Payments
Libra reinvents itself in bid to overcome ‘fatal’ flaw
Pivot to present more of a payment-network image could save libra from regulatory haranguing. But at what cost for innovation?
PBoC partners with tech giant to test digital yuan
Chinese ride-hailing firm partners with PBoC digital currency research arm to test digital yuan
People: CBSL gains board members; RBNZ forms new department
RBNZ fills two new payments roles; long-time Danish official retires from the central bank; ECB comms chief moves to private sector
Bank of Japan to begin testing CBDC
BoJ publishes report on feasibility of digital yen, a surprise move after governor’s ‘lack of demand’ comment
CBDC can boost de-dollarisation and inclusion – Cambodia
Cambodia’s central bank says its quasi-CBDC network can promote use of local currency and improve financial inclusion
Zimbabwe increases interest rates as inflation soars
Central bank raises interest rates to 35%
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
Mobile payments banned in Zimbabwe
Central bank suspends mobile payment platforms following government circular
BIS expands innovation hub network
Several new locations unveiled in Europe and North America
Podcast: Georgia’s data-driven response to Covid-19
Covid-19 has provided the NBG a chance to test out its new data capabilities
Libra could cause central banks to lose control over monetary policy
Stablecoins linked to global reserve currencies could pose problems for monetary policy – research
Contactless cards change young people’s payment habits - OeNB paper
Researchers use data on randomly selected 21,000 banking customers in Switzerland
Covid-19 has highlighted payments systems problems – BIS report
Pandemic may have strengthened case for central bank digital currency, report says
New European payment effort delayed due to Covid
Consolidation of Target2 and T2S platforms hindered by pandemic
Brazil suspends WhatsApp payments
Facebook’s app had launched digital payments in Brazil on June 15
Singapore and China to deepen collaboration on green finance
MAS chief proposes working together in areas including loan syndication and verification
Bafin says it did not supervise scandal-hit Wirecard
Official tells Central Banking he is “not aware” of any agency supervising firm implicated in fraud
Fed develops new fraud prevention model
Federal Reserve wants model to be voluntarily adopted across US payments system by 2024
Bank of Thailand to build trial CBDC payment network
Project will see cement company using blockchain network to process suppliers’ payments
PBoC opens local currency payments market to first foreign company
Central bank issues clearing licence to Amex in step towards opening up one of world’s biggest bank card markets
CBDC development pushed into ‘top gear’ by Covid – policy-makers
The pandemic will have a lasting impact on consumer payment behaviour, panellists say
Covid-19 must not cause ‘technological lockout’, says RBA’s Bullock
Merchants could be hit if dual pricing is unavailable for mobile payments, deputy governor says
People: Hungarian deputy unexpectedly resigns
Marton Nagy resignation raises questions on future policy; BIS picks new CPMI secretariat head