Financial Stability

Japan's RTGS to go live Jan 4 as planned

The Bank of Japan said Jan 2 it would launch its new real-time gross settlement system for bond and money market trading on Thursday, as planned. The BOJ made the announcement after earlier conducting a last-minute systems test to make sure all…

Central Bank of Nigeria held 224 clearing sessions

The Central Bank of Nigeria (CBN) in Kano has this year held 224 clearing sessions, during which 275,681 instruments valued at about N181 billion were cleared, the CBN Kano branch controller, Mr. Okun Folami, has said.

HK US dlr clearing volume picking up over time

Hong Kong's recently introduced U.S. dollar clearing system is unlikely to see volume pick up fast in the near-term as clients test the waters and wait for more services to be priced in U.S. dollars, said settlement bank Hong Kong and Shanghai Banking…

UK govt climbdown on payment system regulation

The UK government on Wednesday dropped plans for a new banking regulator to monitor the payments system, and handed responsibility to the Office of Fair Trading, which has general responsibilities for promoting competition.

EDS, Orga win Austrian gov't smartcard contract

The Austrian government yesterday provisionally awarded a much delayed smart card contract to US-based Electronic Data Systems Corp and German chipcard manufacturer Orga Kartensysteme. The smart cards will be issued to the approximately eight million…

HKMA launch final stage of dollar clearing system

The Hong Kong Monetary Authority launched the final phase of its US dollar payment system on Monday, offering paper cheque clearing and delivery versus payment settlement of US dollar denominated debt.

Hayami says to supply ample funds for RTGS start

Bank of Japan governor Masaru Hayami said on Friday the central bank would supply ample funds to the money market to prepare for the adoption of the Real-Time Gross Settlement system on January 4.

Complete glossary of payment systems terminology

The Committee on Payment and Settlement Systems at the Bank for International Settlements has just published a comprehensive glossary of payment system terminology as a reference document for the standard terms used in connection with payment and…

Principles for financial plumbers

Payment systems, the "plumbing" underpinning international capital markets, aretoo often ignored. John Trundle from the Bank of England, who recently helpeddevise new standards for payment system safety, explains what changes areneeded in the latest…

Nigeria parliament urged to legislate on e-banking

The Nigerian National Assembly has been called upon to pass appropriate legislation that will address the problem of fraud and other peculiarities of electronic banking, if Nigeria must enjoy full benefits of e-banking.

Patil to head proposed SBI clearing corporation

R H Patil, former managing director of the Indian National Stock Exchange, is expected to take charge as the chairman of the proposed SBI Clearing Corporation for the money and foreign exchange market.

Basis for unified payment system in Russia

In December, the Interagency Smart Cards Commission will present a draft plan for putting together a unified payment system in Russia. The system will be based on the payment system of Sberbank, and the clearance and cash center of the central bank will…

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