Fintech
Podcast: Fintech and the question of central bank autonomy
Central banks should ensure their fintech activities do not undermine transparency and independence
More regulatory action on big tech may be needed – FSI paper
Actions so far may not be enough to address growing risks, says Financial Stability Institute
Why fintech governance matters for central banks
Fintech throws up an array of challenges that may require central banks to adapt their frameworks
Nigerian central bank will test prototype CBDC
“eNaira” will be tested in four cities, reaching a combined population of nearly 15 million
Biden nominates law professor for OCC
Saule Omarova favours more regulation and suggested the Fed take over deposits, alarming banks
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
BIS chief speaks about policy trade-offs at a critical time, tech collaboration, tackling NBFIs and the dearth of ‘green’ assets
MAS doubles down on subsidies for new listings
Expanded grant scheme aims to boost stock listings and equity market analysis
PBoC tells payment firms to cut ties to other business lines
Governor’s speech follows reported crackdown on China’s Ant Group
Vietnamese government tells central bank to draft fintech rules
Move follows central bank warnings of dangers posed by unregulated fintech sector
Do central banks have enough resources to meet tech challenge?
Accelerating technological evolution, difficulties to access and retain technical staff and limited resources will present growing challenges for central banks in the future
Brazil delays integrating payments into ‘open banking’ project
Phase three of project delayed to October after technical difficulties emerge
BIS to work on cross-border CBDC test with four central banks
Australia, Singapore, South Africa and Malaysia will help create shared DLT platforms
DCash: motivations, challenges, and lessons from the first monetary union CBDC pilot
Having worked on its Digital Currency Management System since 2016, Bitt has launched the first synthetic CBDC in Barbados, followed by another first in the Eastern Caribbean Currency Union in March this year, with more ahead
Bank of Thailand to test retail CBDC
Thai central bank will invite firms to participate in testing prototype in 2022
Book notes: Fintech regulation in China, by Robin Hui Huang
Book includes meticulous exploration of detailed regulations across Chinese fintech sector, but risks missing bigger picture
HKMA to hold AML/CFT ‘lab sessions’ for firms
Hong Kong’s central bank wants firms to upgrade AML/CFT technology
Viruses of a different kind: bolstering central bank IT frameworks
Remote working on a large scale had never been done before, but central banks appear to have successfully adapted IT and cyber frameworks
Mastercard and Visa dominate card scheme market
Number of operational card schemes ranges from zero to 10
Criteria for systemically important payment infrastructure differs
Thirty-one out of 37 central banks said they designate systemically important payment infrastructure
Communications Benchmarks 2021 report – executive summary
Insights into staffing and salaries, channels, social media, new technology and strategies
Colombian central bank joins DLT bond issuance pilot
Technology could cut costs and offer faster processing, traceability, security and risk management
France and Tunisia carry out cross-border CBDC transfer
Latest BdF experiment sees central banks make wire transfer using wholesale CBDC
Stablecoins neither stable nor coins – paper
Researchers argue stablecoins are not medium of exchange, and so are not money
Expecting the unexpected
Lars Schröder, senior engagement manager at SkySparc, looks at what is driving shifts in central banks’ technology requirements.