FMI
ECB revisits virtual currencies in new report
Research concludes virtual currencies do not pose ‘material risk’ to central bank operations in eurozone, but could if they become more widely used or entwined with the real economy
Angolan central bank rejects public designs for new coins
Applicants failed to meet the requirements of the competition launched for the design of two new coins. The National Bank of Angola will now develop the motifs of the 50 and 100 kwanzas
RBI director calls for ‘strong law’ against cyber crime
A strong law help increase the confidence of the average person on the street in using technology in financial transactions, argues RBI executive director
First CPMI-Iosco peer review finds gaps in trade repository principles
Peer review of Principles for Financial Market Infrastructures in Europe, Japan and the US finds jurisdictions have made good progress with CCPs, but gaps remain among trade repositories
More reforms needed to tackle CCP risks, warns IMF paper
Significant risks remain despite efforts to improve the resilience of central counterparties, IMF working paper warns; direct access to central bank facilities would help
Swift in talks with Fed and ECB on real-time payments
Swift’s Juliette Kennel and Carlo Palmers talk to Central Banking about the company's leap into real-time payments in Australia, and discuss launching similar systems in other countries
Riksbank unveils new series of notes and coins
Majority of Sweden’s banknotes and coins to be updated by the end of 2016; new 20 krona note to be introduced and two krona coin to re-enter circulation
Australia opts for ‘tactile’ notes to assist the visually impaired
Australia follows Canada in offering tactile features on polymer banknotes despite apparent rejection of the idea by the Bank of England
Justin Lin on China, economic growth and the international monetary system
Former World Bank chief economist on why a multiple currency system could increase monetary instability, China should be wary of full capital reform and infrastructure investment will boost growth
Pakistan targets automated cash management in five years
State Bank of Pakistan aims to automate cash management and urges commercial banks to follow suit; deputy governor says it will help ensure only clean and genuine notes circulate
Rosengren says cyber criminality could turn people to ‘less efficient' payment options
Boston Fed president says central banks ‘essential' to discussion on cyber security at Basel Committee conference in Cape Town
Central Bank of Nigeria sets up steering committee on financial inclusion
Committee comprising central bank governor and finance minister is tasked with coordinating national strategy; will meet three times per year and approve annual reports
Fed’s Powell: Virtual currencies ‘not ready’ for role in payments reform
Governor Jerome Powell says virtual currencies could play a ‘bigger role’ in the future, but are not yet ‘mature enough’ to contribute to the Fed’s faster payments initiative
IMF report says ‘time has never been more right' to reform securitisation markets
Staff report emphasises need to make securitisation practices more robust while spurring demand; calls for standardised classifications of underlying risk characteristics
Asean central banks to improve settlement transparency
Members of the Asean Central Banks’ Working Committee on Payment and Settlement Systems adopt principles to improve transparency for cross-border trade settlements
Fed challenges payments industry to get quicker and safer
New document sets out strategies for improving US payment system; Federal Reserve will only consider expanding role as service provider if private sector falls short
Swiss gain greater access to renminbi markets in new deal
SNB and PBoC ink deal on RQFII quota for Switzerland and establish renminbi clearing in the country; latest in a string of agreements aimed at renminbi internationalisation
Offshore renminbi clearing banks could face competition from 'superhighway'
As host countries play up significance of new clearing banks, questions emerge over whether they will become obsolete once Chinese ‘payments superhighway' comes into being
BoE’s Cunliffe wants better allocation of capital in Europe
Better functioning capital markets would encourage savings to be put to better use, allow greater risk sharing and provide alternative sources of finance, deputy governor says
Cuban central bank to issue three new large-value banknotes
Central bank plans to issue banknotes worth 200, 500 and 1,000 domestic pesos; the largest note currently in circulation is worth 100 pesos
Cash settlement shifts to central bank platform in Kenya
Cash settlement of equity and corporate bond transactions on Nairobi Securities Exchange now taking place on Central Bank of Kenya’s real-time platform
Central Bank of Nigeria eases rules for bank dollar holdings
Nigeria’s central bank has eased the rules for interbank dollar holdings in attempt to boost liquidity in forex trading market, but one FX strategist warns of ‘marginal impact’
Coins and notes with same value to circulate in Angola
Angola’s central bank will issue two new coins in November, of 50 and 100 kwanzas, which will circulate with equal denomination banknotes
No end in sight for cash payments, Canadian research finds
Despite its costs, cash remains a popular option among Canadians, with younger consumers and merchants showing the highest demand for cash