FMI
ECB’s Mersch explores construction of instant payments services
Yves Mersch says Eurosystem envisages services being constructed on scheme, clearing, and settlement layers, and considers challenges involved in each
Cleveland Fed’s Mester lays out ‘considerable progress’ on payment systems initiative
Loretta Mester tells New York conference of progress in appointing leaders and accumulating members for faster payments and secure payments task forces
CLS starts settling Hungarian forint payments
After two years of preparation and testing, the forint joins the CLS universe
Bank of Israel smoothes way for new credit card players
Central bank moves to ease the process of entering the merchant acquiring and credit card market; aims to streamline licensing and expand ownership options
EBA launches consultation on credit value adjustment risk
The European Banking Authority launched a public consultation on regulating credit value adjustment risk; aims to create a ‘common European approach’
Bank Indonesia to update major payment platforms
Central bank will launch new versions of three systems, including the RTGS platform, on November 16, with a view to improving liquidity management
ECB aims for single policy on ‘options and discretions’ with new proposals
Central bank publishes draft documents aiming to create a single policy for the exercise of options and discretions under banking law in financial systems it regulates
Cuba: coming in from the cold
The Central Bank of Cuba faces a number of challenges should the country press ahead with economic reform and reintegration in the global financial system
Book notes: Civic Capitalism, by Colin Hay and Anthony Payne
A book that espouses redesigning capitalism into 'civic capitalism'
UK authority calls on banks to help tackle cyber crime
UK National Crime Agency calls on banks to collaborate with authorities to reduce fraud
Italian NPL legislation should shorten bankruptcy proceedings, paper says
Legislation recently passed by the Italian parliament should shorten bankruptcy proceedings and may stimulate a private market for Italy’s non-performing loans, a Bank of Italy paper argues
Different economies need different types of structural reform, IMF paper finds
Economies at different levels of development need different types of structural reform, a policy paper by the International Monetary Fund says
Europe lags US in leading global financial reform, economist says at ECB event
The European Union no longer leads global efforts at financial reform, argues French economist Nicolas Véron; eurozone nations have too many seats on global reform bodies, he adds
CLS sets go-live date for Hungarian forint
CLS and Hungary's central bank launched the forint project in February 2014
ECB to log bank loans to firms above €25,000 from 2018
New system will log all loans by eurozone commercial banks to firms above a value of €25,000 starting in March 2018; ‘AnaCredit’ likely to expand coverage to natural persons
Eurozone banking sector less reliant on central bank funding, ECB report says
Commercial banks relied less on central bank financing in 2014 and only achieved ‘moderate’ extension of credit; shadow banking sector becomes increasingly important
RBA sees no ‘financial stability case’ for repo CCP
Central bank decides not to actively encourage the (re)creation of a repo-focused central counterparty, but says it will work with the industry if it wants to take the project further
Vocalink to deliver ‘new generation’ real-time payments in US
CEO David Yates tells Central Banking there will be unique challenges to delivering real-time payments in the US, as Vocalink is chosen to provide software behind faster payments project
Hungarian central bank to bid for country’s stock exchange
Hungary’s central bank is in talks with Austrian banks to buy a majority shareholding in the country’s stock exchange
National Bank of Kazakhstan plans overhaul of interbank card payment infrastructure
Central bank looks to create new infrastructure for interbank card payments with the aim of improving the efficiency with which banks plug into clearing systems
South-eastern European banking supervisors agree to co-operate with EBA
Six supervisory agencies agree to share information with European Banking Authority
China confirms launch of QDII2
Scheme allowing Shanghai-based individuals to invest overseas agreed in meeting chaired by Premier Li Keqiang this week
RBA’s Richards gauges sentiment on card payments regulation
Head of payments policy highlights areas of ‘common ground’ in response to issues paper on card payments regulation, but also some ‘real differences’ between stakeholders
Sarb publishes first draft of forex code of conduct
New code of conduct proposed for South African foreign exchange over-the-counter market, though official review finds no evidence of malpractice