Payments
India proposes linking Brics countries’ CBDCs
Bloc, which has already committed to improving payments interoperability, faces geopolitical challenges
CBDCs versus instant payments
Are technological and ecosystem advances using CBDCs and instant payments complementary or substitutes?
Villeroy de Galhau warns of ‘Americanisation’ of money
Tokenisation and geopolitics are new disruptive forces, BdF governor says
Renato Gomes on Pix, Drex and digital asset regulation
Brazil’s deputy governor speaks with Christopher Jeffery about pros and pitfalls of open finance, financial inclusion and crime on Pix, and the need to sideline DLT for Drex phase 3
2025: The year in central banking
A look back at the biggest and most popular stories of the year
People: Lepushynskyi named NBU deputy
Plus: Grym gets new BoF role and Finma appoints insurance head
Book notes: Money in crisis, by Ignazio Angeloni and Daniel Gros
This book should be essential reading for policy-makers at a time of uncertainty and technological change
Payment fraud rose to €4.2bn in 2024, say ECB and EBA
Users, not providers, took ‘substantial’ share of related losses, report finds
Richard Doornbosch on central banking in a tempestuous climate
The president of the Central Bank of Curaçao and Sint Maarten speaks to Christopher Jeffery about addressing legacy financial scandals, transition to a Caribbean guilder, tapping gold holdings and managing a currency peg at a time of US policy uncertainty
China to continue ‘moderately loose’ monetary policy in 2026
PBoC plans to work with other agencies in effort to boost consumption
BIS tests tokenised FX settlement in instant cross-border payments
Minimal tech upgrades proposed to link central bank money on DLT across Europe and Asia
Norway’s central bank latest to disavow CBDC
Currency would not be ‘appropriate’ to maintain krone’s monetary sovereignty, Norges Bank says
IMF has no mandate for SDR stablecoin, says Tobias Adrian
Fund’s capital markets head says backstops are also crucial if instruments are to live up to their name
Eurozone bank uncompetitiveness a ‘myth’ – Schnabel
Regulations have made lenders better, says ECB board member
IIF says China’s CBDC irrelevant to renminbi internationalisation
Economists say yuan’s use for payments growing, though it remains “stagnant” as reserve currency
Bank of Russia to scrap some FX transfer limits
Institution to lift restrictions four months early for citizens and foreigners from “friendly countries”
NBFIs could dent transmission – Bundesbank board member
Growing non-bank activity could diminish banking channel’s importance, says Köhler-Geib
Taiwan’s Yang says central bank money remains global ‘anchor’
Governor says it is still ‘ultimate settlement asset’, notwithstanding development of tokenisation
Permissionless payments may be the future – NY Fed study
Stablecoins’ accessibility makes them different from other fast payment options, say authors
Synchronisation can support tokenised securities settlement – BoE
But central bank says it is unclear whether it outperforms unified ledger
Serbia says sanctions on Russia pose financial stability risks
Central bank sounds warning as government threatens to divest Russian stakes in domestic oil refiner