Swift
Book notes: Smart money: how digital currencies will win the new Cold War, by Brunello Rosa with Casey Larsen
This alarmist book, although lacking nuance, provides a lucid account of how CBDCs could play a decisive role in geopolitical dominance
Digital euro can fill market gap, panellists say
Representatives from central banks and industry discuss use cases for retail and wholesale CBDCs
Crashing the nth party: how third-party service provider risks compound
Cross-border collaboration may help deal with risks from multiple layers of outsourcing
Swift to conduct live digital asset transaction trials from 2025
Network’s head of innovation says functionality will meet increasing demand for digital transactions
Swift tailors its operations for digital assets
Network says DvP and PvP capability will let securities buyers pay for and exchange tokens simultaneously
More than half of US organisations ‘vulnerable to IT failure’
New research underlines cyber risks to central banks following CrowdStrike IT outage
BoE’s high-value payment system hit by ‘global payments issue’
Settlement of some payments delayed after problem originating with Swift; ECB delays closure of Target systems
AI, quantum computing and tokenisation set to transform finance – Menon
But significant barriers remain preventing the technologies from unlocking their full potential
Book notes: Bucking the buck: US financial sanctions and the international backlash against the dollar, by Daniel McDowell
A timely and well-documented book about the weaponisation of the US dollar
Lessons from the banking turmoil of 2023
Guardrails on capital, liquidity, deposit insurance, resolution, digitalisation and disintermediation need a rethink
Swift tests AI-driven fraud detection
Pilot projects aim to detect fraudulent activity and improve information sharing
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
Swift tokenisation experiments connect multiple blockchains
Banks and FMIs working towards 24/7 global asset trading settlement and servicing
The financial sanctions maze
Anyone affected by Russia-related sanctions knows patience and caution are strongly advised, writes Richard Heckinger
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Third-party risks are a first priority for central banks
Cyber and concentration risks crystallise co-operation between critical infrastructure providers
EU concludes authorities cannot seize Russian assets
Brussels says Europe may be able to invest assets and use extra profits to aid Ukraine
Swift completes cross-border CBDC settlement pilot
Banque de France, Bundesbank and the MAS among central bank participants
Iran and Russia to link banking systems to bypass sanctions
Move follows Iran’s signing of free trade “memorandum” with Russia-led EAEU
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen