Financial market infrastructure
France and Tunisia carry out cross-border CBDC transfer
Latest BdF experiment sees central banks make wire transfer using wholesale CBDC
PBoC and Swift to offer cross-border payments services
Joint venture will set up local network and data centre to support financial messaging, PBoC says
BoT says prototype corporate CBDC boosted efficiency
Thai central bank says DLT allowed cement firm to integrate payments systems with suppliers
Kenneth Montgomery on the Fed’s progress with instant payments
The FedNow project leader explains how the US will develop ubiquitous, real-time payments
PBoC subsidiary sets up joint venture with Swift
New initiative could be involved in internationalising renminbi and developing digital currency
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021
Danish central bank moves closer to Target settlement systems
National Bank of Denmark applies to use T2 RTGS system and may start using Tips
Project Helvetia proves central banks can use tokenised assets – BIS
Benoît Cœuré says project marks “the beginning of the further evolution of central banking”
Dollar Libor reprieve sparks fallback uncertainty
Popular settings to end in June 2023; market seeks clarity over timing of fallback spread triggers
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”