Financial Stability
RBNZ countdown to smaller lighter coins
On 31 July the current 50, 20, and 10 cent coins will be replaced with smaller and lighter coins, and the 5 cent coin will begin to be phased out, the Reserve Bank of New Zealand said on Monday 10 July.
Dutch central bank wants better payment system
The Dutch central bank has called for a more efficient payment system and is considering a set of measures to encourage people to pay more by electronic means, MarketWatch reported.
Comment: Dutch banks lose on payments
A recent report by McKinsey, a consulting firm, finds that Dutch banks are losing money on processing payments. Moreover, the report suggests that margins will be under even greater pressure as banks have to implement a plethora of new regulations.
Papademos on price stability & financial stability
In the speech 'Price stability, financial stability and efficiency, and monetary policy' given on 7 July Lucas Papademos of the ECB said transparency in monetary policy is important for financial stability and financial efficiency.
EU Parliament wants information on SWIFT
The European Parliament adopted a resolution on Thursday 6 July asking EU governments, the Commission and the European Central Bank to explain what they know about the SWIFT agreement.
ECB considers new securities settlement service
The European Central Bank said Friday 7 July it is considering setting up a new service for securities settlement in the eurozone. Through the new system, the ECB said it aims for synergies and harmonized settlement of securities transactions in the euro…
Comment: LCH.Clearnet chief departs
After months of speculation that his days were numbered, David Hardy resigned as chief executive of LCH.Clearnet on 5 July. The announcement was met with an air of inevitability. The episode raises some fundamental questions about the European clearing…
Garganas on regional financial stability
In the speech 'Regional financial stability around the Eurozone' given on 1 June Nicholas Garganas of the Bank of Greece said it is important to recognize that, as the financial systems of South-Eastern European countries are liberalized and their…
ECB paper on financial stability challenges
The ECB Occasional Paper 'Macroeconomic and financial stability challenges for acceding and candidate countries' reviews macroeconomic and financial stability challenges for acceding (Bulgaria and Romania) and candidate countries (Croatia and Turkey).
Knight on financial stability and globalisation
In remarks on Frederick Mishkin's paper 'Financial stability and globalisation: getting it right' given on 8 June Malcolm Knight of the BIS said highlights a number of dilemmas that countries face when seeking to embrace globalisation.
ANALYSIS: The irresistible rise of e-trading
Technological innovations are making electronic trading the method of choice - even in assets where floor-based trading looked set to dominate. Resisting technology can prove costly for the world's more established exchanges.
BIS' White on financial globalisation
In the speech 'Financial globalisation' given on 19 June William R White of the BIS said the globalisation of financial markets provides both enormous opportunities and enormous challenges.
Consultation paper on Payments System Risk Policy
The Federal Reserve has published a consultation paper to seek information from financial institutions and other interested parties on their experience in managing intraday liquidity, credit, and operational risks relating to Fedwire funds transfers and…
Comment: Passing the buck
The current outcry over American intelligence officials' access to private information linked to international money transfers has raised some thorny issues over who regulates the international messaging and financial telecommunications group, SWIFT.
The IMF's balance-sheet and credit risk
The authors of this Bank of Canada Working Paper examine the characteristics of International Monetary Fund (IMF) lending from the 1960s to 2005. They find that there has been an increase in portfolio concentration and that lending terms have effectively…
Reserve Bank of Fiji chooses LogicaCMG system
The Reserve Bank of Fiji (RBF) has contracted with LogicaCMG for the supply and implementation of an interbank real time gross settlement (RTGS) platform.
Bank of Canada Financial System Review, June 2006
The Bank of Canada has published its semi-annual June 2006 Financial System Review on 15 June. The likelihood that a shock would have a significant adverse impact on the Canadian financial system remains small, according to the Report.
Ingves on regional financial sector assessments
In the speech 'Can regional financial sector assessments provide additional values to the EU countries?' given on 13 June Stefan Ingves of the Sveriges Riksbank said the whole FSAP process was created to meet a specific purpose: to reduce the incidence…
New global note arrangement for debt securities
The ECB confirmed Monday 12 June that the so-called New Global Note (NGN) arrangement for international debt securities is in compliance with the Eurosystem's Standards for the use of EU securities settlement systems in ESCB credit operations.
ECB's Tumpel-Gugerell on payment systems
In the speech 'Drivers for change in payment and securities settlement systems' given on 9 June Gertrude Tumpel-Gugerell of the ECB said exploiting technological innovation can be an important means of saving costs, which is a pressing need in the…
ECB publishes SIPS report
On 31 May 2006, the Governing Council of the European Central Bank (ECB) approved the "Business continuity oversight expectations for systemically important payment systems (SIPS)" report (published Friday 9 June).
ECB's Tumpel-Gugerell on SEPA
In the speech 'What is the outlook for the Single European Payments Area (SEPA)?' given on 7 June Gertrude Tumpel-Gugerell of the ECB said the project is on track and many hands are needed for making the SEPA vision reality.
Launching of Bloomberg e-bond trading system
With the support of the Central Bank of Sri Lanka and the Primary Dealer community, Wednesday 7 June, Bloomberg officially launched its e-bond trading system in Sri Lanka.
Norges Bank Financial Stability Report No.1, 2006
The central bank of Norway, Norges Bank, published its twice yearly Financial Stability Report 1/2006 on 6 June. The overall outlook for financial stability is considered to be satisfactory, said deputy governor of Norges Bank Jarle Bergo.