Accounts
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
China’s digital yuan kicks off test on e-commerce platforms
New round of tests in Suzhou allow use of CBDC for online shopping for the first time; new features designed to protect privacy
How can central banks secure the future of money?
Central banks should start tackling the accounting, legal and policy challenges related to CBDC. This work will shape the future of money, as could be witnessed in Albania
UK’s access to cash policy pilots to launch in 2021
Industry body seeks permission from FCA to allow retailers to provide cashback services
RBI lines up ‘pan-India umbrella entity’ to shake up retail payments
Firm “may be permitted” to hold an account at the central bank
RBI to pay out $7.6 billion to cash-strapped government
Central bank maintains capital at lower bound of specified range
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
CLS proposes second-tier FX settlement system
Stripped-back system for EM currencies mooted to tackle rising settlement risk
Lebanese central bank faces audit as crisis deepens
Inflation is spiralling and IMF talks have yet to result in a bailout package
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
UK’s ‘Big Four’ told to separate audit practices
Major shake-up of accounting firms comes in wake of the Wirecard scandal
Podcast: Financial innovation and stability in the US
In the latest episode of the FedSpeak podcast, the Atlanta Fed’s Larry Wall discusses stablecoins, reserve currencies and credit loss accounting through the lens of financial stability
Accounting for losses during a pandemic
US banks get green light from senators to use loan loss accounting methods widely criticised following 2008 crisis
Some thoughts on CBDC operations in China
People’s Bank of China deputy governor Fan Yifei outlines why he favours an indirect approach to introducing a CBDC in China
‘Ostrich approach’ to financial stability is a mistake
Denmark’s top supervisor, Jesper Berg, says scaling back IFRS 9 would be a costly error, despite the economic challenges raised by Covid-19
ECB mulls wider clearing house access to account facilities
Including CCPs in the Eurosystem may remove the need for them to seek a banking licence
BoE’s Taylor argues for solution to IFRS 9 ‘headache’
Loss provisioning rules could worsen downturns and present issues for stress-testing, official says
Custody initiative: Euroclear
The securities depository has debuted instant dollar settlement in central bank money outside the US – a service that has virtually eliminated settlement risk
Liquidity operations squeezed Fed’s net income last year
Repurchase agreements cost the Fed $6 billion in 2019, preliminary results show
CBRT to hand over profit and reserves to government
Law change permits government to dip into central bank’s reserves
Bank of Israel proposes open banking rules to foster competition
Banks and credit card companies to allow supervised third parties access to their customers’ accounts
Chile’s forex intervention likely to stabilise peso – experts
Much depends on the reform programme the government chooses to adopt, however
A spotlight on IPSAS Draft 69
Proposed accounting guidance for specific instruments by the Public Sector Accounting Standards Board may have significant implications for central banks
Innovation for real-time payments and settlements
Financial and institutional banking have undergone a transformational technological shift, meaning working in real time is increasingly commonplace. This is not the case for payments and settlement, which can still take days. Baton Systems explores how…