FMI
RBA strikes clearing deal with PBoC
Australian authorities agree clearing arrangements and RQFII quota with Chinese counterparts; announced in wake of G-20 summit and follows similar Canadian deals
Payments technology progressing in ‘leaps and bounds,' says Canada deputy
Carolyn Wilkins says Bank of Canada is keeping a close eye on risks posed by new forms of electronic money and modernising its oversight framework for payments
RBI wants foreign banks to offer commercial services
R Gandhi, deputy governor of the Reserve Bank of India, argues the local economy needs foreign banks to offer commercial services, ‘to ensure further penetration of banking activities’
Poll: Central bankers favour clampdown on bitcoin
Latest Central Banking poll shows most central bankers favour regulating or banning virtual currencies, despite most institutions so far just issuing warnings or advice
China and Canada sign deal to set up first RMB clearing bank in North America
Countries also agree on $8.2 billion RQFII quota as part of major bilateral trade initiative; PBoC also signs MoU with Bank Negara Malaysia to set up RMB clearing bank in Kuala Lumpur
BoJ team surveys payment innovation landscape
Central bank lays ground for retail payments innovation in Japan with survey of what has been tried elsewhere; highlights different forces driving change in each country
PBoC names first RMB clearing bank in Middle East
Doha branch of ICBC named following several deals inked between PBoC and Qatar Central Bank yesterday, including swap line and RQFII quota
ECB’s Godeffroy sees clear path to 2015 T2S launch
Director-general leading Target 2 Securities project says testing is largely going to plan; platform to create ‘survival of the fittest’ environment for European CSDs
ECB enlists asset managers to carry out ABS programme
Deutsche Bank and State Street among private sector actors that will help spur credit creation in eurozone following ‘competitive' tender procedure; no fees disclosed
Stevens exerts pressure on Australian payments industry
RBA governor says the central bank would be ‘duty bound’ to use its regulatory powers to bring about change if the market does not do so of its own free will
Central Bank of Iraq updates 5,000 and 25,000 dinar banknotes
The central bank says the new banknotes will coexist with their predecessors; most notable change sees addition of transparent window on 25,000 note
Uruguay digitises cheque clearing in payments overhaul
Central bank announces that all cheques will be cleared electronically – part of a payment system reform that will see the promotion of mobile banking
National Bank of Denmark to outsource production of banknotes and coins
The National Bank of Denmark will outsource all of its printing and minting services to an external supplier in 2016, with an estimated saving of $17 million by 2020
Dollar and renminbi can coexist as global currencies, Eichengreen says
Bank of Korea paper finds that ‘networks are open and several international currencies can coexist’, suggesting the dollar and the renminbi will share the role in the future
Carney launches review into RTGS failure
Independent review will look into ‘technical issue’ that knocked RTGS system out of operation yesterday, and consider the central bank’s response
Bank of England resumes settlement after 'technical issue’
UK’s high-value payment system was ‘paused’ for several hours today, but is now back up and running; central bank extends opening hours to deal with backlog
CPMI-Iosco report recommends tools for recovering FMIs
Report lays out toolkit for maintaining critical services and restoring stability in the event a financial market infrastructure comes close to collapse
Colombian paper analyses financial networks
Working paper finds central financial institutions ‘tend to overlap across financial networks, thus their systemic importance may be even greater than envisaged’ in alternate models
Bank of Canada will consult public on future banknote designs
Bank of Canada launches a nationwide consultation on banknote design principles, after a report concluding that Canadians should have increased participation in the process
Swift resists ‘political pressure' to disconnect Russian and Israeli banks
Brussels-based cooperative says calls for exclusion undermines ‘systemic global character' of its services; previously condemned EU parliament resolution in September
RBA’s Stevens lauds ‘substantial’ progress towards real-time payments
Reserve Bank governor says Australia is now closer to delivering ‘real-time, data-rich payments’; first meeting of the Australian Payments Council expected this month
Central Bank of Nigeria implements ‘sanctions screening' service to combat financial crime
Swift service helping banks meet global best practices on financial crime will be functional in January; step towards realising 2020 ‘payment system vision'
National Bank of Denmark narrows range of collateral it accepts
Financial market ‘normalisation' provides ‘opportunity' to omit assets made eligible after crisis to keep Danish banks from borrowing in euros
Bundesbank unveils new card clearing infrastructure
Bundesbank and EBA Clearing launch new XML-based infrastructure for card clearing; payments chief says it allows banks to ‘leverage’ their Sepa investments