FMI
The systemic importance of payments systems
Central banks are increasingly aware of the importance of payments systems to the maintenance of financial stability, the authors of this working paper find.
New payments data from CPSS
The Committee on Payment and Settlement Systems published their annual statistical update of data on payments and payment systems for 2005.
Fiji ponders remittances' effects
The governor of the Reserve Bank of Fiji, Savenaca Narube, suggested that the central bank would like to see remittances channelled towards investment projects and other "productive purposes".
SWIFT broke laws - EU committee
SWIFT, an international financial data transfer agency, breached European data privacy laws in handing over personal data to American investigators, according to a report by a European Union committee.
Europe's new large-value payment system on target
Europe's new large-value payment system is on schedule to go live in 2007 says the European Central Bank in its third annual report on TARGET2.
Buba's Fabritius on the new TARGET2 system
In the speech 'The new TARGET2 system and recent developments in European securities settlement' given on 15 November Hans Georg Fabritius of the Bundesbank said we will only be able to realise TARGET2 Securities with the active involvement and…
Mboweni on the National Payments System in SA
In a speech given on 15 November Tito Mboweni of the South African Reserve Bank said collaboration between the Bank and the banking industry has resulted in the South African Payment System being recognised as an example or model for development…
ECB wants more clarity on Sepa for cards
The European Central Bank said Monday 20 November it has laid down a new set of objectives for payment card schemes to achieve in order to become Sepa-compliant, amid concerns that current provisions would lead to higher prices and a deterioration in…
EC's McCreevy:Time to deliver on SEPA
In the speech 'Time to deliver on SEPA' given on 13 November Charlie McCreevy, the European Commissioner for Internal Market and Services, urged banks to speed up adoption of common standards for customers to make euro payments throughout Europe from a…
Iran will not use dollar in trade
Iran plans to carry out transactions in currencies other than the dollar in retaliation for US anti-Iran banking policies, IRNA reported Tuesday 14 November.
EU single payments area plan in doubt
European Union lawmakers said Wednesday 15 November that plans for a single payments area in Europe could hit the buffers unless governments reach a deal soon.
ECB's Tumpel-Gugerell on SEPA
In the speech 'SEPA - Opportunities by change' given on 13 November Gertrude Tumpel-Gugerell of the ECB said it is important to underline that payment instruments will have to adapt to the SEPA environment.
Drug linked to disintegrating euros
A mystery substance that caused some euro banknotes in Germany to fall to pieces may be linked to the party drug crystal speed, Der Spiegel magazine reported on Saturday 11 November, quoting regional police.
Pakistan soon to launch RTGS system
The president of telecoms company PTCL, Muhammad Abdullah Bamakhrama, has said it will soon provide its latest and state-of-the-art Real Time Gross Settlement (RTGS) system to the State Bank of Pakistan.
Malaysia, Hong Kong launch payment link
Bank Negara Malaysia (BNM) and the Hong Kong Monetary Authority launched a new cross-border payment-vs-payment link between Hong Kong's US dollar real time gross settlement (RTGS) system and Malaysia's ringgit RTGS system, the BNM said Monday 13 November.
Econ Perspectives - Central counterparty clearing
The Chicago Fed's Economic Perspectives for the Fourth Quarter 2006 focuses on central counterparty clearing and includes a summary of the conference, titled "Issues related to central counterparty clearing."
Is Swift living in the past?
This recent article from The Banker asks whether Swift is destined to become a relic of a bygone age, or if it can move into the modern era after its launch three decades ago.
Canada's banknotes getting mangled in old machines
A document quoted by the Canadian Press on Monday 6 November says that the Bank of Canada's currency counting machines need replacing to stop tatty bills getting stuck in the machines.
RBA appoints head of payments policy
The Reserve Bank of Australia announced Friday 3 November the appointment of Ms Michele Bullock to the position of Head of Payments Policy Department.
Acid blamed for crumbling German banknotes
German authorities revealed Thursday 2 November that more than 1,000 German banknotes have mysteriously disintegrated in recent months, possibly due to acid on the brittle notes.
Japan's Next-Generation RTGS
This paper from the Bank of Japan's Payment and Settlement Systems Department provides an overview of the RTGS project and discusses how it is expected to enhance the safety and efficiency of the settlement mechanism for large-value payments in Japan.
New UK £20 'has raft of anti-fraud measures'
The Bank of England unveiled a new £20 banknote featuring the image of economist Adam Smith on Monday 30 October with a raft of improved anti-counterfeiting measures.
Kenya launches automated trading systems of NSE
President Mwai Kibaki of Kenya has said the automation of the trading system will create more confidence in the country's capital markets and enable the government and the private sector to access long-term financial resources.
RBI's Reddy on payment and settlement systems
In the speech 'Payment and settlement systems - select issues' given on 20 October YV Reddy of the Reserve Bank of India said the RBI has formulated a 'Payment and Settlement Systems Vision' document for the use of banks, financial institutions as well…