Financial Stability
Towards a Single Euro Payments Area - 4th report
In its fourth progress report on the Single Euro Payments Area (SEPA), published Friday, the Governing Council of the ECB defined the final SEPA objectives.
New Zealand's new coins introduced on 31 July
The Reserve Bank of New Zealand announced on Monday 20 February that New Zealand's new 50, 20 and 10 cent coins will be introduced on 31 July 2006.
Bank of England Payment Systems Oversight Report
The Bank of England published its second Payment Systems Oversight Report on Friday. It contains the Bank's latest assessment of UK payment systems against the internationally-recognised Core Principles for Systemically Important Payment Systems.
Comment: Payment system risks
While few would regard Britain's large-value payment system as risky - over its ten-year life, the system has suffered no major scares - how the system will bear up in a crisis or time of market stress is a cause for concern.
Asia’s bonny bond markets
Asian central banks have been actively promoting domestic bond markets. Anthony Rowley reports.
Tokyo disputes inflation targets
Disputes between the central bank and Ministry of Finance continue to stymie Japanese policymaking. Thomas Cargill and Federico Guerrero explain.
Performance measurement in central banks
Iain Thomson suggests ways central banks can incorporate best practice in commercial-sector performance measurement.
The ECB’s collateral framework
Francesco Papadia rebuts criticisms that the way the ECB treats government securities keeps market spreads artificially low.
The new Banca d’Italia
Mario Draghi’s first actions as governor have brought a much-needed breath of fresh air to the Banca d’Italia. Isabella Bufacchi reports from Rome.
Managing liquidity risk in a global system
In this exclusive article, Sir Andrew Large worries about the robustness of the financial system in times of stress – and calls for greater clarity from policymakers about lender-of-last-resort issues.
Fiji announces new banknote designs
The Reserve Bank of Fiji on Friday 10 February signed an agreement for the printing of a series of new design Fiji banknotes with De La Rue International Limited of United Kingdom.
RBNZ to raise Settlement Cash Level to $2,000m
The Reserve Bank of New Zealand will raise the Settlement Cash Level (SCL) from its current level of $500 million to $2,000 million, for value date 13 February 2006.
BoJ to implement next-generation RTGS project
The Bank of Japan said Friday it has decided to implement the next-generation real-time gross settlement (RTGS-XG) project.
Deutsche Bundesbank adopts SwiftNet FileAct
According to a report on Finextra.com, Deutsche Bundesbank is to adopt SwiftNet FileAct to begin standardizing its communications system for low value payments, bringing its branches in line with Germany's national Real Time Gross Settlement as it…
Survey of foreign exchange settlement risk
The Committee on Payment and Settlement Systems said Wednesday it will carry out a survey of how banks and other selected institutions manage the risks they can incur when settling foreign exchange transactions.
RBNZ to raise settlement cash level temporarily
The Reserve Bank of New Zealand will temporarily raise the Settlement Cash Level (SCL) from its current level of $20 million to $500 million, for value date 2 February 2006.
IMF's Rajan on perspectives on global imbalances
In the speech 'Perspectives on global imbalances' given on 23 January Raghuram Rajan of the IMF called on the US to cut its fiscal deficit to help counteract global imbalances.
Russia-Belarus to have common currency from 2008
Russia and Belarus will have a common currency starting from 1 January 2008, representatives of the Interbank Currency Council said on Friday.
Hunt on for 'radioactive dollars' in Kazakhstan
Kazakhstan is currently hunting for dozens of "radioactive dollars" circulating in the country's financial system.
BoE's Gieve: Oil prices should not impact on rates
John Gieve, the new deputy governor of the Bank of England, on Thursday 26 January rejected suggestions that UK interest rates should rise simply because of very high energy costs.
IMF paper: Vanishing contagion?
This IMF Paper, published January 2006, says that while a number of emerging market crises were characterized by widespread contagion during the 1990s, more recent crises have been mostly contained within national borders.
NY Fed's Geithner on global imbalances
In the speech 'Policy implications of global imbalances' given on 23 January Timothy Geithner of the Federal Reserve Bank of New York said the massive and growing U.S. current account deficit presents a threat to the world economy and an eventual…
Z$50 000 bank note coming to Zimbabwe
Zimbabwe's inflation ravaged citizens will soon have a new Z$50 000 bank note to make shopping easier, central bank governor Gideon Gono announced on Tuesday 24 January.
BoE's Lomax on global financial imbalances
In a speech at the Chatham House conference on Global Financial Imbalances given on 24 January Rachel Lomax of the Bank of England said large global economic imbalances increase the risk of financial market disruption, which could hurt economies.