Payments
Why Bulgaria needs to deepen its currency board
The BNB’s currency board rules should be extended to transaction deposits at commercial banks, which could in turn issue digital currencies, even in the event of euro adoption
Bank of Korea will superheat banknotes to stop coronavirus
People looking to exchange currency will have to go through heat monitor
Swedish central bank will test DLT-based digital currency prototype
Sveriges Riksbank and Accenture project to use simulated agents to test ‘e-krona’
RBNZ governor: lawmakers must help preserve cash access
New Zealand governor says industry and politicians must respond to the rise of “less cash” society
Brazil to launch instant payments platform
System is set to become operational in November 2020 and will allow tax payments
Podcast: Bank of Finland’s Aleksi Grym on a 1990s’ digital currency
Avant was launched to establish a new payments network but failed due to competition from ATMs
BIS appoints heads of Switzerland and Singapore tech hubs
Cœuré says BIS’s Hong Kong hub will have head “in due course”
Bank of England launches new £20 banknote
BoE says the new polymer note is the “most secure” it has issued
Many new UK financial products lack consumer protections – FCA
E-money services are not covered by financial services compensation scheme, UK regulator says
Bank of Korea stops handling overseas cash as coronavirus spreads
Central bank says it will not accept cash from abroad until further notice
Stability versus solvency
There is still far too much regulatory forbearance on troubled bank debt. More on-site inspections and genuine writedowns are needed to fix the banking system
ECB and BoJ point to major problem in DLT-based payments
Latest “Project Stella” report says central source of information could create single point of failure
MAS to allow financial data transfer to US
Data-sharing agreement could see personal data shared across borders, as data localisation inhibits supervisory processes
RBI tries to break firm’s dominance in retail payments
NPCI was launched with backing from the central bank, but may have gained too much market power
UK financial market has never been ‘cleaner’, says FCA official
New business strategy has helped regulator monitor insider trading; additional metric helps analyse data from transactions previously out of reach
Central Banking Awards 2020: the winners
All the winners in the 2020 Central Banking Awards
New payments platform helped transfers during Australian bushfires
RBA was able to get money to those affected ‘immediately’, says Philip Lowe
US must review payments system oversight, Brainard says
Big tech’s currency plans could mean payments oversight is further weakened – senior Fed official
Central Banking Awards 2020: third group launched
Awards unveiled for currency manager, initiative, economics, currency services, advisory and data
Initiative of the year: Bank of Thailand
The Thai central bank has used two-way communications to support the delivery of major initiatives, including an instant payment system
Data services: Swift
Better data is making global payment chains safer and more efficient
Custody initiative: Euroclear
The securities depository has debuted instant dollar settlement in central bank money outside the US – a service that has virtually eliminated settlement risk
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform
Cambodia’s blockchain payment network will go live in early 2020
National Bank of Cambodia to become first central bank to launch peer-to-peer payment system