Europe
RTGS systems’ running costs linked to operational hours
Two-thirds of infrastructure still operational for 7–12 hours daily
RTGS systems process nearly 200 million payments on average
Transaction values average $11.6 trillion among respondents
Number of RTGS fee-regulating central banks rises
More than two-fifths of retail payments ecosystem were diversified in 2025
Eurosystem to move T2 to round-the-clock operating hours
Payment systems to be available at all times as instant payments gain popularity
Non-banks lack central bank oversight in some jurisdictions
One in five smaller central banks lack oversight on all payment systems
Behind the scenes of the Bundesbank’s capacity-building programme
A multi-year effort has helped shore up expertise at West Balkan central banks. Will African and former-CIS institutions be equally responsive to Eurosystem technical assistance?
QT does not produce opposite effects to QE, evidence suggests
BoE study considers implications of 1980s ‘overfunding’ for policy-makers today
Some payment departments struggle with staffing capacity
Payment teams from Africa and the Americas report highest staff shortage
ECB board members begin priming markets for rate hike
Schnabel “does not expect” TPI to be needed as bond selloff was driven by “inflation compensation”
Payments units have median staffing of 30 FTE personnel
Central banks say they are boosting staff numbers to keep pace with evolving technology
Dollar smiles again, but for how long?
Twitchy investors backed the buck during Iran war, but experts are divided on whether this marks a return of the dollar smile
Europe’s central banks face tough policy calls – Barclays CEO
Venkatakrishnan also spoke on UK political uncertainty, Brexit and banking regs
French lawmakers confirm Moulin as next BdF governor
Villeroy de Galhau’s successor opens door to greener policies, throws support behind digital euro
AI architecture ‘a source of financial instability’ – ECB paper
LLMs and Q-learning trading algorithms both amplify market distress, researchers find
High-value notes: default money for criminals?
Some experts say the notes are a boon for felons, and that central banks should stop issuing them
Lane and Waller: research mix is extremely valuable
Central banks’ short- and long-term studies both benefit policy-making, Fed and ECB officials say
Euroclear rejects $254bn payment order in Bank of Russia case
Moscow court’s ruling in favour of central bank ‘completely without merit’, says Belgian firm
Lagarde at G7 meeting: ‘I always worry’ about bond markets
Leaders meet to discuss Middle East conflict, global imbalances
Access to cash must be protected – Bundesbank’s Balz
Board member says digital euro is ‘no silver bullet’ in payments landscape
European Commission plans permanent changes to FRTB
EU legislator will start work on new rules later this year to ensure level playing field with US
Battle of Trafalgar holds lessons on global liquidity – CEPR paper
Newly formed BdF struggled to cope with sudden loss of access to dominant currency
Latvian deputy says fintechs are drawn to Baltic state
Purgaile says efficient licensing and fast payments attract innovative financial firms
People: DNB governor to chair NGFS
Plus: Sarb appoints new chief economist and Belgium’s queen visits CBRT in Istanbul
Leading central bankers defend frameworks amid ‘polyshock’
Panellists at SNB-IMF event say policy-makers should remain cautious in face of uncertainty