Payments
Payment innovation is top fintech spending priority
One-third of central banks say they are prioritising digital currencies
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions forestalled a damaging global financial crisis
Initiative of the year: Saudi Central Bank’s business continuity programme
Advanced planning allowed Sama employees and systems to continue operating critical functions despite Covid-19 lockdowns
Wholesale CBDCs may not fix cross-border frictions – panellists
Policy-makers question whether CBDCs will make international payments faster and cheaper
Bank of Thailand reinforces stablecoin regulation
Firms wishing to issue baht-backed stablecoins must consult with the central bank
Central Banking Awards 2021: third round of winners revealed
Awards go to central banks and market practitioners for payments, market infrastructure and currency
‘Do no harm’: central bankers warn against rush to issue CBDC
Agustín Carstens, Jerome Powell and Jens Weidmann highlight risks of acting too fast
Currency manager: National Bank of Ukraine
Decisive actions to cut currency denominations while upgrading notes and coins are starting to pay off
Payments and market infrastructure development – retail: Central Bank of Hungary
Strict implementation rules and unique operational setup supported e-payments shift during pandemic
RBA opened banknote contingency site during pandemic
Strength of banknote demand during pandemic was ‘unprecedented’, RBA bulletin says
Future of cash: what we can learn from the history of money
Central banks must take a broad view of efficiency if they are to preserve the benefits of cash, says Antti Heinonen
Bank of Thailand plans overseas PromptPay connections
Central bank aims to connect to retail instant payment systems in other countries
Governor of the year: Alejandro Díaz de León
Díaz de León has upheld the integrity and independence of Banxico against significant pressures
Innovation in reserve management: World Bank Treasury/ANZ Bank
Pair developed Swift-based messaging app to manage faster and safer cash operations
BoT says prototype corporate CBDC boosted efficiency
Thai central bank says DLT allowed cement firm to integrate payments systems with suppliers
Bank of Israel hails milestone in move to ‘smart payments’
Central bank is pushing transition to EMV payments that allow contactless transactions
Cash in circulation to remain elevated, Bank of Canada research says
Withdrawal and deposit relationships and high denominations to blame
The untapped potential of transaction data
Covid-19 has highlighted the need for central banks to have more timely information, questioning whether high-frequency indicators are being used to their full potential.
Fed’s ‘operational error’ disrupts key payment services
Fedwire, ACH and other transfer systems suspended for several hours
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
Bank of Japan to start testing digital yen
BoJ embarks on year-long pilot programme to test functionality
Private sector partnerships could be the key to CBDC survival – IMF research
Central banks may find it “challenging” to keep up with pace of technological change
Carney takes job on Stripe board
Former BoE governor adds role at fintech firm to growing portfolio of positions
Kenneth Montgomery on the Fed’s progress with instant payments
The FedNow project leader explains how the US will develop ubiquitous, real-time payments