Fintech
Islamic banking most at risk of negative CBDC effects
IMF paper highlights risk of unremunerated and small retail deposits
Central Banking Awards 2023: second group of winners unveiled
Awards announced for Governor of the year, Communications, Transparency and partners
Fintech Benchmarks 2023 – executive summary
Most central banks continue work on CBDC, while payments innovation again tops research agenda
Central database is ‘cornerstone’ of open banking
Cyber security and financial literacy are key obstacles to data-sharing, experts say
SNB’s Maechler to take deputy role at BIS
Senior Swiss official will replace Luis Awazu Pereira da Silva as deputy general manager
US lender tied to FTX goes into liquidation
Federal government investigating California bank linked to failed crypto exchange
BIS Project Icebreaker proposes cross-border retail CBDC model
Central banks used smart contracts and worked with FX providers to cut costs and risk
Brazil’s central bank authorises business payments on WhatsApp
Peers can also send money in India, while B2B only is enabled in Singapore
BIS’s Skingsley urges central banks to collaborate on tech
Developing new technology may require “more openness than central banks are used to”
Carstens sets out vision for future monetary system
Programmable money on shared ledger would preserve two-tiered structure
India and Singapore link fast payments systems
Connection designed to help diaspora make cheaper and faster transfers
Russia to launch CBDC pilot in April
Central bank exploring cross-border functionality to evade sanctions
FSB outlines crypto and defi risks to financial stability
Future work will map “oracles”, “bridges” and other links with traditional finance
One in five fintechs in Ireland send inaccurate returns to regulator
One in four reported deficiencies in safeguarding customers’ funds
UAE plans to launch CBDC by 2026
Fintech strategy aims for cashless society through digital transformation
Bitcoin price does not respond to market signals – paper
Researchers find cryptocurrency value “orthogonal” to most economic indicators
Current regulation ‘not fully fit’ to handle big tech – Carstens
BIS chief offers ideas for new regulatory framework to govern data-focused platforms
UAE grants licence to Russian bank
US voices concerns over sanctions evasion and threatens action against facilitators
BIS developing ‘Pyxtrial’ for systemic stablecoin monitoring
London Innovation Hub centre will investigate balance sheets and asset-liability mismatches
Fed deals double blow to crypto bank
Wyoming-based Custodia turned down for Fed membership and master account
DNB fines Coinbase for ‘severe’ non-compliance
Crypto exchange fined €3.3 million for operating without registration
Saudi Central Bank consults on draft banking law
Law’s goals include “enhancing banking secrecy” and improving depositor protection
EU approves ‘prohibitive’ capital rules for banks’ crypto holdings
Draft law implements final parts of Basel III, planned for January 2025
CBDCs need ‘self-custody’ to achieve inclusion – MIT Media Lab
Self-custody is currently “impossible for state-issued currency in the digital realm”