Financial market infrastructure
German contactless payments rose due to Covid-19
Bundesbank board member says pandemic changed consumers’ use of debit card system
ECB announces independent inquiry into Target2 outage
Main findings on RTGS failure will be published by second quarter of next year, ECB says
ECB says Target2 outage was caused by third-party network device
“Root cause” was software defect in third-party network device in eurosystem’s network – ECB
Eurozone’s RTGS system suffers major outage
ECB says Target2 system’s production site had to shift to alternative region – rules out cyber incident
Eurosystem lays out retail digital payment strategy
Access to cash and level playing field for electronic payments are key elements – Panetta
China starts public trials of experimental CBDC
PBoC and Shenzhen local government issue digital yuan to test retail payments
UK’s access to cash policy pilots to launch in 2021
Industry body seeks permission from FCA to allow retailers to provide cashback services
Swift announces major changes to system
Cloud-based platform will allow end-to-end transactions visibility and innovation by firms, Swift says
Bank of Thailand launches DLT-based bond issue platform
Central bank says new platform increased efficiency of $1.6 billion retail bond issue
DLT could improve US payments – Fed team
Fed’s “FooWire Project” built simulated payments network using DLT platform
After Covid, CCPs face calls for revamped disclosures
Banks and buy-side firms working with clearers to provide more granular info on margin shortfalls
EU hands CCP members a narrow win on skin in the game
Clearing members could use the final rules to push for higher CCP capital globally
‘Big Tech’ firms could harm financial stability – DNB paper
Technology firms’ data access could lead to their dominance of some markets, researchers warn
Indonesia eyes netting changes to enable derivatives CCP
Central bank says legal amendments will pave way for locally cleared NDFs and interest rate swaps
Chinese state-run banks start testing PBoC’s ‘e-wallet’
Four biggest state banks trialling payments system for PBoC’s “digital yuan”
Bank of Japan intensifies CBDC research
Central bank appoints new CBDC head as ruling party warns Chinese effort poses security threat
Fed reveals instant payment plans
FedNow will feature interoperability on ISO 20022 message standard and new liquidity tool
‘E-money’ is boosting financial inclusion in Philippines – deputy governor
“E-money” system has driven rise in citizens with bank accounts, BSP says
Thai central bank authorises facial recognition as KYC tool
Bank of Thailand says move will help reduce spread of coronavirus
National Bank of Georgia upgrades FX infrastructure
Move follows other financial market infrastructure reforms in recent years
FCA launches new digital sandbox
Project will give firms access to “high-quality datasets” to test new technology
MAS finishes work on prototype blockchain payments system
Singaporean central bank and investment fund will share details of blockchain-based payments system
Contactless cards change young people’s payment habits - OeNB paper
Researchers use data on randomly selected 21,000 banking customers in Switzerland
Fed develops new fraud prevention model
Federal Reserve wants model to be voluntarily adopted across US payments system by 2024