Payments
UN report questions value of fintech sandboxes
Regulators are “unprepared” for the level of effort and resources needed to launch a sandbox, but complementary policies and thematic sandboxes could be the answer
Bank of Spain paper rejects bitcoin as alternative to large-scale payment system
Objectives of crypto asset make it unsatisfactory as a payment network – research
EU to cut price of cross-border euro payments
Amended law will also give customers information on currency conversion charges
Big tech companies poised to disrupt financial services – FSB
New report claims fintech hasn’t affected competition in financial sector, but big tech firms could pose stability risk
Central Banking expands fintech bandwidth
New fintech category; newsletter to offer insights into related opportunities and threats
UK cash system needs revamp, says Payment Systems Regulator chair
Charles Randell tells lawmakers the regulator will look at entire cash provision infrastructure in 2019
Lifetime achievement: Zhou Xiaochuan
The former People’s Bank of China governor stands out for his high levels of integrity, intellectual rigour and bold reforms that have served the public interest in China and elsewhere
CBDC is mixed bag for financial stability – Bank of Korea
Central bank paper highlights stability concerns but says there are instances within which a CBDC could strengthen stability
Interview: Jussi Kangas on the future of cash
Bank of Finland adviser says it’s challenging to keep the cash cycle efficient as usage falls
People: Ghana’s Addison to chair Ecowas governors
Thailand appoints assistant governor; Vietnam announces deputy payments director
Central bank of the year: Monetary Authority of Singapore
Singapore’s central bank stands out for its pioneering fintech efforts combined with its consistency of performance in monetary policy, financial stability and supervision
Thailand and Cambodia join forces on QR code network
Central banks to pilot QR code network for retail payments
Countries must counter money-laundering through fintech – IMF official
IMF’s Adrian calls for regional co-operation and consultation on new payment systems
UAE central bank and Sama partner for blockchain project
New system will provide central financial transfer system that aims to make the process of remittance payments more efficient
Website of the year: Sveriges Riksbank
The Swedish central bank has redesigned and restructured its website to great effect, with users staying longer and engaging with more content
Advisory services: Deloitte
Deloitte has a growing central bank footprint, including new projects on strategy and cyber resilience in Canada, fintech in Saudi Arabia and DLT in Hong Kong
Second round of 2019 Central Banking awards winners revealed
Winners include Warren Coats, St Louis Fed, Bank of Israel, RBA and National Bank of Ukraine
Payments and market infrastructure development: Reserve Bank of Australia
The RBA has spearheaded the development of an upgraded retail payment system that includes real-time settlement
Crypto assets hobbled by proof of work, finds BIS economist
Raphael Auer says bitcoin payments could take “nearly a year” to become truly final
Bhutan strengthens relations with India through payment co-ordination
New proposals will limit the number of tourists having to bring cash into the countries as ATMs and POSs become interoperable with local cards
MAS to gain powers over wider set of payment services
Central bank will also enforce new limits for coin payments
AML/CFT regulation to cover crypto assets – Sarb
New proposals will construct a “limited” regulatory framework for crypto assets
BIS’s Borio calls on economists to take money more seriously
Money is too often explored in isolation, or ignored completely, the BIS economist says
Mexico unveils measures to foster financial inclusion
Plan intends to promote digital payments, facilitate access to credit and deepen capital markets