News/Financial Stability
ECB report says EU banks need to exercise caution
The European Central Bank said in a report on Tuesday 7 November that EU banks need to exercise caution with their mortgage lending because of the risk of some households getting into financial difficulties.
Eurozone cbs well prepared for financial crisis
The European Central Bank said Monday 6 November a series of "stress testing" exercises have shown that eurozone central banks are well prepared to cope with a financial crisis.
Canada's banknotes getting mangled in old machines
A document quoted by the Canadian Press on Monday 6 November says that the Bank of Canada's currency counting machines need replacing to stop tatty bills getting stuck in the machines.
RBA appoints head of payments policy
The Reserve Bank of Australia announced Friday 3 November the appointment of Ms Michele Bullock to the position of Head of Payments Policy Department.
Acid blamed for crumbling German banknotes
German authorities revealed Thursday 2 November that more than 1,000 German banknotes have mysteriously disintegrated in recent months, possibly due to acid on the brittle notes.
New UK £20 'has raft of anti-fraud measures'
The Bank of England unveiled a new £20 banknote featuring the image of economist Adam Smith on Monday 30 October with a raft of improved anti-counterfeiting measures.
Kenya launches automated trading systems of NSE
President Mwai Kibaki of Kenya has said the automation of the trading system will create more confidence in the country's capital markets and enable the government and the private sector to access long-term financial resources.
Oman launches Clearing House solution
The Central Bank of Oman's Automated Clearing House Solution (ACH) has been completed, HP Middle East announced.
NBS chooses Wall Street Systems package
The National Bank of Slovakia (NBS) has selected Wall Street Systems, a provider of global treasury and capital markets solutions and services, to manage its banking functions, it was announced Monday 23 October.
Barbados' Williams notes cost of poor governance
Central Bank of Barbados governor Dr Marion Williams has said Barbados ought to guard against excessively complex corporate governance regulations, and ensure that these regulations are functional.
UAE delays cheque clearing system for tests
The Central Bank of the United Arab Emirates has said at least 90 per cent of UAE banks are ready to implement the new system of cheque clearing that is expected to go live early next year.
Kazakhstan gets 'bank' note spelling wrong
The Central Bank of Kazakhstan has misspelled the word "bank" on its new notes, officials said on Wednesday 18 October.
Payment systems, monetary policy in Europe
The first of two articles published by the Financial Times on Friday 6 October looks at the issue of central bank "plumbing" which, it says, is creating a stink for the ECB. The second article concerns a letter sent by a group of monetarist economists to…
T2S is 'only solution': ECB's Tumpel-Gugerell
The European Central Bank sees its proposal on securities settlement, called TARGET2 Securities, as offering an "efficient organisation of central bank money", says Gertrude Tumpel-Gugerell, a member of the executive board, in an interview in the autumn…
ECB says final decision on T2S in 2007
The European Central Bank will make a final decision on whether to proceed with its proposed Target 2 Securities settlement system in the first half of 2007, executive board member Gertrude Tumpell-Gugerell said Wednesday 4 October.
Swift defends role in data exchange
Swift, the Belgian company accused of transferring data on financial transactions to the US authorities, has refuted claims that it acted illegally.
Bahrain to revamp payment system
The Central Bank of Bahrain (CBB), formerly the Bahrain Monetary Agency (BMA), is in the process of revamping the national payment system, Trade Arabia reported.
ECB will move forward with financial integration
A European Central Bank executive board member signalled in comments to the Financial Times, published Friday 29 September, that the ECB will push ahead with plans to increase eurozone financial integration by providing securities settlement services,…
Riyadh to host payment systems conference
A two-day international conference on 'Payment Systems in Saudi Arabia and GCC countries' is to be held in Riyadh from 14 November. The forum will discuss the present mode of electronic access to funds at remote locations and future strategies.
Oman begins automated clearing
Oman's central bank has started its automated clearing house system for handling bulk electronic credit and debit transfers, according to the Oman Daily Observer.
SPEED: the new journal for financial plumbers
SPEED - short for Settlement, Payment, E-money and E-trading Development - is a new journal aimed at all those policy-makers in banks, central banks and system operators who are trying to ensure that the financial infrastructure, often called the …
Securities Settlement Service may cut costs
Costs for securities settlement services could fall as much as 20% if the European Central Bank sets up a single platform in the eurozone, a person familiar with the deliberations told Dow Jones Newswires Thursday 17 August.
SBV strengthens communications, security
The State Bank of Vietnam (SBV) has selected advanced technologies from Cisco Systems to help increase operational efficiencies in its countrywide infrastructure and provide a platform to regulate the banking system.
BOJ steps in after Tokyo blackout
The Bank of Japan began supplying emergency funds Monday 14 August to the interbank market after a blackout halted fund settlements.