Payments
Suriname's president replaces fired governor
Robert van Trikt vows to not bow to political pressure and finance public spending, and says focus for next year will be on AML controls and payment maturation
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
The second Belt and Road Initiative (BRI) Survey of 28 central banks reveals that they view the BRI as a major driver of globalisation, with a high percentage of respondents expecting the initiative to provide a significant boost to GDP. So far,…
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
Central banks will not rescue firms from future of payments – ECB’s Cœuré
Market disruption is likely as incumbent banks fight to remain relevant to customers who demand more from their payment service providers
Cyber fraudsters starting to rethink tactics – report
Swift research shows hackers have switched to transferring smaller amounts during normal business hours
RBA begins push for ISO 20022 payments migration
Central bank wants to make the switch before Swift ends support for some message types
Philippines joins local currency settlement network
Malaysia, Indonesia and Thailand created system in 2017 to ease reliance on US dollar
Pakistan central bank opens up financial sector to non-bank players
Finance minister pledges central bank-issued digital currency by 2025
Arab regional payment system set for 2020 launch
The new system would replace the costly and inefficient correspondent bank model
ECJ asked to rule on whether public bodies can reject cash
German high court asks European Court of Justice to rule on legal tender definition, which could allow public institutions to refuse cash payments
Access to cash a priority for UK’s PSR this year – report
Regulator criticised for response to earlier report which said 17% of population would struggle without cash
CBDC may see central banks adopt retail lending role – BIS’s Carstens
Two-tier banking system could be turned on its head by CBDC, but BIS will “flash warning light” if central banks fail to appropriately consider stability, Carstens says
Boston Fed research encourages tokenisation for ecommerce
Payment method could reduce fraud, paper says, given account information is removed from the process
Riksbank reports positive feedback on second e-krona report
Central bank argues electronic currency would protect access to state-guaranteed money
Bahamas to explore CBDC access to government securities
Governor John Rolle outlines some near-term payment system reforms
EBA launches register of payment and electronic money firms
Freely available online register brings together national authorities’ data
Regulators might not allow cash to circulate were it invented today – panellists
Anonymity of cash poses risks for the financial system, some central bankers say
ECCB announces digital currency pilot
Governor Antoine says the pilot is not “an academic exercise”, as the central bank plans to roll out the new instrument to the public within 18 months
Bank of Mexico and Amazon to co-operate on mobile payments system
Central bank aims to tackle low banking levels through digital payments
Danish mobile phone use cuts cost of P2P payments
Widespread adoption of technology fosters more efficient operations
Print-your-own banknotes could be the future – DNB official
Single-use banknotes with QR codes could be the future of cash, DNB cash head says
Sub-Saharan Africa could be fintech hub – IMF author
Wider adoption of mobile banking provides platform for further developments, says Amadou Sy
Central banks disagree over cash regulation
The BoE has issued legislation demanding banks supply certain denominations, but other regulators remain on the fence about how they should manage the future of cash