FMI
Pakistan deputy wants new data protection laws for payments
Ashraf Mahmood Wathra welcomes the ‘innovative banking practices’ driving financial inclusion but says data protection must keep pace
Central Bank of Russia picks official rouble symbol
The Russian currency will now have an official symbol after an open design competition came down to a public vote between five designs
RBI's Joshi on the bank's wide-ranging strategies to raise financial awareness
RBI executive director says strategy is to raise financial literacy through initiatives like outreach visits and financial literacy centres, but also through 'comic books, plays and skits'
RBA paves way for new entrants in card systems
Reserve Bank of Australia wants to facilitate new entrants into Australia’s credit and debit card systems; plans to let MasterCard and Visa set the eligibility criteria
Malaysian deputy laments ‘price distortion’ between cheques and electronic payments
Muhammad bin Ibrahim says the $240 million spent on processing cheques by the Bank Negara Malaysia each year is a ‘huge and sheer wastage’ and could be avoided by more accurate pricing
National Bank of Belgium weighs reduction in one and two cent coins
Belgian central bank considers merits of allowing traders to round cash and electronic payments to the nearest five cents in a bid to render one and two cent coins ‘unnecessary’
MAS launches two-year technical assistance programme for neighbouring central banks
The Monetary Authority of Singapore will provide training activities and forums for 190 central bank officials from Cambodia, Laos, Myanmar and Vietnam between now and 2015
Philippine governor touts country's microfinance expansion
Amando Tetangco outlines ways in which the central bank has facilitated developments; says recent catastrophe underscores the need for 'microinsurance'
Financial literacy in France is correlated with political engagement, study finds
Working paper finds middle-aged men are the most financially literate demographic; little difference between different political orientations, but the disengaged score worse on the test
Design of Norwegian banknotes charts new waters
Norges Bank reveals upcoming banknote series will share a maritime theme, reflecting the country's 83,000km coastline; notes will not feature human portraiture
CLS raises £160 million capital from shareholders
Hefty capital raise completed last week to enable CLS to meet demanding new capital requirements and support future growth
Taiwan allows Chinese issuers in offshore RMB bond market
So-called Bao Dao bonds are expected to find a ready market eager for yield; offshore RMB bond market in Taiwan has seen just six issuances so far this year
New Zealand payment systems under review
Reserve Bank of New Zealand announces review of its two large-value settlement systems; expects to sanction ‘significant upgrades’ to both within the next four years
Deploying ‘leapfrog' tech in Africa is no easy task, finds CBP Forum
Delegates and speakers debate technology outsourcing, data, staffing, project management and international co-operation at inaugural Central Banking Technology Forum
Nigeria could ditch polymer banknotes after six-year pilot
The Central Bank of Nigeria is considering reverting back to paper banknotes after using polymer for the past six years; spokesperson says it has ‘not had a good experience’ with the plastic notes
ECB prepares ground for new €10 banknote next year
New €10 note will be the second in the Europa series after the launch of the €5 note this May; Partnership Programme launched today will seek to smooth its introduction among stakeholders
OTC derivatives reform contains ‘real world challenges' says Fed governor
Jerome Powell says worldwide reform efforts will turn OTC derivatives market infrastructure into a ‘pillar of strength in the next crisis' if implementation challenges can be overcome
Israeli annual report for bank customers could be first step to reduce transparency 'knowledge gap'
Bank of Israel supervisor pushes for banks to provide customers with tailored yearly reports; UK consultancy says future lies in 'single online portal' for all financial products
ECB launches public consultation on mobile payments security recommendations
The governing council of the ECB asks market participants to comment on draft recommendations intended to make mobile payments more secure; interested parties have until January 31 to weigh in
Malaysia central bank opens office in Beijing
BNM's newly established presence reflects growing trade and financial ties with China; governor also reveals new renminbi liquidity facility and MoU to establish cross-border collateral arrangements
ECB's Mersch touts securitisation of SME loans as way of boosting EU economy
Executive board member says second priority after assessing banks' balance sheets is to support lending to SMEs by strengthening capital markets
BoE chief cashier says renminbi clearing bank would be 'valuable addition' for UK
Chris Salmon says a renminbi clearing bank would be a valuable addition to the UK's financial infrastructure, though there are 'many opportunities and ways' to clear renminbi transactions
Dominican Republic seeks damages after printer loses 8,500 banknotes
Defective banknotes worth an estimated 17 million Dominican pesos disappeared from French contractor in July; detected in the Caribbean country earlier this month, central bank says
Taiwan upgrading payments tech in RMB push
A deputy governor at the Taiwanese central bank reveals plans to expand the country’s new foreign currency clearing system to create technological backbone for offshore renminbi market