Financial Stability

RBA on payments system reform in Australia

In a speech on 'Payments System Reform: The Australian Experience' given on 6 May, Philip Lowe and Ian Macfarlane of the RBA said it is fair to say that having specific payment system legislation with responsibility assigned to the central bank has led…

Asian central banks set to gather for ACU meeting

Heads and representatives of central banks from ten countries, including India, will visit Pakistan later this month to attend an annual meeting of the Asian Clearing Union, an official of the State Bank of Pakistan said on Tuesday 3 May.

Fed's Roseman on developments in payment systems

In testimony on 'Recent developments in the payments system' given on 20 April, Louise Roseman of the Federal Reserve said the payments system in the United States is continuing to change and become increasingly efficient. However, the shift away from…

ECB assessment of securities settlement systems

The Governing Council of the European Central Bank updated the assessment of securities settlement systems (SSSs) eligible for the settlement of collateral for Eurosystem credit operations, on Thursday 21 April.

ECB's Tumpel-Gugerell on payment systems

In a speech on 'The need for regulatory involvement in the evolution of payment systems' given on 25 April Gertrude Tumpel-Gugerell of the ECB said euro zone banks are moving too slowly on the integration of payment systems, which would allow consumers…

T&T launches improved website

The governor of the Central Bank of Trinidad and Tobago, Ewart Williams, has launched the bank's redesigned website, highlighting its improved functionality, data access, faster download capability, smoother navigation and printer- friendly versions.

South Korea plans banknote redesign

The Bank of Korea said Monday that it will begin issuing currency bills with new security features next year, to combat an explosion of counterfeit banknotes.

Atlanta Fed's Barron on payment systems

In a speech on 'New remedies for a changing world of payments' given on 21 March, Patrick Barron of the Federal Reserve Bank of Atlanta said it is notable that the number of electronic payment transactions in the United States - for the first time -…

RBA's Macfarlane on Gresham's Law of payments

In a speech on 'Gresham's Law of payments' given on 23 March, Ian Macfarlane of the Reserve Bank of Australia said one of the longer term aims of the RBA's reforms was to reduce the distortions in the payments system caused by interchange fees.

St Louis Fed's Central Banker, Spring 2005

The St. Louis Fed's Central Banker magazine for Spring 2005 has been published. The latest edition contains an article which reports that for the first time in history, Americans are favouring electronic payments in greater dollar amounts than checking…

ECB's E-payments in Europe conference summary

The European Central Bank held a conference on "E-payments without frontiers" on 10 November 2004. A detailed summary of the event was published by the ECB on Tuesday 15 March, together with documentation of the individual presentations by speakers.

RBI constitutes payment systems Board

The Reserve Bank of India said on Thursday 10 March that it has constituted a Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) as a Committee of its Central Board.

RBA's Lowe on reform of the payments system

In a speech on 'Reform of the payments system' given on 2 March, Philip Lowe of the Reserve Bank of Australia said the reform process has been going on for a number of years and we are not yet at the end of the road.

RTGS & hybrid payment systems: a comparison

This Bank of England Working Paper published on Tuesday 1 March contrasts Real-Time Gross Settlement and hybrid payment systems that are based on payment offset, using a two-period, multi-bank model. It finds that hybrid payment systems outperform RTGS…

Zimbabwe plans new currency next year

Zimbabwe will introduce a new currency next year, phasing out bank notes introduced two years ago as a stop-gap measure to ease critical cash shortages across the country, a government daily reported on Wednesday.

Museum of Australian currency notes

The Reserve Bank of Australia has opened from 1 March a Museum of Australian Currency Notes on the ground floor of its Head Office in Sydney.

Report on payment systems in accession countries

The European Central Bank published the latest addendum to the report entitled "Payment and securities settlement systems in the accession countries" (second edition) on Monday 28 February.

Interview: Seung Park

The governor of the Bank of Korea discusses reserve management, central bank independence and closer cooperation in East Asia in conversation with Robert Pringle.

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