Payments
Timothy Lane on CBDCs and why the private sector is no competition for central banks
The Bank of Canada deputy governor discusses the difference between a private-sector-motivated digital currency and a CBDC, and why finding a balance between privacy and regulation is such a challenge
CBDCs cannot have unlimited privacy – Canadian deputy governor
Timothy Lane says central banks should consider “hybrid privacy levels”
Banque de France names CBDC partners
HSBC and Euroclear among firms chosen to take part in CBDC experiments that include improving cross-border payment infrastructure
FATF will set up global network of virtual asset supervisors
Current standards are sufficient to govern stablecoin activity, report says, but risks may grow
MAS finishes work on prototype blockchain payments system
Singaporean central bank and investment fund will share details of blockchain-based payments system
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
Cash issuance in Botswana balloons 18% in 2019
Annual report shows banknote issuance growth for all denominations, despite rise in electronic payments
Libra reinvents itself in bid to overcome ‘fatal’ flaw
Pivot to present more of a payment-network image could save libra from regulatory haranguing. But at what cost for innovation?
PBoC partners with tech giant to test digital yuan
Chinese ride-hailing firm partners with PBoC digital currency research arm to test digital yuan
People: CBSL gains board members; RBNZ forms new department
RBNZ fills two new payments roles; long-time Danish official retires from the central bank; ECB comms chief moves to private sector
Bank of Japan to begin testing CBDC
BoJ publishes report on feasibility of digital yen, a surprise move after governor’s ‘lack of demand’ comment
CBDC can boost de-dollarisation and inclusion – Cambodia
Cambodia’s central bank says its quasi-CBDC network can promote use of local currency and improve financial inclusion
Zimbabwe increases interest rates as inflation soars
Central bank raises interest rates to 35%
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
Mobile payments banned in Zimbabwe
Central bank suspends mobile payment platforms following government circular
BIS expands innovation hub network
Several new locations unveiled in Europe and North America
Podcast: Georgia’s data-driven response to Covid-19
Covid-19 has provided the NBG a chance to test out its new data capabilities
Libra could cause central banks to lose control over monetary policy
Stablecoins linked to global reserve currencies could pose problems for monetary policy – research
Contactless cards change young people’s payment habits - OeNB paper
Researchers use data on randomly selected 21,000 banking customers in Switzerland
Covid-19 has highlighted payments systems problems – BIS report
Pandemic may have strengthened case for central bank digital currency, report says
New European payment effort delayed due to Covid
Consolidation of Target2 and T2S platforms hindered by pandemic
Brazil suspends WhatsApp payments
Facebook’s app had launched digital payments in Brazil on June 15
Singapore and China to deepen collaboration on green finance
MAS chief proposes working together in areas including loan syndication and verification