Europe
Digital yen must be as robust as cash – BoJ deputy governor
Uchida says Japanese CBDC will need to retain public trust to same degree as notes and coins
BoE makes subtle leverage snipe at CCP cross-margining
Margin offsets might increase risk, but could also encourage more central clearing
MREL cut must be paired with more external funding – BIS’s Restoy
Reforms to resolution regime might appear technical but entail political choices, FSI chair argues
Banque de France governor declares victory over inflation
Villeroy de Galhau says France has to “spend better” to reduce debt
Near-24/7 RTGS systems more susceptible to outages
Central banks with longest uptime also report highest number of contingency sites
Working group minutes: central banks seek cash cycle efficiencies
Some EME institutions are restructuring operations and promoting digital payment methods
Most RTGS systems projected for upgrade within a year
Two in three RTGSs operating 13–16 hours daily to be upgraded within a year
European Central Bank reduces rates by 25bp
Lagarde hints at pause in next meeting, dispels rumours about early departure
Central bank gold buying slows in April
World Gold Council says higher prices may be behind reduced interest
ECB greenlights Bulgaria’s accession to eurozone
Politicians show cautious optimism as Bulgarian central bank governor lays out next steps
Budget and RTGS operating expenses rise year on year
Share of central banks charging both fixed and varied fees for RTGS access grows
High profits to cushion against bank losses – Danish central bank
Lenders in good position to deal with tariff turmoil, says National Bank of Denmark
Lawsuits looming against ECB’s climate policy, expert says
Banks could go to court over imposition of daily fines related to environmental prudential rules
Most central banks operate RTGS seven to 12 hours daily
Respondents processed over $6 trillion via system in 2024
Hungarian central bank launches anti-cyber fraud campaign
Governor announces five-step campaign to counteract increasing prevalence of scams
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
Sweden moves to improve liquidity provision in resolution
Riksbank and debt office develop “joint approach” to clarify how lenders can source liquidity in crisis
Number of non-banks with RTGS access rises year on year
Middle income central banks account for largest number of connections
Reflections on the international financial situation
Former IMF head Jacques de Larosière writes that markets are blind to Trump's policy shocks that are fragmenting the monetary ‘system’, causing strain in the eurozone and may result in stagflation
Croatia and Montenegro to begin cash swap programme
Central banks sign MoU to exchange damaged euro notes from Montenegro for undamaged ones from Croatia
Half of retail payment sectors saw diversification last year
Changes include regulations, technology and rate of participation
Slovak court convicts central bank governor of bribery
Kažimír must pay €200,000 or face prison for having paid an official to expedite VAT refunds
European central banks taking more active role in cash cycle
Roundtable hears how fears over moral hazard are being set against need to preserve cash infrastructure
Two-fifths of central banks leave payment fees unregulated
Middle income institutions more likely to regulate prices than other respondents