Cash
RBNZ’s Bascand: too soon to decide on issuing digital currency
New technology could reduce payments efficiency and increase financial instability, deputy governor warns
Businesses less willing to accept cash payments – Atlanta Fed
Increasing number of businesses are becoming reluctant to accept low-value cash payments
UK lawmakers ‘satisfied’ with Visa response to outage
Visa has promised an independent inquiry into the incident that saw 5.2 million payments fail; firm reveals details of its recovery efforts
UK card transactions surpass cash for first time
Report shows card transaction volume was marginally higher than cash in 2017
Cash usage unlikely to disappear – Atlanta Fed
Universal access, in-person shopping and preference among low-income groups support cash
Swiss reject radical monetary proposals
Less than a quarter of people vote for new monetary system; activist says vote has started a conversation
Central bank-issued digital currency threatens privacy – BoI official
CBDCs may not be compatible with rights of individuals, says Bank of Italy’s Panetta
DNB develops new instant payment network
Banks will be able to process payments within seconds by mid-2019, the central bank says, but evolution of cash infrastructure will continue
Cash usage in Switzerland below eurozone average – SNB survey
SNB’s first payments study finds 70% of transactions processed in cash in 2017
Lack of demand reducing cash use in Sweden – analysts
Riksbank paper says technological change is rapidly changing payment patterns in the country
Official reserve management in the 21st century
A lack of operational clarity and reluctance to view reserve portfolios holistically have prevented optimal, rules-based approaches to reserve management becoming commonplace. BlackRock‘s Terrence Keeley, Stuart Jarvis and Michael Palframan explain how…
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
RBI scrambles to respond to ‘spurt’ in cash demand
Central bank denies currency shortage but says note printing has been ramped up
New South African president supports pan-African currency
Cyril Ramaphosa says it is time Africa abandons “colonial mentality” and adopts common currency to foster investment and intra-African trade
UK’s PSR needs powers to protect cash – report
Think-tank report believes regulator should have consumer protection mandate, as cash machine closure threatens to leave the public excluded from payments network
UK considers scrapping some currency denominations
Decline in cash usage has seen the 1p and 2p coins largely fall out of circulation
Central bank digital currencies could aid policy transmission – BIS
BIS says CBDC may boost transmission of rate changes, but could also lead to runs at “unprecedented speed and scale”
BIS research finds ‘scant evidence’ of shift away from cash
Rise of electronic payments is not reflected in falling demand for cash
Malaysia central bank dismisses concerns over government cash handout
BNM says cash handout idea was “first mooted” by its board, dismissing the suggestion it was designed to “tempt” the Malaysian people
Sweden must ask fundamental questions on money – Ingves
Sveriges Riksbank governor Stefan Ingves says lawmakers must act to preserve the regulation of the payments system
Fed’s Dudley says Puerto Rico must ‘start from scratch’
Territory must face up to “painful” decisions to tackle debt and infrastructure problems
The winners of the 2018 Central Banking Awards
Bank of Canada wins Central Bank of the Year, Lesetja Kganyago picks up Governor of the Year and Perng Fai-nan receives Lifetime Achievement Award; 16 more awards unveiled
UK firm chosen for Fed cash management overhaul
CPS will take part in “competitive development” to replace high-speed cash-processing machines; firm’s software already used by Norges Bank
UK lawmakers launch inquiry into DLT and cryptocurrency
Parliamentary committee is to investigate whether UK regulators have struck the right balance in regulating emerging technologies without stifling innovation