FMI
MAS deputy reveals plans to tighten AML/CFT regime
Ong Chong Tee says Monetary Authority of Singapore will require banks to conduct wider assessments of money laundering and terrorism financing risks
Bank of Canada may ‘expand’ payments oversight
Deputy governor Lawrence Schembri says the central bank might be charged with the oversight of ‘prominent’ payment systems as well as those that pose systemic risks
France and Luxembourg join race to become Europe's renminbi hub
France and Luxembourg next in line for clearing banks after striking deals with PBoC over the weekend; French institutional investors also granted permission to invest in China
Lagarde says financial inclusion has key role in closing gender inequality gap
IMF managing director says women face extra cultural and educational hurdles in tapping into financial services, but financial inclusion can empower them
Zambia governor opens conference on financial inclusion for women
Michael Gondwe says deliberate policies and a long-term commitment will be needed to ensure financial inclusion for all Zambia's women
Riksbank brief: Virtual currencies 'essentially positive'
Digital money can make payments 'cheaper and more secure', argues staffer in economic commentary; risks mean virtual currencies should be assessed on a case-by-case basis
Central banks test ‘dry ice' banknote cleaning technology
Banks to test whether ‘supercritical' CO2 can rid notes of filth without damaging security features; central banks spend $10 billion to replace 150 billion banknotes each year
Serbia's slowing dinarisation expects boost from subsidised loan programme
A programme offering cheap dinar-denominated loans to the corporate sector should see use of the national currency bounce back, Serbia's central bank hopes
‘All pieces are in place' for co-ordinated regulation of European ABS, says Mersch
The various agencies in charge of regulating ABS in the EU should be able to co-ordinate their regulation of the asset class, Yves Mersch says
Economists worldwide find cash still used ‘extensively’
Economists from Australia, Austria, Canada, France, Germany, the Netherlands and the United States compare survey data on payments; find cash ‘has not disappeared’
Fed overhauls collateral requirements for discount window
The changes, including separate requirements for fixed-rate and floating-rate loans posted by depository institutions, could make it harder to obtain central bank liquidity
Riksbank sees improvement in interbank rate framework
A detailed examination of the 'Stockholm interbank offered rate' framework was launched in 2011 after several shortcomings were revealed
Danish faster payments system sees limited uptake
Danish central bank annual report on payments systems finds disappointing uptake of an offer to settle customer payments faster; says CPSS/Iosco compliance should be ensured
Target2 values drop by €150 trillion as ECB changes statistical methodology
European Central Bank excludes overnight deposits from data sample; values processed by Target2 drop from €643 trillion in 2012 to €493 trillion in 2013 as a result
Euro Retail Payments Board sets out work plan in wake of Sepa migration
The board creates two working groups in its first meeting; one on post-migration issues, the other on finding Europe-wide solutions for securing electronic mandates for direct debits
PBoC favours London as offshore RMB hub, says leading Chinese banker
The Chinese government and central bank 'think very highly' of London, says top Chinese banker who predicts the City will play a key role in renminbi internationalisation
EC tackling final questions on CCP resolution
The European Commission is drawing up proposals on the recovery and resolution of CCPs, but a number of tricky questions still have to be answered
MMA governor: Maldives has 'unprecedented opportunity' to put economy in order
Azeema Adam says the Maldives Monetary Authority is reviewing regulations in a bid to unburden country's financial sector
Islamic investors must expand out of real estate, says Bahraini central banker
Abdul Rahman Al Baker says it is critical for Islamic financial institutions to better understand clients' needs
Central Bank of Kuwait puts own building on new banknote
Banknote series unveiled yesterday will come into circulation on June 29; new features include raised print to help blind people tell which note they are holding
Governors launch East African Payments System
East African Community presents new market infrastructure and plans to boost currency convertibility; Kenyan governor sets out monetary policy priorities for the region
Mersch: regional currencies are flawed
ECB executive board member warns that regional money can hamper trade between different parts of the country, while costing commercial partners the opportunity to grow
CLS says it will adhere to US sanctions on Russia
The ruble looked set to become the 18th currency to be settled through CLS, and while both the CBR and the industry utility are committed to the deadline, political uncertainties remain
Central bank support for CCPs and TRs
The wider use of central counterparties and trade repositories may pose challenges for central banks. Carlos León, Clara Machado and Ricardo Mariño explain the tactics central banks are adopting.