Real-time gross settlement (RTGS)
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
Majority of central banks only have one RTGS contingency site
More than half of institutions have had RTGS outages since 2020
Many central banks plan RTGS upgrades in coming year
Over 80% expect to renovate systems within five years
Riksbank launches 24/7 instant settlement system
Rix-Inst operates on same technology as ECB’s Tips system
BoE’s Cleland calls for innovation in wholesale payments
Wholesale payments suffer from inefficiencies despite being critical to financial stability, official says
Payment services: CMA
The Swedish payments firm is well known as a provider of core infrastructure for central banks, and is now a key player in a new payment system linking the Arab world and beyond
BIS unveils 2022 programmes for innovation hubs
Focus is on CBDC, payments, DeFi, green finance, and first projects in London and Stockholm
Bank Indonesia launches fast payments system
Central bank is conducting an overhaul of all its main payments systems
BoE’s new RTGS system to be open 24/7 ‘if required’
Should industry require it, the upgraded system will be operational continuously
CPMI proposes ‘global settlement window’
BIS committee says window could work as focal point for aligning payment systems worldwide
A future-proof RTGS blueprint
Operating hours, access and data standards should all be considered by central banks contemplating an RTGS overhaul
CBDC issuance should not be rushed, say central bank experts
Officials at Singapore Fintech Festival warn central banks must be alert to risks of CBDCs
Podcast: Payment networks of the future
Liz Oakes (Mastercard) and Somya Patnaik (ACI Worldwide) discuss how central banks can ensure consumers get the most out of new payment infrastructure
Payments Benchmarks 2021 – presentation
Central Banking’s payments subject matter specialist Rachael King speaks with Christopher Jeffery about payments, staffing and salaries, mandates, oversight, and RTGS renewal
BoE permits cloud usage to support ISO 20022 migration
Cloud usage must be “controlled” and not risk wider payments ecosystem, BoE report says
Payments Benchmarks 2021 report – executive summary
Insights into staffing, mandates, oversight and RTGS management
Payments Benchmarks 2021 report – looking forward to a digital future
Benchmarking data offer insights on mandates, staffing structure, oversight of payment services, and RTGS design and management
Majority of retail payment systems lack real-time processing and settlement
Over half of RPSs in emerging market economies were owned by central banks, but in advanced economies this fell to less than a quarter
Somalia relaunches payments system after three decades of absence
World Bank played key role in restoring system to war-torn country, governor tells Central Banking
Jamaica ‘mints’ first units of digital currency
Central bank kicks off pilot exercise with limited issuance of currency to banks and payments firms
Half of central banks surveyed experienced RTGS outages last year
Most reported operating one contingency site
Waller ‘highly sceptical’ Fed needs a CBDC
Existing and planned payments system upgrades appear sufficient, governor says
Central banks split on non-bank access to RTGS systems
Benefits of innovation must be weighed against risks of financial instability
Report finds major failings in eurozone’s RTGS management
ECB-commissioned Deloitte inquiry into system failures recommends series of reforms