Payments
Central bankers cast doubt on utility of CBDC
“Element of Fomo” drives projects on even when purpose is unclear and resources lacking
Papua New Guinea phasing out cheques
Central bank will stop processing cheques from larger businesses from end-2023
São Tomé gets loan for RTGS upgrade
Island country lacks automated system
Tech could shake up international monetary system – IMF paper
Inertia likely to maintain status quo in near term, but impact of technology “highly uncertain”
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
US regulators fine Wells Fargo for aiding sanctions-busting
Fed and Treasury say bank failed to halt client channelling funds to Iran, Syria and Sudan
Sweden does not yet need CBDC, inquiry finds
Report recommends strengthening access to cash and other offline payment methods
Singapore and Malaysia set up cross-border payments link
Travellers can use QR codes to pay for transactions in foreign stores
Fed details Custodia rejection decision
Decision says Wyoming firm has deficient management and risky business model
Central Banking Awards 2023 – the winners in full
Awards recognise extraordinary achievements by central banks and their partners in the past year
BIS to trial Asian instant payments link
Project Nexus aims to create standardised cross-border link for different countries’ systems
ECB hails launch of new wholesale settlement system
Eurosystem’s new RTGS system and liquidity management tool went live on March 20
CBDC needs good preparation, warn central bankers
Panellists say financial literacy, research and infrastructure must come first
Central Banking Awards 2023: second group of winners unveiled
Awards announced for Governor of the year, Communications, Transparency and partners
Central database is ‘cornerstone’ of open banking
Cyber security and financial literacy are key obstacles to data-sharing, experts say
Swift completes cross-border CBDC settlement pilot
Banque de France, Bundesbank and the MAS among central bank participants
US lender tied to FTX goes into liquidation
Federal government investigating California bank linked to failed crypto exchange
Russian payment system to start operation in Cuba soon
Ambassador says Mir will help Cuba counter effects of embargo
Brazil’s central bank authorises business payments on WhatsApp
Peers can also send money in India, while B2B only is enabled in Singapore
RBI report details Covid contingency measures
Central bank reorganised staff and processes at “unprecedented scale and speed”
Digital pound unlikely to be monetary policy tool – Cunliffe
Deputy governor says effect of paying interest unclear and could clash with other objectives
IMF officials: do not make crypto legal tender
Fund leaders call for cautious approach to digital assets at February meeting
FSB sets ‘priority actions’ for global payments reform
Broad study of interoperability and alignment has been narrowed down to specific actions
Marks (and sizes and colours) of distinction
Many central banks make an effort to make cash accessible to blind and partially sighted users