Fintech
Bahrain central bank establishes cyber-security emergency response team
Executive director says procedures and responsibilities of the team are being set up; it forms part of a wider approach to addressing threats and incidents in the financial sector
Threats and opportunities for money and payments in the digital age
Supervisors will need to adapt their frameworks to protect trust in new protocols associated with cryptocurrencies and distributed ledgers, not merely guard against new risks
Embracing digital tech could reduce systemic importance of banks – RBNZ article
Bulletin discusses risks surrounding digital disruption in the banking sector; if unregulated entities provide "significant portion" of banking services, new risks may emerge
HKMA prepares cyber security ‘fortification’
Monetary authority seeks to build a framework for assessing cyber risks as well as providing training and building infrastructure for sharing “threat intelligence”
MAS official sets sight on expanding cyber insurance
Bernard Wee considers how demand- and supply-side challenges hindering the cyber insurance market are being addressed
Riksbank urges FMIs to work against cyber threats on strategic level
Survey reveals not all FMIs have strategy to counteract cyber threats; Riksbank suggests work needs to be done at a “strategic level”
Researchers uncover details of ‘sophisticated’ Bangladesh Bank hack
Hackers showed deep understanding of Swift systems, going to great lengths to hamper Bangladesh Bank’s response, research by BAE finds
French governor calls for ‘gradualism’ in fintech regulation
François Villeroy de Galhau sees merits in “proportionate adaptation” of regulations for fintech companies; other contributors to latest FSR argue in favour of same rules for same risks
Iosco considers response to ‘growing threat’ of cyber risk
Securities firms and regulators are at an early stage in responding to cyber threats, report finds, but examples of good practice are starting to emerge
MAS and BoJ announce fintech push
Singaporean and Japanese central banks establish centres aimed at developing hyped sector; describe monetary authorities as ideal "catalysts" for technological development
FSB intrigued by potential uses of distributed ledgers
Mark Carney says FSB members see ‘exciting opportunities’ in financial technology, including the potential for distributed ledgers to bring security and efficiency
Broadbent weighs pros and cons of digital currency
Issuing central bank digital currencies could make commercial banks safer but might also ‘impair’ their ability to make loans, BoE deputy says
RBA’s Richards sees possibility for digital Australian dollar
New card regulation to be ready by May, says Richards; digital currency a possibility in the ‘more distant future’, but RBA not ‘actively considering’ it
Banks should improve tech infrastructure to aid stress testing, PRA officials say
Mark Yallop highlights demands on banks when assembling data, noting the 'generally poor state' of some technology infrastructures; Andrew Bailey says improvements would benefit all
Bundesbank board member calls for equal treatment of fintech by regulators
Financial regulators must apply the same principles to regulating financial technology companies that they do to banks, says a member of the Bundesbank’s executive board
MAS to set up financial technology and innovation unit
Central bank rejigs organisation as part of efforts to turn Singapore into ‘smart' financial centre; hires a global head from Citi to lead new group
Central banks weighing the benefits of bitcoin
Digital or ‘crypto’ currencies are controversial among central banks, but some see merits in their use and a few may even issue their own; more digital currency innovation likely in future
RBA's Debelle doesn't fear digital disruption to payments and currencies
RBA assistant governor Guy Debelle tells London conference digital disruption is a micro, not macro story - saying central banks can deal with a change in the transmission mechanism
China moves to block Bitcoin as digital currency gains credence
Bank of America analysts say Bitcoin could become a ‘serious competitor to traditional money', but the People's Bank of China warns it 'cannot and should not be used as currency'
BoE’s Salmon says Bitcoin won't be 'final word' in digital currencies
Bank of England chief cashier says 'innovative' Bitcoin could in future be superseded by central banks' own digital currencies