News/Financial Stability
Bangladesh central bank launches website
BANGLADESH - Bangladesh Bank, the country's central bank, on 11 July opened its website to allow access to economic information and financial data.
Indonesia c-bank implements new settlement system
INDONESIA - Bank Indonesia (BI), the Indonesian central bank, has implemented the Real-Time Gross Settlement (RTGS) system in Bandung. RTGS facilitates high-speed, high-value transactions. BI will also use RTGS to monitor the liquidity of banks and as an…
China to unify mark on banking cards
CHINA - China's central bank issued a circular Monday demanding that all commercial banks adopt a unified "Yinlian" mark on their banking cards for the purpose of settling in the local currency, Renminbi.
Polish Computerland To Provide Software to Bank
POLAND - Polish computer systems integrator Computerland will provide its software systems to the domestic central bank (Narodowy Bank Polski - NBP).
Euro € - Reynders wants euro boost at cash machine
BELGIUM - Didier Reynders, the Belgian finance minister, on 28 June proposed making euro notes available to consumers on a limited basis prior to next year's January changeover, to help reduce the risk of queues and delays forecast by retail groups.
Mobile phone plan may hasten cashless society
EUROPE - The FT in London reports on 28 June that three major mobile phone manufacturers are negotiating with leading banks so that mobile phones can be made to act as a type of creidt card.
Bank of Canada outsources 500 jobs
CANADA - The Bank of Canada said on 27 June it has hired Electronic Data Systems Corp. to help run a program that sells Canada Savings Bonds and other types of debt to the public, cutting the central bank's payroll by a third.
Computer law to fight bank fraud
US - The House Financial Services Committee approved legislation on 27 June that encourages regulators to link computer systems to help crack down on financial fraud.
Euro € - Warning on readiness for euro
USA - Oracle, the world's second largest software company, has warned that companies could hit an "information technology bottleneck" in the run-up to the introduction of euro notes and coins on 1 January.
Hacker fears prompt security check for Bacs
UK - The bank system that runs direct debits and electronic payments, Bacs, is reviewing its security amid calls for tighter protection against hackers.
Parliament worries over euro note chaos
Fears are growing that the introduction of euro notes and coins on 1 January 2001 will create logistical nightmares for eurozone authorities.
BoJ to implement RTGS for foreign cbank JGB sales
JAPAN - The Bank of Japan said it will improve its infrastructure to enable Japanese government bond sales by foreign central banks to be settled under the real-time gross settlement system.
Settlement system to remain in New Zealand
NEW ZEALAND - The Reserve Bank of New Zealand announced on Apr 18 that its plan to move the hardware used for inter-bank settlements in New Zealand to Sydney will not proceed.
Philippine monetary board OKs liquidity facility
PHILIPPINES - The Monetary Board, the policy-making body of the Philippine central bank, has approved the establishment of an inter-day liquidity facility to help banks in their financing requirements.
Brazil's new payment system delayed to Jan 2002
BRAZIL - The Brazilian central bank late on Apr 11 said it delayed the implementation of the country's new system for payments for the banking sector to January 2002, to allow for more testing.
SARB-payment system risk reductions measures
SOUTH AFRICA - The South African Reserve Bank announced on Apr 5, 2001, that it has embarked on a phased implementation of certain risk reduction measures in the national payment system.
Swazi banking system undergoes modernisation
SWAZILAND - Along with other countries of the Southern Africa Development Community, Swaziland is revamping its banking system up to international standards, Bank of Swaziland Governor Martin Dlamini said on Apr 6, 2001.
PBOC vows to promote e-banking
CHINA - A senior official of China's central bank said on Apr 7, 2001 that the central bank is adopting active measures to support the development electronic banking.
BiH payment systems working well-cbank governor
BOSNIA AND HERZEGOVINA - The new payments system in Bosnia and Herzegovina, which has been in effect for three months, is working well, said Bosnia's central bank governor Peter Nicholl on Apr 5.
Korea's KFTC-BoK assistant governor new president
SOUTH KOREA - The Korea Financial Telecommunications and Clearings Institute (KFTC) selected Yoon Gye-sub, the assistant governor of the Bank of Korea (BOK), as its new director at a general meeting held on Apr 4, 2001.
BoC annouces monetary operations changes
CANADA - The Bank of Canada is changing two of its operational procedures relating to the Large Value Transfer System, effective Apr 2, 2001.
Credit-card reform goes to the RBA
AUSTRALIA - On Mar 20, 2001, the Australian competition regulator handed the job of reforming Australia's credit-card system to Australia's central bank.
Price stability remit for Croatian Cbank
Croatia's parliment is to debate a new central bank law to reform the payment system and give the central bank more independence.
Settlement failures triple in Feb bond trading-BoJ
The Bank of Japan found 296 cases of settlement failure in Japanese government bond trading in February, the central bank said on Mar 14, 2001.