Regulation
Borrower-based measures show value as macro-pru tools
Central Banking Summer Meetings: Central bankers resist pressure to ease buffers at first sign of downturn
Median RTGS system processes nearly $100bn annually
Median value of payments rose by $15bn from the previous benchmark
Explicit policy guidance ‘fraught with risks’ – RBI’s Das
Central Banking Summer Meetings: Policy-makers need to be “nimble footed”, governor says
Primary RTGS systems have average $1.65m in operating costs
Majority of central banks increased payments system divisions budgets in the past year
Payments oversight is under-resourced for a third of central banks
Respondents identify shortage of human capital, capacity building and dated technology as concerns
More central clearing could have eased Covid shock – BoE paper
Efficiencies for dealer balance sheets could allow banks to play greater stabilising role, authors say
Few non-banks have access to RTGS systems
Maximum number of institutions reported to have access to one RTGS system was 233
Most central banks have payment and settlement supervision mandates
Payment system laws contain oversight powers in two-thirds of jurisdictions
Payment ecosystems remain relatively unchanged over past year
Most central banks help price RTGS services and many do for credit transfers and direct debits
AI may demand ‘entirely new’ regulatory approach – IMF’s Gopinath
Deputy managing director says artificial intelligence risks “broad negative effect” on employment
SEC charges Binance and Coinbase
World’s largest crypto exchanges accused of illegal operations at expense of investors
Central banks report having one to three RTGS contingency sites
Most central banks experienced a high-value payment system outage in the last year
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
ISO 20022 payments messaging adoption rate increases
Majority of central banks uphold plans to transition by 2025
To govern well, manage ‘enterprise’ risk
Effective risk management should be governance-oriented and top-down; not operationally oriented and bottom-up, writes John Mendzela
More than 80% of central banks are investigating CBDC
Central banks feel negatively about retail digital currencies in their payment systems
Combatting the ever-changing cyber threats in banking
Seemanta Patnaik, co-founder and chief technology officer at SecurEyes, discusses the continually evolving challenges and threats, and possible solutions to remain resilient to cyber attacks in today’s central banking environment.
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs
Most central banks regulate or operate instant payment systems
Bank accounts, phone numbers and QR codes are most common access tools for instant payments
Most RTGS systems are more than three years old
Nearly 60% of central banks plan to upgrade their RTGS payment system in the next year
Most central banks use third-party payment providers
Montran, Swift, and CMA Small Systems come up repeatedly as third parties
Central Bank of Chile sets first counter-cyclical buffer
BCC also warns government could face financing problems
OCC will target ‘persistent weaknesses’ in US banks
Updated guidance introduces tougher approach to non-compliant banks
Iosco sets out global crypto regulation
International group of regulators targets conflicts of interest in the industry