Payments
Bafin says it did not supervise scandal-hit Wirecard
Official tells Central Banking he is “not aware” of any agency supervising firm implicated in fraud
Fed develops new fraud prevention model
Federal Reserve wants model to be voluntarily adopted across US payments system by 2024
Bank of Thailand to build trial CBDC payment network
Project will see cement company using blockchain network to process suppliers’ payments
PBoC opens local currency payments market to first foreign company
Central bank issues clearing licence to Amex in step towards opening up one of world’s biggest bank card markets
CBDC development pushed into ‘top gear’ by Covid – policy-makers
The pandemic will have a lasting impact on consumer payment behaviour, panellists say
Covid-19 must not cause ‘technological lockout’, says RBA’s Bullock
Merchants could be hit if dual pricing is unavailable for mobile payments, deputy governor says
People: Hungarian deputy unexpectedly resigns
Marton Nagy resignation raises questions on future policy; BIS picks new CPMI secretariat head
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding
Fed could exploit helicopter money with digital currency system – former officials
Simon Potter and Julia Coronado propose recession insurance bonds, consumer QE and Fed-backed digital currency as crisis tools
Banque de France CBDC project uses blockchain to settle transactions
Central bank and French lender use blockchain platform to pay for €40m securities tokens
MAS will regulate token derivatives
Central bank updates securities legislation to regulate tokens offered by approved exchanges
Banks are ‘inherently unstable’, BIS paper finds
Researchers study the many roles banks play and find all of them tend towards instability
Morocco’s central bank prohibits bank dividend payments
Central bank tells financial institutions to ensure they are able to keep funding businesses in need
Central banks shift focus to retail CBDCs
Central Banking survey reveals shift away from wholesale experimentation, as central banks consider whether the general public should be able to hold CBDC accounts
The Central Bank Digital Currency Survey 2020 – debunking some myths
Most central banks believe there are retail uses for central bank digital currencies, but few plan to launch a CBDC in the coming five years, with most rejecting the use of blockchain
Payment giants ask EBA for PSD2 extension
Covid-19 disruption puts strong customer authentication deadline in doubt
Cash usage decreases as confidence in banks rises – research
Research included in MAS review flags importance of psychological factors in cash usage
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
FedNow: the road to non-bank access to US instant payments
Debate over granting non-banks access to Fed systems reveals possible flaws in US regulation
Argentina’s central bank takes part in blockchain clearing pilot
Test system will use smart contracts with timestamping from the bitcoin blockchain
Cash usage falls further in Netherlands
Study shows contactless payments are the main driver away from cash payments
Regulators must enforce stronger payment data protection – CPMI
Payment oversight needs to be updated to accommodate fintech firms and protect consumers
FSB outlines 10-point plan for tackling global stablecoin risks
Some powers already exist but stablecoins may cut across regulatory boundaries, report says
MAS promotes e-payments amid pandemic
Central bank launches campaign for PayNow and universal QR code