FMI
Payments industry lacks competition
If we want to speed up the development in payment services, we need to increase competition in the market, said Erkki Liikanen, the governor of the Bank of Finland.
New UK coinage meets lukewarm reception
New coin and banknote designs are almost inevitably greeted with criticism and the first new coin designs for 40 years from the UK's Royal Mint, unveiled on 3 April, were no exception. Historians, designers and MPs have already criticised them.
Payment system risk the priority
The need to mitigate the risk involved in using outmoded payments infrastructure has to be given priority, said Ranee Jayamaha, a deputy governor at the Central Bank of Sri Lanka.
Hong Kong's RTGS passes share-dealing-surge test
Optimisers in Hong Kong's high-value payments system meant it was able to cope with the explosion in initial purchase offers and lively market trading in 2007, Esmond Lee and Sara Yip, two members of the Financial Infrastructure Department at the region…
Fed issues new $5 bill
The first of the Federal Reserve's redesigned $5 bills was used to buy a collection of former President Abraham Lincoln's speeches.
Who signs the banknotes?
Most banknotes bear signatures, but who are the signatories? Åke Lönnberg explains
Coin misuse trouble Bank of Korea
Korean ten-won coins have recently found favour as decorative pendants - a development that has the Bank of Korea worried.
More remittances lead to more corruption
An increase in remittance inflows can lead to a deterioration of institutional quality in the recipient country, research published by the International Monetary Fund finds.
Late-afternoon Fedwire surge explained
The New York Fed finds three reasons for why an increasing number of payments are processed through the Fedwire funds transfer system in late afternoon.
Europe's single payments area goes live
Eurozone banks and customers received a boost on Monday as the Single Euro Payments Area (SEPA) went live.
Japanese business prepares for e-money surge
The number of payment devices for processing e-money transactions in Japan is set to almost double by 2010 as the payment method gains popularity with consumers.
Central banks get cheaper cash from companies
Private-sector involvement in the printing of banknotes substantially lowers costs, research published by Colombia's Banco de la Republica finds.
Gono explains decision to renege on note change
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has blamed the weather for backtracking on plans to take the Z$200,000 ($6.67) note out of circulation.
Euro makes rapid progress in Cyprus and Malta
Euro banknotes already account for 50% of the total in circulation in both Malta and Cyprus, the two Mediterranean islands that adopted the single currency on Tuesday.
Venezuela lops zeros off bolivar to curb inflation
Venezuela revamped the bolivar on Tuesday by slashing three zeros from the currency in a bid to dampen rampant inflation, which hit 20.7% in the 12 months to November.
Cyprus and Malta join eurozone
The eurozone became a little larger on Tuesday as Cyprus and Malta, two Mediterranean islands, adopted the single currency.
Zimbabwe set for new currency
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, said on Wednesday that the issue of a new currency was imminent, after announcing just over a fortnight ago that it would be delayed until 2008.
Stability needs reliable systems: BoE's Jenkinson
The resilience of wholesale payment, clearing and settlement systems to both operational and financial shocks remains a key requirement of financial and monetary stability, says Nigel Jenkinson, the executive director responsible for financial stability…
Ghana's new banking system up-and-running
The Bank of Ghana has gone live with a new banking system that will integrate all of the central bank's core operations.
New payments model needed, says RBI
The Reserve Bank of India (RBI) has suggested that a change in its regulatory regime, allowing migration to a new payments model featuring the use of mobile phones and pre-paid cards, could soon be under way.
Hong Kong and Malaysia look to reduce risk
The Hong Kong Monetary Authority and Bank Negara Malaysia looked to eliminate the settlement risk of US dollar bonds issued and traded in Malaysia with the launch of a payment link on Monday.
Greenback now worth a million Zimbabwean dollars
A single US dollar is now said to be worth 1 million of its Zimbabwean counterparts on the black market.
Speed up on SEPA: ECB's Tumpel-Gugerell
Banks need to step up their efforts if they are to be prepared for the launch of the Single European Payments Area (SEPA) on 1 January next year, according to Gertrude Tumpel-Gugerell, a member of the executive board of the European Central Bank.
Israel to print plastic notes
The Bank of Israel said its next issue of 20 sheqel notes will be on polypropylene, a type of plastic.