Payments
Emerging market central banks keener to issue CBDCs – BIS
BIS survey shows central banks shifting emphasis from wholesale to retail CBDCs
Hong Kong and Thailand launch next phase of cross-border CBDC project
CBDC-based payments can cut costs and boost speed, HKMA and Bank of Thailand study shows
Remittances can cause volatility if concentrated – IMF paper
Flows of remittances are broadly stabilising for the receiving country, but not if they are too concentrated, paper finds
Belgium to launch new ‘smart’ ATM network
Network will look to solve geographical disparity and maintain cash services
People: Modi’s government appoints new RBI deputy governor
Michael Patra takes position left by Viral Acharya in June 2019; EBA names new executive director
Bank of Ghana payments overhaul to focus on fintech
Central bank will ensure regulation is fintech-friendly
KYC initiative could help stem correspondent banking decline
South Pacific KYC utility will be based on digital identification databases
RBA: stablecoins must wait until framework in place
Australian central bank says it may step up CBDC research efforts
Interview: Björn Segendorf
Riksbank senior adviser thinks it highly unlikely cash will disappear completely in Sweden
ECB paper offers tiering solution to CBDC structural concerns
Separating CBDC functions between tiers could disincentivise use during crisis periods
Eurochain: CBDC project seeks secure anonymity
Proof of concept blends anonymity with AML/CFT regulation
Bahamas rolls out first phase of CBDC pilot
Pilot will be rolled out to rest of country after June 2020, says governor Rolle
Are we sleepwalking into a cashless society?
Cash could be crowded out, but should central banks be responsible for ensuring its survival?
India’s approach to national biometric ID applicable to ‘all economies’
BIS paper examines how India created digital financial infrastructure as a public good
People: Logan to head NY Fed market ops; Norges Bank deputy departs
Lorie Logan and others get senior roles at New York Fed; Norges Bank deputy steps down early
Riksbank to work with Accenture on e-krona pilot
First year will see development of user interface for mobile, card and watch-based payments
CBDC has been “over-hyped” – former RBI deputy
Focus on retail CBDCs is a potential distraction from core central banking functions, says Sinha
Lagarde promises wide-ranging review of ECB monetary policy
ECB to form digital currency task force as Lagarde calls for EU action on green finance
Forex market growing, but more risky – BIS review
Reduced reliance on PvP and heightened fragmentation threaten market resilience
Tensions emerge in Fed’s push for instant payments
The US Faster Payments Council is in a better position than the Fed to tackle key issues, some say. Others welcome the Fed’s muscle in promoting competition
Central banks should collaborate on multicurrency CBDC – research
Lithuania’s central bank notes national CBDC projects will not solve global payment inefficiencies
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
UK regulators weigh rules for ‘operational resilience’
Under proposals, firms will be expected to demonstrate their preparedness for operational issues
Carstens: Money without central banks is doomed to fail
Many “architectures” are possible but they must be built on a foundation of trust, BIS chief says