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…
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's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.
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.
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.
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.
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.
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.
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…
The Vietnamese central bank has decided to remove all limits on domestic and international payment fees charged by banks.
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.
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.
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.
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.
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.
While throughput on TARGET payments is improving some banks are still ignoring rules which require them to make payments promptly.
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…
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…
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.
The Basel Committee on Banking Supervision just issued a revised version ofits guidance for supervisors on managing the settlement risk arising fromforeign exchange transactions.
Wendelin Hartmann is presented with a special issue of a German banking journal to commemorate many years service at the Bundesbank and as chairman of the Committe on Payment and Settlement Systems at the BIS.
Macedonia, like many other countries in Eastern Europe, is in the process of reforming its payment systems. It is tendering for IT systems.