Remittances
Can central banks cut remittance fees to sustainable levels?
More action is needed to reach the UN’s 3% global average cost target. But central banks face limits on what they can do
Governors differ on cross-border payments
Officials from Europe, Africa and Asia diverge over whether bilateral or multilateral links are best
FSB calls for more action on cross-border payments
Reports say regional disparity remains and “significant progress” is needed to meet targets
Higher inflation results in greater remittances to Pakistan – paper
Workers send more money to make up for erosion of real incomes in their home country
Non-banks in RTGSs: greater efficiency or more risk?
Policy-makers and practitioners from central banks in Brazil, Hungary, Israel, Romania, Rwanda and the US share their perspectives
China links CBDC to Hong Kong’s fast payments system
Hong Kong residents can top up wallets via 17 retail banks as PBoC continues to promote use
Slight majority of US consumers ‘warm’ to CBDC, survey says
Respondents most interested in free use and widespread market adoption, Philadelphia Fed finds
India and Nepal to set up cross-border payments link
Project adds to growing list of similar bilateral initiatives in Asia
MAS suspends some remittance channels to China
Singapore’s central bank acts after Chinese authorities freeze around $10 million worth of remittances
Moldova cuts rates steeply while Romania holds
IMF says Moldovan central bank has largely neutralised second-round effects
Remittances to Mexico reach record high, says Dallas Fed
Researchers say strong US construction sector fuels funds transfers
Cross-border CBDC challenging to deliver, officials warn
But digital currency could tackle “extremely high” remittance costs, says IMF’s Tobias Adrian
US ‘bitcoin ATM’ industry growing despite risks, research finds
Remittances are big driver of bitcoin-to-cash ATMs, but industry is predatory, paper warns
El Salvador’s central bank licenses Binance
Move comes despite growing international regulatory concern over crypto exchange firm
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
India and Singapore link fast payments systems
Connection designed to help diaspora make cheaper and faster transfers
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments
Bolivian central bank offers preferential rate for dollars
Dwindling reserves drive new measures to obtain foreign exchange and gold for central bank
Bolivia seeks reserves boost from retail bond sale
Unusual central bank operation “does not make much sense”, former governor says
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…
Central Bank of Azerbaijan ramps up cyber security
Division head points to AI’s potential as additional safeguard