FMI
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
Riksbank study questions status of cash as legal tender
Researchers warn ‘lock-in effect' may inhibit market participants from exploiting more efficient payment methods
BoE picks Deloitte to review RTGS failure
Consultancy firm to conduct investigation into outage in real-time gross settlement system that saw system break down for several hours
Riksbank deputy assesses changing payments market
Cecilia Skingsley warns capacity of mobile networks is not always sufficient to manage ‘temporary peaks' in activity; also addresses ‘changeover' of banknotes and coins
Central Bank of Ecuador trials mobile payments
A group of 800 people are testing the platform as part of pilot program; Central Bank of Ecuador hopes to tackle financial inclusion with the new technology
New Zealand’s banknotes get first upgrade since 1999
Reserve Bank unveils a ‘brighter, more modern look’ for its banknotes, and a host of new security features; net cost will be NZ$40 million over five years
Bundesbank’s Nagel wants Frankfurt clearing house
Executive board member details benefits to German economy from having an RMB clearing bank, and sets out plans to form a clearing house in the future