Settlement risk
Synchronisation can support tokenised securities settlement – BoE
But central bank says it is unclear whether it outperforms unified ledger
ASX risk management still not up to scratch, says RBA
Australian central bank says exchange has “considerable work to do” after Chess settlement incident
RBNZ seeks regulatory powers over payments system
Central bank says New Zealand’s High Value Clearing System currently poses significant risks
The future of money
Central banks may require more flexible inflation targets and facilitate wider payments interoperability to maintain trust and the ‘singleness’ of money. By Sethaput Suthiwartnarueput
Stablecoins will not revolutionise money, says BIS
But a “trilogy” of tokenised assets on a unified ledger might, organisation concludes
Project Agorá ‘faces fragmentation challenges’
Conference hears how netting and liquidity-saving mechanisms are often at odds with T+0 settlement
Next phase of BoE RTGS project aims for atomic settlement
New platform settled £778 billion on first day of operation, deputy governor says
The GFXC chair on the next steps for the FX global code
Global FX Committee chair Gerardo García speaks with Christopher Jeffery about updating FX best practice, improving buy-side engagement and revising settlement risk estimates in the BIS’s triennial survey
Three plans for digital payments: India, UK, and BIS
Das, Bailey, and Carstens discuss complementary tech, commercial bank innovation, and common platforms
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
SNB to explore wCBDC settlement for monetary operations
Project Helvetia allows safe and efficient settlement, says governor, but retail CBDC is risky
BIS project aims to redesign global payments infrastructure
“Most ambitious” innovation hub project to date will test BIS’s “unified ledger” concept
EU considering shift to T+1 or T+0 – Cipollone
ECB board member says markets are on brink of “significant shift” in digital settlement
Carstens says ‘quantum leap’ needed to overcome legacy systems
BIS chief says tokenisation, CBDC and unified ledgers could ‘democratise’ finance
BIS wraps up cross-border CBDC trial
Project Mariana explored FX settlement using ‘automated market-makers’
BoE’s RTGS system goes down for nearly six hours
Database problem prevented high-value payment system from opening at usual time
Unified ledger could usher in ‘profound’ economic change – BIS
Hyun Song Shin describes single platform for public and private money as “game changer”
The long road to 24-hour RTGSs
Extended hours would help international payments but some central banks challenge the business case
Non-bank access to RTGS systems still rare
Only a handful of central banks allow non-bank users
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
How to stop stablecoins from hoarding precious collateral
Repo markets expert and crypto bank chief exec think Fed reserves are the right answer