Financial Stability
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…
BoT to ease regulations on e-money settlement
The Bank of Thailand said Wednesday it plans to ease restrictions on interbank electronic money transactions via its Bahtnet settlement system.
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.
Oman cenbank plans Electronic Fund Transfer system
Oman's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.
Bank urges balancing act over payments competition
The Bank of England has warned the UK government that its plans to increase competition in the payments business must be balanced by the need to preserve the stability of the financial system.
New payments system in Bosnia ready by Dec 31
In its monthly newsletter, the Central Bank of Bosnia and Herzegovina gives an update on its preparations for setting up a new payments system in Bosnia and Herzegovina.
Power strike won't affect payment systems-BOK
Money transfers and financial settlements will be unaffected by a strike threatened by Korea Electric Power Corp.'s union on Thursday, according to the Bank of Korea.
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.
Settlement agreement between Lithuania and Belarus
The heads of the central banks of Lithuania and Belarus have signed an agreement on the procedure for settling accounts among economic entities, the Bank of Lithuania reported.
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…
Vietnam central bank liberalises payment fees
The Vietnamese central bank has decided to remove all limits on domestic and international payment fees charged by banks.
Bank of Spain's disclosure for settlement systems
The Spanish central bank has now published a revised version of the responses to the disclosure framework for the Spanish CADE (CENTRAL DE ANOTACIONES, formerly SACDE), November 2000.
Italy MTS to adopt RTGS system soon
MTS SpA, Italy's secondary bond market operator, will soon adopt real-time gross settlement (RTGS) for bond operations to replace current end-of-day settlement, MTS deputy director general Ezio Dosa said on Wednesday.
Russia central bank to develop smart card market
Sergei Mikhailov, deputy director of the information systems department of the central bank, has announced that the bank is interested in developing the smart card market.
Liquidity gridlock feared from Japan's RTGS launch
Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.
BOJ commits to Jan 4 real-time settlement launch
Bank of Japan governor Masaru Hayami said on Tuesday the central bank would stick with the January 4 launch date for its real-time gross settlement (RTGS) system for government debt and money market transactions.
Target throughput improves; issues remain
While throughput on TARGET payments is improving some banks are still ignoring rules which require them to make payments promptly.
Turkish cenbank goes live with real-time DvP SSS
Central Bank of Turkey has gone live with new securities settlement system named ESTS (Electronic Securities Transfer and Settlement System) after three years of development. On October 31, the first day of use, 1,800 securities transactions were settled…
NBP discusses draft payment systems laws
Today the meeting of the National Bank of Poland's payment systems council, a consultative and advisory body of the central bank's management board, discussed draft laws that implement the basic regulations of the European Union in the area of payment…
The role of payment systems in systemic stability
In May this year there was a high-level payment system workshop held by the BIS' Committee for Payment and Settlement Systems in Mexico. The papers presented at that meeting have now been published.
Foreign exchange settlement risk
The Basel Committee on Banking Supervision just issued a revised version ofits guidance for supervisors on managing the settlement risk arising fromforeign exchange transactions.