News/Financial Stability
Dutch cbank and Euronext offer real time DvP
The Nederlandsche Bank, the Dutch central bank, and Euronext Amsterdam are to offer real-time DvP from Mar 19, 2001, the central bank has announced.
Vietnam cbank launches electronic payment system
The State Bank of Vietnam (SBV) has completed the technical side of its US$13.2 million inter-bank payment project funded by the World Bank-funded, SBV Governor Le Duc Thuy announced.
US think-tank to study cross-border settlement
The Group of Thirty, the private Washington-based think-tank, is to undertake a new study of securities clearing and settlement arrangements in global capital markets, with a particular emphasis on cross-border activity.
Venezuelan cbank to introduce interbank ref rates
The Central Bank of Venezuela is planning to introduce a new electronic interbank trading system that should result in the creation of interbank rates of reference and greater efficiencies in interbank lending.
Korean payment system to operate in Vietnam
The Korea Financial Telecommunications and Clearings Institute (KFIC) said on Feb 28 it will hold a ceremony on Mar 6 to mark the operation of a Korean-designed inter-bank payment system that was recently installed at the State Bank of Vietnam.
E-banking conference to be held in Philippines
Philippine government officials, bankers, businessmen, academics, and other observers of the Philippine economy will tackle the challenges and opportunities of electronic banking at a conference being held by the Philippines central bank.
Clearstream to refute Secret-Acts charges
Luxembourg's central bank said Feb 26, 2001 that clearing and settlement group Clearstream has given assurances to the authorities here it will "take steps to refute allegations" that it set up thousands of secret accounts for its clients, including…
Central bankers discuss e-commerce at NY Fed
International central bankers on Feb 23, 2001 discussed how greater use of the Internet might affect monetary policy but said no definitive conclusions had been reached
ECB updates operational conditions for pay systems
On 20 February 2001, the Governing Council of the ECB updated the operational conditions for the use of eligible securities settlement systems (SSSs) in the settlement of collateral for Eurosystem credit operations.
Vietnam,Russia look to bilateral payment mechanism
Risks encountered by Vietnam's businesses in trading with Russian partners will likely be removed if talks between the visiting Russian banking delegation with their Vietnamese counterparts bear fruit.
ECB- Cross border use of collateral: users survey
The European Central Bank (ECB) on Feb 19 published a report presenting the results of a survey on the cross-border use of collateral.
Yugo cbank gets more control with new payment plan
Yugoslavia's central bank said on Feb 16, 2001 its proposal to re-establish foreign currency payments between Serbia and parts of Yugoslavia not using the dinar would allow it to regain control over money transfers countrywide. "Payments will be made…
Bulgaria's BNB in dispute with Mileti Mladenov
The Bulgarian National Bank and the Deposit Guarantee Fund got involved in a strange dispute when the draft law on bank insolvency was discussed by the parliamentary legal committee. The reason for the dispute was that Mileti Mladenov, head of the Fund,…
Philippines 1st e-Bank gets go-ahead for e-banking
The Philippines central bank has formally confirmed 1st e-Bank's authority to continue providing electronic banking services via its present cellphone banking system and soon a proposed Internet banking system, 1st e-Bank said in a statement. The BSP…
Cash launch to boost public support for euro-Noyer
European Central Bank Vice President Christian Noyer said on Feb. 2 that public support of the single currency would grow with the introduction of euro notes and coins from January 1, 2002. Echoing earlier comments from other ECB officials, Noyer said it…
UK's CrestCo goes electronic
London's international settlement house, CrestCo, is proposing to take the risk and cost of errors out of processing takeovers in the UK by replacing the paper form-filling with an electronic process. The proposals for Takeover Procedures in Crest,…
MTS sees JGB volume soaring with electronic deals
The start of an electronic inter-dealer brokerage system for Japanese government bonds (JGBs) will bring a huge increase in trading volumes, MTS Japan Securities CEO William Campbell said in an interview.
Core principles for payment systems up for comment
The final reports on the CPSS "Core Principles for Systemically Important Payment Systems" and the joint CPSS/IOSCO consultative report on the "Recommendations for Securities Settlement Systems" have now been published. Both reports are available on the…
Japan's RTGS to go live Jan 4 as planned
The Bank of Japan said Jan 2 it would launch its new real-time gross settlement system for bond and money market trading on Thursday, as planned. The BOJ made the announcement after earlier conducting a last-minute systems test to make sure all…
Central Bank of Nigeria held 224 clearing sessions
The Central Bank of Nigeria (CBN) in Kano has this year held 224 clearing sessions, during which 275,681 instruments valued at about N181 billion were cleared, the CBN Kano branch controller, Mr. Okun Folami, has said.
HK US dlr clearing volume picking up over time
Hong Kong's recently introduced U.S. dollar clearing system is unlikely to see volume pick up fast in the near-term as clients test the waters and wait for more services to be priced in U.S. dollars, said settlement bank Hong Kong and Shanghai Banking…
Zambian banks implement clearing system by Dec 31
All Zambia banks are expected to subscribe to the Direct Debit and Credits Clearing (DDACC) stream of clearing transactions by Dec. 31.
Mauritius automates banking settlement system
Mauritius' central bank on Dec 21 2000 launched an automated real time clearing and settlement system for the country's banking sector.