Real-time gross settlement (RTGS)
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
Payments Benchmarks 2023 – executive summary
Payments are undergoing rapid technological change, creating opportunities – and challenges
Payments Benchmarks 2023 report – moving money in shifting conditions
Data reveals differences in CBDC paths, RTGS systems, instant payment plans and budgets
Third-party risks are a first priority for central banks
Cyber and concentration risks crystallise co-operation between critical infrastructure providers
Federal Reserve denies FedNow is a CBDC
Online sources post disinformation on payment system as anti-CBDC sentiment grows
Papua New Guinea phasing out cheques
Central bank will stop processing cheques from larger businesses from end-2023
São Tomé gets loan for RTGS upgrade
Island country lacks automated system
There’s work to be done on RTGS contingencies
Central bankers from Canada, Thailand, Singapore and Brazil discuss RTGS backup planning, including how redundancy, cost and complexity prevent central banks from operating more contingency sites
Law change set to make Fed reveal holders of master accounts
Amendment grew out of dispute between Republican senators and Kansas City Fed
Fijian central bank upgrades RTGS
New system will handle $81.6 billion of transactions annually, Reserve Bank of Fiji says
Banknotes: October to December 2022
A round-up of news and salient issues that have affected central bankers in the past three months
RBA to review payment system after outage
Central bank apologises for October incident that saw 500,000 payments via an Australian fast payment platform delayed for hours or days
BIS and central banks say multi-CBDC platform trial was a success
Central banks of China, Hong Kong, Thailand and UAE took part in US$22 million cross-border trial
ECB delays launch of new RTGS system and T2 consolidation
Launch had been scheduled for November but is now expected in March 2023
Payments Benchmarks 2022 – presentation
Central Banking’s payments subject matter specialist Riley Steward speaks with Chris Jeffery about digital currencies, payments oversight and more
Fiji will eliminate cheques from 2024
Governor says improved RTGS will replace paper payments
Fed announces new guidelines after master account controversy
Rules will impose tight scrutiny on non-conventional applicants
RTGS operating hours must expand, BoE’s Cunliffe says
Longer hours and more non-bank access would speed up cross-border payments, says CPMI chair
Japan and Soramitsu to conduct Asia-Pacific CBDC studies
Observers note de-dollarisation and spread of e-yuan as potential motivations
Payments Benchmarks 2022 report – on the shores of a digital future
Benchmarking data offer insights on mandates, staffing structure, oversight of payment services, RTGS design and management, and CBDC development
Non-bank access to RTGS systems still rare
Only a handful of central banks allow non-bank users
Less than 10% of RTGS systems meet ISO 20022
Most non-compliant central banks plan to implement messaging protocol by 2025
Some central banks directly regulate RTGS prices
Direct intervention in pricing of other payments means is less common, benchmark respondents say
Few central banks offer free RTGS transactions
Most central banks use a mix of fixed and variable fees to recoup RTGS operating costs