Payments
Australian payments council established with support of central bank
New payments council features members from 14 organisations across the payments industry – including the central bank – and was set up on basis of RBA recommendations
ECB designates four 'systemic' payments systems subject to new regulatory standards
European Central Bank identifies four payment systems as systemically important, which will now be governed by stricter oversight standards that entered into force last week
Central Bank of Nigeria defends reintroduction of fees on ATM withdrawals
Bank says reintroduction of fee will hinder abuse of expensive ATMs and promote its cash-less policy; fee was abolished in 2012 to encourage use of ATMs
Cœuré sees cyber threats and virtual currencies rising on payments agenda
Chair of the CPSS suggests the organisation should look beyond securities and derivatives markets in the 25th anniversary edition of Central Banking journal
Payments achitecture fit for the 21st century
Globalisation, changes in FMIs and the emergence of new payment schemes will require ever closer co-operation to ensure the safety and efficiency of the underpinnings of the financial markets
Malaysian deputy targets 'distortions’ in payments market
Muhammad bin Ibrahim says ‘more needs to be done’ to correct price distortions that he believes are holding back electronic payments in the country
Credit cards account for more than half of all payment cards in the US, report shows
Credit cards accounted for 334 million of the 776 million ‘general purpose cards' used in 2012; Over 250 million mobile payments made using mobile wallet application, Fed study finds
People: Emefiele to chair key WAMZ committee; BIS appoints chief rep for Americas
Godwin Emefiele elected as chairman of the West African Monetary Zone’s committee of governors; Spanish economist Enrique Alberola Ila takes BIS post; more
Effective oversight needed to consolidate gains from mobile payments infrastructure
Increased diffusion of mobile payments in developing countries calls for better oversight, IMF paper says - recommending that central banks cooperate with other regulators
Fed official reiterates forex options clearing guidelines
Lawrence Sweet highlights industry discussions around forex options clearing as key component of a private sector solution
RBA's Debelle doesn't fear digital disruption to payments and currencies
RBA assistant governor Guy Debelle tells London conference digital disruption is a micro, not macro story - saying central banks can deal with a change in the transmission mechanism
Bank of Canada may ‘expand’ payments oversight
Deputy governor Lawrence Schembri says the central bank might be charged with the oversight of ‘prominent’ payment systems as well as those that pose systemic risks
Riksbank brief: Virtual currencies 'essentially positive'
Digital money can make payments 'cheaper and more secure', argues staffer in economic commentary; risks mean virtual currencies should be assessed on a case-by-case basis
Economists worldwide find cash still used ‘extensively’
Economists from Australia, Austria, Canada, France, Germany, the Netherlands and the United States compare survey data on payments; find cash ‘has not disappeared’
Danish faster payments system sees limited uptake
Danish central bank annual report on payments systems finds disappointing uptake of an offer to settle customer payments faster; says CPSS/Iosco compliance should be ensured
Euro Retail Payments Board sets out work plan in wake of Sepa migration
The board creates two working groups in its first meeting; one on post-migration issues, the other on finding Europe-wide solutions for securing electronic mandates for direct debits
New Zealand securities settlement system could go private
Reserve Bank of New Zealand issues public consultation on future of two major settlement systems; NZClear could be separated from Esas and moved into private sector
Riksbank appoints two senior managers
Appointments to human resources and cash and payment systems sections follow establishment of three new departments on March 1
Richmond Fed study shows 'dramatic crossover' in payment methods of US citizens
Study evaluates Fed data tracking 2,500 participants making close to 13,000 payments during three days in October 2012, shows many seniors sticking to mail as main payment method
Target2 'filled in' balance of payments gaps during euro crisis, NY Fed paper finds
Federal Reserve Bank of New York study finds adjustment to the pullback of private capital during the euro crisis made less harsh by Target2
RBA takes next step in opening up payments market
Shake-up of access regimes aims to give more room for competition in the Australian payments market; proposed changes still need amendments to legislation to go ahead
Europe card fraud up after five-year decline, ECB data show
Growth in online shopping blamed for increase in card payments fraud, which totalled €1.33 billion within the Single Euro Payments Area in 2012 - up 21% on the previous year
Singapore unveils faster payments service
The Association of Banks in Singapore says ‘almost immediate’ payments service for interbank transfers will launch in the middle of the year
Nigerian RTGS joins Swift
The country's adoption of the global payment platform yesterday is expected to improve settlement security and discourage the use of cash payments in the longer term