Financial Stability

Duisenberg at a discount

Despite a splendid send-off in October, including a blizzard of awards from European countries, the image of Wim Duisenberg, the former president of the ECB, is starting to fade, CentralBankNet can exclusively reveal.

2002 statistics for CPSS countries payment systems

This annual BIS publication provides data on payments and payment systems in the CPSS countries: Belgium, Canada, France, Germany, Hong Kong SAR, Italy, Japan, Netherlands, Singapore, Sweden, Switzerland, United Kingdom and the United States.

Trinidad and Tobago select RTGS provider

The Central Bank of Trinidad and Tobago has awarded a contract to LogicaCMG to implement a Real Time Gross Settlement (RTGS) system and Government Securities Settlement system, reports PRNewswire. The governor of the central bank said, "The…

Kenyan inquiry hears of spying claims

The commission inquiring into the Goldenberg affair in Kenya heard testimony from a witness this week that a sophisticated intelligence system was in place at the central bank of Kenya, according to a report by The Daily Nation. The central bank's head…

RBI to set up new payment board

The Reserve Bank of India is to set up a board for payment and settlement systems to provide efficient governance and best practices in risk management, reports the Business Standard. This would ensure that all payments and settlements in the country are…

The future of Europe's payments: Target 2

The Eurosystem's payment system - Target - is set for a restructuring which will place emphasis on consolidation and cost effectiveness of the existing linked national payment systems. In this brochure the ECB outlines what Target 2 will require of…

BGN 100 banknote introduced in Sofia

The governor of the National Bank of Bulgaria Ivan Iskrov introduced the first BGN 100 banknote in Sofia on Wednesday 3 december, according to a report by Sofia Morning News, with deputy governor Tsvetan Manchev explaining that the note will make cash…

New Hong Kong banknotes

The Hong Kong Monetary Authority has announced that its new series of HK$100 and HK$500 banknotes will be put into circulation from 15 December.

US Fed to expand ACH payment system to Latin Am

Atlanta Fed officials have said that the Federal Reserve's ACH payment system will be expanded to include a Latin American country in 2004, according to Business News America, but the Atlanta retail payments office did not reveal the country due to…

Bulgarian national bank issues golden coin

The National Bank of Bulgaria is to issue a commemorative golden coin "The Blessing Virgin Mary" on Monday 1 December, according to the Sofia Morning News. 20,000 of the coins will be issued with nominal value BGN 20.

De La Rue plans factory closure in UK

Bank note printer De La Rue plans to sell two of its UK factories after demand for UK personal cheques, export stamps and coin bags all slumped, according to a report in The Scotsman. A spokesman said: "It's hard to predict how long cheques will survive,…

Polish central bank's freedom threatened

The governor of the National Bank of Poland (NBP) Leszek Balcerowicz has said that the central bank's independence is threatened following the adoption of an amendment that would require the NBP to print money, according to AFP. "A central bank should be…

Slovakia to take small coins out of use

The National Bank of Slovakia is to remove from circulation 10 and 20 halier coins over the next five years, The Slovak Spectator reported. The NBS said the small haliers are too expensive to produce.

Irish go back to 'hoarding' coins: central bank

Speaking at the issue of 40,000 commemorative coin sets, the central bank of Ireland's head of currency Hugh O'Donnell said Irish people have reverted to their old habits of 'hoarding' coins.

Bangladesh Bank circulates new notes

Bangladesh Bank will print 1,155 million new notes by June, 2004 to help people replace torn and soiled notes, The Daily Star reported. People have been crowding the BB's exchange counter for the last couple of days to replace torn and soiled notes with…

BSP printing plant: More than just about money

This article in the Philippine Daily Inquirerlooks at the Bangko Sentral ng Pilipinas (BSP) bank note printing operations. The BSP owns the printing, minting and refining facility it calls the Security Plant Complex (SPC), an imposing structure…

ECB considers one-euro, two-euro notes

Following requests from some countries, including Italy, the European Central Bank said on Tuesday 25 November it was considering introducing one-euro and two-euro notes, according to Expatica. If agreed, it is expected to take several years from design…

Mexico awards software contract to ERAS

Mexico's central bank has awarded a contract to Miami-based bank software provider ERAS to drive a browser-based image clearing system for transmitting check items in Mexico, reports Business News Americas. The central bank's clearing arm CECOBAN will…

Intro of electronic funds transfer cheers BNZ

The central bank of Zambia's Currency and Payments Systems Director Morris Mulomba has said despite the important role cash plays in the economy, it is neither prudent nor convenient to pay for goods using cash, according to Zambia News Agency. He urged…

Riksbank makes statement on 'banknote discrepancy'

Sveriges Riksbank, the central bank of Sweden, released a statement on Friday 14 November regarding a discrepancy which had been discovered in a delivery of new banknotes from Crane AB to the Riksbank's subsidiary.

Zimbabwe clamps down on illegal FX

Police in Zimbabwe are stopping motorists with road blocks as part of a crackdown on illegal foreign currency trade, Reuters reports. The Reserve Bank of Zimbabwe has also set up a unit to probe the flow of local bank-notes to neighbouring countries…

RBA interchange fees for credit cards lowered

The Reserve Bank of Australia said on 31 October that Bankcard, MasterCard and Visa credit card schemes have introduced lower interchange fees for credit card transactions in Australia.

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