News/Financial Stability
House votes to end banking ban
US - The Senate House has voted to end a 70-year-old ban on banks paying interest on business checking accounts.
Central bank of Gambia to introduce new bank notes
GAMBIA - The Central Bank of The Gambia (CBG) is to discontinue the practice of exchanging bank notes that are fit for reissue for new uncirculated bank notes to members of the public effective 15 April.
Credit card holders set to rise if BOT eases rule
THAILAND - The number of credit card holders is expected to increase significantly if the Bank of Thailand agrees to decrease the minimum monthly salary required to be a card member from 15,000 to 10,000 baht, according to executives in the banking…
Sri Lanka c bank hands cheque clearing to local Co
SRI LANKA - The Central Bank of Sri Lanka has delegated the bank's operation of clearing cheques to local company Lanka Clear Ltd., reports the Daily News, quoting the central bank governor.
RBI gets new note verification system
INDIA - Counterfeiters of currency may face a tough time now. The public can look forward to fewer soiled notes in circulation. An advanced Currency Verification and Processing System (CVPS) has been inaugurated at the Reserve Bank of India, Bangalore,…
The Bank of Canada Launches a New $5 Bank Note
PRESS RELEASE - The Bank of Canada officially launched Canada's new $5 bank note into circulation today, 27 March.
Electronic signatures allowed for bank payment
VIETNAM - The State Bank of Vietnam (SBV) will announce regulations over the pattern and content of electronic documents to be used for payment services among banks next month, deputy governor Nguyen Van Giau said.
TFB calls for easing of credit card rules
THAILAND - TFB calls for easing of credit card rules Thai Farmers Bank Plc (TFB) is calling on the Bank of Thailand (BOT) to ease existing regulations on issuance of credit cards, Manager Daily said on 25 March.
European Central Bank Consultation Announcement
ANNOUNCEMENT - Consultation on electronic money systems security objectives, 19 March 2002.
U.S. late credit card payments rose in Q4
US - Late payments on credit card bills edged up in the final quarter of last year but fewer people were overdue on other types of consumer loans despite weak economic growth, a banking trade association said on Tuesday.
China links bank cashpoints to meet WTO challenge
CHINA - China launched an electronic network on Tuesday to link the cash machines of major banks for the first time, hoping the customer-friendly service will help Chinese banks fend off fierce foreign competition.
Facelift for the greenback
US - Redback, pinkback, and blueback may not have quite the same ring as greenback. Nevertheless, US Treasury Secretary Paul O'Neill is considering plans to replace the famously green hue of dollar notes with a rainbow of seven different colours.
Banks tackle RBA in new card twist
AUSTRALIA - The Australian Bankers' Association (ABA) says the Reserve Bank of Australia (RBA) has hired a lobbyist to promote credit card reform.
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Reserve Board on Thursday announced the publication of a guide to help consumers better understand their rights and responsibilities with regard to electronic check conversion transactions.
Banks in fight over card fees
AUSTRALIA - Banks and credit card issuers are in disagreement with the Reserve Bank of Australia (RBA) over credit card reforms.
RBA is losing minds in credit card battle
FEATURE - The Reserve Bank is digging itself into a hole in its new role as a consumer advocate and risks damaging its relations with the banks over its efforts to "reform" Australia's credit-card system.
SPB to stimulate debit card use in Brazil
BRAZIL - Brazil's inter-bank settlement program (SPB) is expected to cause a rise in debit card use and a corresponding decrease in check use due to high pre-funding fees, Bradesco technology director Osmar Roncolato Pinho told participants of a…
Reserve Bank of Australia Media Release
MEDIA RELEASE - Reform of credit card schemes in Australia, 18 March.
Cash transfers to be possible by Visa card
UK - European consumers will be able to transfer money directly between each other's Visa credit and debit cards by the autumn under plans by the card-processing network.
Korea to export currency for world cup period
SOUTH KOREA - The Bank of Korea (BOK) today said that domestic lenders will export 50 billion won (US$37.82 million) worth of the country's money abroad to facilitate currency exchange for foreigners who will visit Korea during the FIFA World Cup period.
China's c bank in battle over payment settlement
CHINA - Credit-card companies are fighting for a slice of multi-billion-dollar revenues which could be earned by providing their international networks to settle transactions made on the mainland.
Czech Senate pass amended Banks Act, Payments Act
CZECH REPUBLIC - The Senate on Wednesday passed the amended Banks Act abolishing the possibility of anonymous deposits, among other things.
10 won coins to become less visible
SOUTH KOREA - The Bank of Korea (BOK) said on Tuesday that fewer 10 won coins will be available in the Korean market this year.
Credit card advantages overlooked, RBA told
AUSTRALIA - Two leading banking industry consultants have criticised planned reforms of Australia's credit card industry.