News/Financial Stability
HKMA launch final stage of dollar clearing system
The Hong Kong Monetary Authority launched the final phase of its US dollar payment system on Monday, offering paper cheque clearing and delivery versus payment settlement of US dollar denominated debt.
Hayami says to supply ample funds for RTGS start
Bank of Japan governor Masaru Hayami said on Friday the central bank would supply ample funds to the money market to prepare for the adoption of the Real-Time Gross Settlement system on January 4.
BoT to ease regulations on e-money settlement
The Bank of Thailand said Wednesday it plans to ease restrictions on interbank electronic money transactions via its Bahtnet settlement system.
Nigeria parliament urged to legislate on e-banking
The Nigerian National Assembly has been called upon to pass appropriate legislation that will address the problem of fraud and other peculiarities of electronic banking, if Nigeria must enjoy full benefits of e-banking.
Oman cenbank plans Electronic Fund Transfer system
Oman's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.
New payments system in Bosnia ready by Dec 31
In its monthly newsletter, the Central Bank of Bosnia and Herzegovina gives an update on its preparations for setting up a new payments system in Bosnia and Herzegovina.
Power strike won't affect payment systems-BOK
Money transfers and financial settlements will be unaffected by a strike threatened by Korea Electric Power Corp.'s union on Thursday, according to the Bank of Korea.
Patil to head proposed SBI clearing corporation
R H Patil, former managing director of the Indian National Stock Exchange, is expected to take charge as the chairman of the proposed SBI Clearing Corporation for the money and foreign exchange market.
Settlement agreement between Lithuania and Belarus
The heads of the central banks of Lithuania and Belarus have signed an agreement on the procedure for settling accounts among economic entities, the Bank of Lithuania reported.
Basis for unified payment system in Russia
In December, the Interagency Smart Cards Commission will present a draft plan for putting together a unified payment system in Russia. The system will be based on the payment system of Sberbank, and the clearance and cash center of the central bank will…
Vietnam central bank liberalises payment fees
The Vietnamese central bank has decided to remove all limits on domestic and international payment fees charged by banks.
Italy MTS to adopt RTGS system soon
MTS SpA, Italy's secondary bond market operator, will soon adopt real-time gross settlement (RTGS) for bond operations to replace current end-of-day settlement, MTS deputy director general Ezio Dosa said on Wednesday.
Russia central bank to develop smart card market
Sergei Mikhailov, deputy director of the information systems department of the central bank, has announced that the bank is interested in developing the smart card market.
Liquidity gridlock feared from Japan's RTGS launch
Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.
BOJ commits to Jan 4 real-time settlement launch
Bank of Japan governor Masaru Hayami said on Tuesday the central bank would stick with the January 4 launch date for its real-time gross settlement (RTGS) system for government debt and money market transactions.
Target throughput improves; issues remain
While throughput on TARGET payments is improving some banks are still ignoring rules which require them to make payments promptly.
Turkish cenbank goes live with real-time DvP SSS
Central Bank of Turkey has gone live with new securities settlement system named ESTS (Electronic Securities Transfer and Settlement System) after three years of development. On October 31, the first day of use, 1,800 securities transactions were settled…
NBP discusses draft payment systems laws
Today the meeting of the National Bank of Poland's payment systems council, a consultative and advisory body of the central bank's management board, discussed draft laws that implement the basic regulations of the European Union in the area of payment…
Foreign exchange settlement risk
The Basel Committee on Banking Supervision just issued a revised version ofits guidance for supervisors on managing the settlement risk arising fromforeign exchange transactions.
Macedonia payment systems tender
Macedonia, like many other countries in Eastern Europe, is in the process of reforming its payment systems. It is tendering for IT systems.
New head of payment systems in Denmark
Karlsten Biltoft will become head of payment systems at the Danmarks Nationalbank as of 1 August 2000.
Bosnia payment system request
Central Bank searches for payment system supplier
Padoa-Schioppa to Head BIS payments committee
Tommaso Padoa-Schioppa, ECB's banking supervision supremo, has been appointed chairman of the Committee on Payment and Settlement Systems (CPSS) based at the Bank for International Settlements in Basel