Settlement risk
Future of settlement is taking shape – so are some big questions
Cash or coins? How to tackle loss of netting? What about CBDCs? Market has a lot to decide in settlement revamp
ECB’s T2 suffers second ‘incident’ as Euronext reports outage
Euro and krone T2 settlements queued for 30–40 minutes following system update last month
Co-ordination key to alleviating tokenisation risks – IMF official
When activity is on shared ledgers, governance failures become systemic risks, Tobias Adrian says
PBoC designates RMB clearing banks for Indonesia and Africa
Bank of China (Hong Kong), ICBC and Standard Bank to operate services for Chinese currency
More than $1.4tn of daily FX trades face Herstatt risk – BIS study
Only around a third of transactions fully eliminate settlement risk by using PvP
Working group minutes: tokenised platforms vs synchronisation
Central bankers weigh up merits of emerging technologies and debate stablecoin use cases
Australian payments authorities consult on shared tech strategy
Digital IDs expected to become central in payments, as tokenisation forms parallel system
Sama’s Al-Sayari on financial resilience and the future of the riyal
The Saudi Central Bank governor speaks with Christopher Jeffery about the Middle East conflict, the transformation of the Saudi economy, improving prudential oversight and contingency planning, and the development of the fintech and tokenised ecosystem
Norway’s central bank latest to disavow CBDC
Currency would not be ‘appropriate’ to maintain krone’s monetary sovereignty, Norges Bank says
Synchronisation can support tokenised securities settlement – BoE
But central bank says it is unclear whether it outperforms unified ledger
ECB in no hurry with new structural operations – Välimäki
Portfolio will first need to be reduced ‘considerably’, says bank's alternate board member
Nigeria and Waemu brace themselves for T+2
Former head of West Africa Monetary Institute believes change will boost cross-border payments
BoE, MAS and BoT to test synchronised FX settlement
Project will use ‘synchronisation operator’ to achieve atomic settlement
ASX risk management still not up to scratch, says RBA
Australian central bank says exchange has “considerable work to do” after Chess settlement incident
RBNZ seeks regulatory powers over payments system
Central bank says New Zealand’s High Value Clearing System currently poses significant risks
The future of money
Central banks may require more flexible inflation targets and facilitate wider payments interoperability to maintain trust and the ‘singleness’ of money. By Sethaput Suthiwartnarueput
Stablecoins will not revolutionise money, says BIS
But a “trilogy” of tokenised assets on a unified ledger might, organisation concludes
Project Agorá ‘faces fragmentation challenges’
Conference hears how netting and liquidity-saving mechanisms are often at odds with T+0 settlement
Next phase of BoE RTGS project aims for atomic settlement
New platform settled £778 billion on first day of operation, deputy governor says
The GFXC chair on the next steps for the FX global code
Global FX Committee chair Gerardo García speaks with Christopher Jeffery about updating FX best practice, improving buy-side engagement and revising settlement risk estimates in the BIS’s triennial survey
Three plans for digital payments: India, UK, and BIS
Das, Bailey, and Carstens discuss complementary tech, commercial bank innovation, and common platforms