FMI
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
PBoC names clearing banks in Thailand and Malaysia
Industrial and Commercial Bank of China will clear renminbi in Bangkok and Bank of China in Kuala Lumpur, the central bank announces
Canadians want more women on banknotes, poll shows
Bank of Canada’s banknotes should reflect more gender equality and a better celebration of women, according to the Canadians who participated in an online survey by the central bank
MEPs strike deal to cap card payment fees
European Parliament reaches agreement on limits to the fees banks can charge retailers for processing payments in a bid to lower prices and tackle perverse incentives
UK payments regulator may use powers to force innovation
Payment Systems Regulator emphasises its "strong" powers over industry and says it will not hesitate to use them if firms fail to collaborate on innovation
RBNZ takes next step towards replacing settlement systems
The Reserve Bank of New Zealand is seeking registrations of interest from potential vendors to replace its current payment and settlement systems, NZClear and Esas
Central Bank of Ireland urges households to spend 2.5bn copper coins on Christmas shopping
Bank warns local shops are running out of coins as people consign them to ‘jars and piggy banks'; says small change ‘better being spent or given to charity'
Euro Retail Payments Board warns of fragmented market for 'instant payments'
Stakeholder group sets up working streams on 'person-to-person' and contactless euro payments; chair Yves Mersch stresses importance of instant clearing services
National Bank of Ukraine to overhaul payments system
National Bank of Ukraine is upgrading its payments system with a view to widening its use; it is also exploring the use of mobile applications in making payments
Resource costs of Australian payments system down as percentage of GDP
Consumers face similar cost for credit and debit card payments despite higher cost of credit cards to the economy, RBA paper finds
Ethiopia still ‘under banked’ despite 34% increase in bank branches
National Bank of Ethiopia reveals large increase in bank branches in annual report; argues there is still a need to ‘further develop’ the financial sector
PBoC highlights ‘rapid’ growth of electronic payments
Quarterly report on payments in China says electronic payments, particularly mobile payments, grew significantly in Q3
Swift wins Australian real-time payments contract
Contract represents new direction for the financial messaging service, with the final platform expected to go live in 2017
Nepalese governor sets sights on regional capital market
Yuba Raj Khatiwada identifies market infrastructure and corporate bonds as two key areas for development as Asia works towards greater capital market integration
New payments regulator in UK may have uneasy relationship with BoE
Treasury committee highlights potential for conflicting objectives between newly formed payments regulator and the Bank of England; Tyrie says independence ‘pretty heavily circumscribed’
Malaysian banks will use cheque fees to incentivise electronic payments
To reduce the use of cash and cheques in the financial system, Bank Negara Malaysia is introducing a scheme whereby cheque fees will be used to incentivise e-payments
Rajan faults 'big borrowers' for eroding 'sanctity' of debt contracts in India
RBI governor calls for ‘change in mindset' where the ‘wilful defaulter' is ‘justly chastised as a freeloader' on hardworking people
BoJ’s Nakaso sees opportunities for payments innovation
Options on the table include 24-7 real-time payment systems, improved cross-border linkages and better financial messaging systems
Malaysian banks working on a Swift rulebook for Islamic transactions
A Swift rulebook ‘will provide an efficient platform for the exchange of messages for Islamic finance transactions’, says governor of Bank Negara Malaysia