FMI
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.
Cash costs more than cards in Sweden
Debit and credit card payments have a lower social cost than cash transactions for purchases of more than €8 and €18 respectively, research published by the Riksbank has found.
Rules found to hinder remittance payments
Regulatory compliance is the main barrier to doing business in the area of workers' remittance payments, according to a poll of Sibos delegates.
Target2: ready to go
Five years in the making, Europe's new large-value payments system, known as Target2, is ready to go live on 19 November.
Europe set for SEPA after Sibos session
"SEPA is here! I met it in Boston," declared Jean-Michel Godeffroy, head of payments systems and market infrastructure at the European Central Bank (ECB), as Europe's payment players agreed to send, receive and process euro payments according to new…
Egypt to use SIA-SSB payments system
Egypt's central bank picked SIA-SSB, an Italian technology company, to develop its new large-value payments, the company announced at Sibos.
Banks should lead in growth effort: Zambia CB head
Caleb Fundanga, the governor of the Reserve Bank of Zambia, urged the country's banking industry to invest more in order to spur economic growth and reduce poverty.
US needs global payments standards, says industry
Should the US adopt international standards in its domestic payment systems? Surprisingly, "yes" was the overwhelming answer at a packed Sibos, Nick Carver, editor of SPEED, writes from Boston.
CSDs sceptical of ECB's settlement plans
Clearstream and Euroclear, Europe's two largest central securities depositories, were sceptical that the European Central Bank's (ECB) plans to build a single settlement platform will deliver the benefits the central bankers promise, Central Bank News…
Banks struggle with SEPA set-up
More than half of banks will not be able to comply with the Single Euro Payments Area (SEPA) initiative, which comes into effect in January.
SWIFT responds to privacy fears with new EU base
SWIFT will open a Europe-based global processing centre for payments as part of a response to allay concerns over data privacy raised after the United States asked for data on financial transactions by Europeans following the 9/11 attacks.
EU re-designs euro coin to exclude Turkey
The new design of the euro coin - set to be introduced next year in Slovenia, Malta and Cyprus - will not feature Turkey despite its inclusion in the original plans.
Currency reform set for delays - Nigeria's Soludo
Charles Soludo, the governor of the Central Bank of Nigeria, said reforms of its naira currency, set out in mid-August, are on hold until the central bank meets with the government.
Fed unveils new $5 bill
The Federal Reserve, the American central bank, today unveiled a new, more secure design for the $5 banknote that will be issued and enter circulation in early 2008. A new $100 bill will follow.
Australia's Payment Systems Board report - 2007
Australia's Payment Systems Board, which is chaired by the central bank governor, published its annual report for 2007 on Wednesday.
Bank funding: gone in 15 seconds?
Bank runs, once triggered, are set to become much quicker and less controllable in future.
New payment system working well - Fiji's Narube
Savenaca Narube, the governor of the Reserve Bank of Fiji, announced that the country's new payment system was now up and running.
Iran to consider redenomination
The Central Bank of the Islamic Republic of Iran will look into the possibility of knocking three zeros off its rial currency.
Venezuela set to publicise new currency
The Venezuelan Central Bank will launch a nationwide campaign to familiarise consumers with its new notes and coins, which will come into circulation at the start of next year.