Financial Stability

RBI spells out centralised cheque clearing system

The Reserve Bank of India (RBI) has detailed plans to set up a centralised clearing house system to provide an interface for image based inter-bank cheque truncation between presenting and drawee banks.

Safer, smarter, US $50 bill issued

Newly redesigned $50 notes arrive at banks beginning Tuesday 28 September ready to make their way into circulation and consumer wallets. Today marks the day the Federal Reserve System distributes the new note to banks and thus into the public's hands.

3rd SEACEN payment systems meeting ends

The 3rd Meeting of Southeast Asian Central Bank (SEACEN), Directors of Payment and Settlement System and the 3rd SEACEN-CPSS course on `Payment and Settlement for Emerging Economies' ended with a dinner at The Empire Hotel and Country Club in Brunei last…

Revisions to Fed's policy on payments system risk

The Federal Reserve Board announced on Thursday 23 September that it has revised its Policy Statement on Payments System Risk (PSR policy) concerning interest and redemption payments on securities issued by government-sponsored enterprises (GSEs) and…

ECB's Tumpel-Gugerell on card payments

In a speech on 'Card payments and the European financial integration' given on 21 September, Gertrude Tumpel-Gugerell of the ECB said beyond its role of facilitator, the ECB intends to strengthen its oversight policy in the area of retail payment systems…

Russia cb prepares for world-class infrastructure

At a strategic meeting on June 23, 2004 in St. Petersburg, Russia, Michail Senatorov, Deputy Chairman of the Russian Central Bank, and Lazaro Campos, Member of the SWIFT Executive Committee, signed a Memorandum of Understanding (MoU) in which the bank…

Reform of card payment systems in Australia

Following a decision by the Payments System Board, the Reserve Bank of Australia on Thursday 9 September designated the EFTPOS debit card payment system in Australia as a payment system under the Payment Systems (Regulation) Act 1998.

ECOWAS changes launch date for Eco

The governor of the Central Bank of Nigeria, Professor Charles Soludo, said on Wednesday 8 September that the launch date of ECO, the proposed West African common currency, would be extended beyond 1 July, 2005.

US bank note experts to visit Taiwan

The Central Bank of China (CBC) has invited experts from the United States to help domestic banks dealing in foreign currency exchange to detect forged U.S. bills, CBC officials said on Monday 6 September.

RBI launches new trading system

The Reserve Bank of India (RBI) is set to launch electronic anonymous screen-based trading in government securities on the Negotiated Dealing System (NDS).

HP and CMA to deliver payment system to Montenegro

HP and CMA Small Systems AB announced on Friday 6 August that they will provide the Central Bank of Montenegro with a new automated inter-banking payment system, supporting Montenegro's economic momentum-building efforts.

Sri Lanka's fin min denies signing banknotes

Sri Lanka's central bank has been forced to hold back huge quantities of new banknotes because Finance Minister Sarath Amunugama publicly denied signing them, an official said on Thursday 29 July.

SAMA awards ATM contract

CyberGuard Corporation, a technology leader in network security, announced Thursday that the Saudi Arabian Monetary Agency (SAMA) has selected CyberGuard's premium firewall/VPN appliances to provide the information security for a new ATM network.

India introduces mobile ATM

The State Bank of India on Saturday 11 July rolled out its first mobile ATM to improve accessibility to customers in remote areas and tourist locations in the country.

Viet Nam sees increased used of non-cash payments

Non-cash payments have become more popular in Viet Nam, accounting for 79 per cent of all payments at banks in the first six months of the year as against 77 percent in 2003, according to VNA.

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