FMI
Russia says Bitcoin users will be suspected of money laundering
Central Bank of Russia joins roster of monetary authorities warning citizens off virtual currencies - but goes one step further in saying its use is against the law
ECB demands ‘fast adoption’ of Sepa legislation
European Commission proposal to extend the deadline for Sepa migration by six months has caused ‘confusion’ in the markets, according to the ECB
Bank of England launches new liquidity provision framework
First ‘indexed long-term repo operations' under framework unveiled in October scheduled for early February; will provide ‘more liquidity at cheaper rates, longer maturities against wider range of collateral'
Shanghai Clearing House becomes fifth in Asia to start OTC clearing
First onshore renminbi interest rate swaps cleared in China; two international banks sign up to new clearing service
Dutch paper finds Germans ‘substantially more cash oriented’ than other nationalities
Researchers consider why cash is still ‘heavily used’ for low-value payments in Europe; attributes German consumers' continued use of cash to ‘precautionary’ reasons
ECB unveils new €10 note
Yves Mersch presents the design of the new €10 banknote in Frankfurt; equipped with new security features to help keep rising counterfeit rates in check
MAS says lack of global regulatory standard for virtual currencies cause for concern
Singapore's monetary authority and chief financial regulator singles out the likes of Bitcoin as a potential conduit for illicit activities, in survey on money laundering and terrorism financing
Payments and clearing technology provider of the year: VocaLink
VocaLink has excelled by building the infrastructure for a new accounts switching service in the UK and exporting its pioneering Faster Payments platform overseas
European Commission pushes for Sepa deadline extension
Michel Barnier defies the Eurosystem by pushing for a six-month extension to the February 1 deadline for migration to the Single Euro Payments Area
RBI committee wants a bank account for every adult by 2016
A report on financial inclusion released by the Reserve Bank of India calls for all residents to have a universal bank account, and an electronic payment point within a 15-minute walk
Singapore intensifies efforts to cut banknote waste
Monetary Authority of Singapore unveils a social networking campaign that encourages the public to refrain from giving brand new banknotes to each other at Chinese New Year
Frontloading fears remain despite Esma guidance
Uncertainty has been narrowed by Esma Q&A, but dealers say they will still face pricing headaches
National Bank of Georgia launches contest to design currency symbol
Former Soviet nation follows Russian example in seeking suggestions for a currency symbol; winning entry to be selected next month by a commission set up for that purpose
Major international banks join UK's high-value payment system
BNY Mellon, ING Bank, Northern Trust, BNP Paribas and Société Générale have until now participated in Chaps indirectly, in an arrangement criticised by the Bank of England
Two-thirds of US non-cash payments by card, but cheques persist
Payments by credit and debit cards grew nearly 8% annually between 2009 and 2012, according to new Fed data; 122.8 billion non-cash payments made in 2012, worth $79 trillion
Macedonian central bank launches financial literacy drive
Joint initiative with the government and other state agencies aims to improve understanding of, and involvement in, the financial system; agencies will also seek to promote cross-border co-operation
ECB unveils new Euro Retail Payments Board
New board will be the driving force behind retail payments integration in Europe; will replace the Sepa council and take a more proactive approach than its predecessor
Bank of England promises diversity on new polymer banknotes
Public consultation revealed 87% of Brits in favour of switching to polymer banknotes; Bank of England also unveils a new system for selecting historical characters to feature on its notes
Bank of Tanzania launches financial inclusion framework
East African country is aiming for 50% formal financial inclusion by 2016, up from 22% today; strategy will tackle supply side, demand side and structural obstacles
Liquid liabilities to become more expensive as a result of Basel III, says RBA's Debelle
New liquidity rules will make liabilities with less than 30 days to maturity more costly for banks to provide, making it a more expensive liquidity service for customers to obtain, says RBA assistant governor
ECB launches online competition to familiarise citizens with new €10 banknote
Players have to uncover four security features and also guess the number of euro banknotes in circulation in the euro area on December 31, 2013; new note unveiled on January 13
EBA warns of Bitcoin risks
European Banking Authority tells Bitcoin users to invest only what they can ‘afford to lose’ as not much can be done about exchange failures or digital theft
Rajan outlines medium-term 'pillars' for improving India's financial system
The five pillars comprise a 'clarified' monetary policy framework and a more liquid sovereign bond market; nation would 'benefit enormously' from the elimination of 'poorly targeted' subsidies
HKMA launches ‘hassle-free’ electronics payments platform
Hong Kong Monetary Authority says the platform will enable the general public to receive, manage and schedule electronic payments in three different currencies through one portal