Payments
Most RTGS systems projected for upgrade within a year
Two in three RTGSs operating 13–16 hours daily to be upgraded within a year
Central banks value tokenisation for efficiency and security
Respondents see less value in crypto or stablecoin payments
Budget and RTGS operating expenses rise year on year
Share of central banks charging both fixed and varied fees for RTGS access grows
Most central banks operate RTGS seven to 12 hours daily
Respondents processed over $6 trillion via system in 2024
Number of non-banks with RTGS access rises year on year
Middle income central banks account for largest number of connections
Iran and Oman to establish ‘joint bank’
Central bank says new institution will help with financial settlement
Half of retail payment sectors saw diversification last year
Changes include regulations, technology and rate of participation
Two-fifths of central banks leave payment fees unregulated
Middle income institutions more likely to regulate prices than other respondents
Larger teams more likely to oversee payments networks
Most central banks have general mandate to safeguard all payment systems
Quarter of payments departments report resourcing issues
Average number of FTE employees increases year on year to 40
Russia’s neighbours work to enable digital offline payments
Central banks in Nordic and Baltic countries prepare back-up plans in event of major internet outages
Korean officials argue for stablecoin authorisation body
Central bankers warn of currency substitution and monetary policy risks
Iran launches second phase of payments link with Russia
Iranian stores to accept Russian bank cards via mobile app
Bank of Finland makes renewed case for instant payments system
Solution would strengthen national security, bank says
Nigeria simplifies documentation for pan-African payments system
Revised process will affect PAPPS payments of up to $2,000 for individuals and $5,000 for businesses
Next phase of BoE RTGS project aims for atomic settlement
New platform settled £778 billion on first day of operation, deputy governor says
BoE’s RTGS service update goes live
Renewal expands access to payments infrastructure, with increased focus on cyber resilience
BIS, ECB, BoE develop synchronised cross-border FX transactions
BIS says Project Meridian FX reduces liquidity, credit and settlement risk
Danish krone becomes fully integrated into Target
National Bank of Denmark becomes first non-eurozone central bank to join Tips and T2 systems
SNB to launch support facility for instant payment system
Swiss central bank aims to promote instant payments with new secured loans from 2027
Brazil to introduce instalment function for Pix
BCB also plans to allow merchants to collateralise loans with future receivables on platform
RBNZ opens payment system to non-banks
Second phase will accept applications from payment service providers and overseas deposit-takers
ECB ‘assessing’ bilateral link to India’s UPI – Cipollone
Board member says US promotion of stablecoins presents real risks for EM central banks
BoT says payment systems still in operation following earthquake
Powerful quake hits Myanmar and Thailand as Bangkok’s stock exchange suspends trading