Payments
BoE set to gain stablecoin insolvency powers
Government proposal would amend existing rules for dealing with failed payment systems
Majority of central banks only have one RTGS contingency site
More than half of institutions have had RTGS outages since 2020
Many central banks plan RTGS upgrades in coming year
Over 80% expect to renovate systems within five years
Finland’s payments must be ready for emergencies, governor says
Rehn praises public-private emergency partnership but calls for “even higher level” of readiness
Digital yuan being tested at Chinese high school
“Smart ID card” allows students to make purchases – and parents to track them
Riksbank launches 24/7 instant settlement system
Rix-Inst operates on same technology as ECB’s Tips system
Norges Bank flags rising cyber threats
Study finds payment system is efficient and offers lower costs than neighbouring countries
Fed research examines single cyber attack’s effects on stability
Federal funds market and discount window kept banks liquid despite attack – researchers
QR code payments pave way for borrowing – BIS paper
Chinese merchants that offer QR code payments can more easily access credit from big tech firms
Cuban central bank to license crypto service providers
Resolution may encourage greater use of virtual currencies for remittances
Philippines central bank announces wholesale CBDC pilot
“Project CBDCPh” will test large transactions at limited number of institutions
HKMA advances e-HKD exploration
Authority notes risks around cyber security and removing intermediary banks
Mexico’s Rodríguez says CBDC project will take another year
New estimate would have the Bank of Mexico’s digital currency arriving in 2025
NBU restricts crypto purchases to stem capital outflows
Ukraine continues to accept bitcoin, ethereum and tether for war effort
Do CBDCs make sense for Latin America?
Steven Kamin says CBDCs may be particularly beneficial to emerging market economies
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
Asean pushing for greater retail payments connectivity
Finance ministers and governors discuss QR codes and instant cross-border payments
Quantum computing: ready for prime time?
Central banks should add QC to their strategic planning, despite it being a work in progress
Brazilian central bank strike escalates
Staff now out indefinitely, interfering with Pix and economic statistics
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
BoE’s Cleland calls for innovation in wholesale payments
Wholesale payments suffer from inefficiencies despite being critical to financial stability, official says
Central bank of the year: Bank of Korea
South Korea’s central bank was the first developed-world central bank to tighten policy to address inflationary risks
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Central Banking Awards 2022: third group revealed
Awards recognise payments, currency, regulatory technology and financial market infrastructure