments network
UK considers scrapping some currency denominations
Decline in cash usage has seen the 1p and 2p coins largely fall out of circulation
Central bank digital currencies could aid policy transmission – BIS
BIS says CBDC may boost transmission of rate changes, but could also lead to runs at “unprecedented speed and scale”
BIS research finds ‘scant evidence’ of shift away from cash
Rise of electronic payments is not reflected in falling demand for cash
Malaysia central bank dismisses concerns over government cash handout
BNM says cash handout idea was “first mooted” by its board, dismissing the suggestion it was designed to “tempt” the Malaysian people
Sweden must ask fundamental questions on money – Ingves
Sveriges Riksbank governor Stefan Ingves says lawmakers must act to preserve the regulation of the payments system
Fed’s Dudley says Puerto Rico must ‘start from scratch’
Territory must face up to “painful” decisions to tackle debt and infrastructure problems
The winners of the 2018 Central Banking Awards
Bank of Canada wins Central Bank of the Year, Lesetja Kganyago picks up Governor of the Year and Perng Fai-nan receives Lifetime Achievement Award; 16 more awards unveiled
UK firm chosen for Fed cash management overhaul
CPS will take part in “competitive development” to replace high-speed cash-processing machines; firm’s software already used by Norges Bank
UK lawmakers launch inquiry into DLT and cryptocurrency
Parliamentary committee is to investigate whether UK regulators have struck the right balance in regulating emerging technologies without stifling innovation
Denmark selects Oberthur Fiduciaire as banknote supplier
The agreement will last four years, and the first notes printed by the firm are set to enter circulation in 2020
We don’t need cryptocurrencies – former St Louis Fed economist
Current payment infrastructure and physical cash already provide the benefits offered by cryptocurrencies, says Stephen Williamson
New York Fed economists unconvinced on crypto’s viable uses
Cryptocurrencies would work in dystopian world, economists say, but current environment means advanced economies have no need for them
Potential ATM closures will be PSR’s first ‘major test’ – Morgan
Treasury select committee chair says Payment System Regulator should not hesitate to intervene should closures threaten financial stability; market calls for independent review
Consultancy and advisory provider of the year (currency management): De La Rue
The UK-based company is helping central banks monitor the lifespan of banknotes in a bid to improve stock management and cost-effectiveness of currency operations
Banknote and currency services provider of the year: Landqart
The leading hybrid substrate provider offers the durability and increased security of polymer combined with the security features and customer familiarity of paper
Banknote and currency manager of the year: Norges Bank
The Nordic central bank has redefined how its banknotes are designed, incorporating top-notch security and an innovative awareness campaign
Macao turns to facial recognition to fight money laundering
Chinese tourists now have to verify their identities in order to withdraw cash at most ATMs in the casino hub
Danish central bank dismisses central bank digital currency
Digital instrument would not make current payment system more efficient, says report, adding introducing such a currency would pit the central bank against commercial institutions
Sarb closes branches to optimise cash management
Inefficiencies prompt central bank to close three of its branches, while remaining three are ‘converted’ into cash centres
Bank Indonesia to nudge more people to open bank accounts
The country aims to boost the percentage of the population with bank accounts to 75% by 2019
Malaysia’s Ibrahim warns of costs of not turning digital
Bank Negara governor outlines plans to push consumers towards e-payments, as the cost of cheque processing weighs on the economy
Denmark ‘not heading for cashless society’ – research
Central bank recognises cash transactions are in decline, but says consumers will always have the option to pay with cash