FMI
Norges Bank - Annual Report 2008
Norges Bank has recently introduced a new settlement system, notes the central bank's latest Annual Report.
Chaps can cope with payments outages
If a financial institution is unable to make - but able to receive - payments, Chaps, the UK's large-value payment system, will ensure that settlement banks stop making payments to the institution, reducing systemic risk, new research from the Bank of…
Europe's ACHs bemoan Sepa's slow start
Europe's leading automated clearing houses (ACHs), which process and route payments, hit out at the lack of progress on the Single Euro Payments Area (Sepa) on Wednesday and called for an end date for national standards to hasten its implementation.
UK eyes 2018 cheque-out
The UK is moving towards closing cheque clearing within a decade, Paul Smee, the chief executive of the UK Payment Council, told an industry conference in London.
Better plumbing can stabilise system: BoE's Tucker
Paul Tucker, a deputy governor at the Bank of England, has said that more widespread use of more open methods of trading would enhance the resilience of the financial system.
Finland's Hakkarainen: retail payments not core
Central banks should not provide retail-payment services themselves, said Pentti Hakkarainen, the deputy governor of the Bank of Finland.
Hoenig moots Fed for bigger payments role
A lack of competition, concerns over integrity and the existence of externalities in the payments sector justify a greater role for the Federal Reserve in the industry, Thomas Hoenig, the president of the Kansas City Fed, has said.
Fed outsources in-house cheque images system
The Federal Reserve has decided to migrate its archive of cheque images to a private provider in an effort to reduce costs.
More payment systems caused cheque decline
The decline in cheque use occurred mainly via an increase in the number of payment instruments per consumer, a new paper from the Boston Federal Reserve reveals.
Norwegian payments system passed crisis test
Norges Bank's payments system successfully handled the challenges posed by the financial crisis, the central bank said on Thursday.
Basel Committee advises on cover payments
The Basel Committee on Banking Supervision on Tuesday issued its final guidelines on cover payment messages related to cross-border wire transfers, which can be used for money laundering and terrorist financing.
NY Fed's Dudley to fill Geithner's boots at CPSS
William Dudley, the president of the New York Federal Reserve who took over from Tim Geithner earlier this year, will also replace his former boss as chairman of the Committee on Payment and Settlement Systems.
US payments systems still evolving
Research by the Kansas City Federal Reserve looks back at some early payments systems and examines their status today and where they may be heading.
France explains Sepa delay
The French National Single Euro Payments Area (Sepa) Committee has justified its decision to delay the implementation of Sepa Direct Debit until November 2010, a year after the first available start date.
France bails on Sepa Direct Debit
The French National Single Euro Payments Area (Sepa) Committee, set up and chaired by the Banque de France and the French Banking Federation, has opted to delay the implementation of Sepa direct debit by a year to November 2010.
PBOC - China Payment System Development Report
Payment services tended to be diversified and increasingly market-oriented in 2007, notes the latest China Payment System Development Report from the People's Bank of China.
SA's Mminele on Southern Africa's goals
The Southern African Development Community's goal is to achieve a single currency and a regional central bank by 2018, said Daniel Mminele, an executive general manager of the South African Reserve Bank.
Monies contain embedded options
The face values of all notes and coins contain embedded options, argues a new paper written by Espen Gaarder Haug and John Stevenson, two quantitative-finance analysts.
Crisis highlights shortfalls in UK payments: BoE
The financial crisis has uncovered uncertainties and knowledge gaps among market participants in the United Kingdom's payment and settlement infrastructure, the Bank of England said on Tuesday.
Agenda set for derivatives industry
A meeting at the New York Federal Reserve on Wednesday of the major players in the over-the-counter derivatives market culminated in a four-point agenda for the industry.
Sepa project must be extended
The scope of the Single Euro Payments Area (Sepa) project must be extended to include standardisation in the field of value-added services, such as e-invoicing, a new paper from the National Bank of Denmark states.
ECB issues Sepa "expectations"
The European Central Bank (ECB) published a list of expectations on Friday for how it would like to see stakeholders act to implement the Single Euro Payments Area or Sepa, amid concerns that the initiative will be swept aside by the financial crisis.
European banks to drop interchange fees by 2012
The European Commission and the European Central Bank (ECB) have told European banks to get rid of interchange fees on direct debit transactions by 31 October 2012 under EU antitrust rules.
RBA's Lowe: payments providers must cooperate
There is a strong case to re-examine the balance that has been struck in the Australian payments system between competition and cooperation, said Philip Lowe, an assistant governor of country's central bank.