Financial market infrastructure
Fed unveils new crypto supervision programme
Smaller banks need Federal Reserve authorisation before issuing stablecoins and dollar tokens
Hedge funds may reduce liquidity in volatile periods – BoC research
By transacting abnormally in times of market stress, hedge funds can reduce liquidity
US bank lobbying spending increases sharply in Q2
ABA and ICBA increased their spending by 132.6% and 264% respectively between quarters
MAS to replace corporate cheques with deferred payment system
Singapore will move to new system by 2025 amid falling usage and rising processing costs
Austria introduces new clearing service
Central bank welcomes lender-owned company’s oversight of new system
Canadian RTGS system improves payments efficiency, paper says
Researchers examined transition from a hybrid high-value payment system to RTGS
Singapore and Malaysia set up cross-border payments link
Travellers can use QR codes to pay for transactions in foreign stores
BIS to trial Asian instant payments link
Project Nexus aims to create standardised cross-border link for different countries’ systems
Fed’s Bowman warns of need for crypto standards
Board of governors member says banks’ use of third-party service providers also increases risk
RBA outlines retail CBDC pilot projects
Australian central bank will test 14 use cases, working with major lenders and other firms
Bank of Thailand to open virtual banking applications
Virtual banks should open in 2025 and come under same regulatory regime as existing lenders
Fijian central bank upgrades RTGS
New system will handle $81.6 billion of transactions annually, Reserve Bank of Fiji says
Bank Indonesia announces CBDC plan
Central bank will test wholesale and retail CBDC as Warjiyo says private digital assets pose new risks
RBA voices concern over exchange’s failure to replace system
Politicians will question whether regulators have sufficient powers over securities exchange
BIS and central banks say multi-CBDC platform trial was a success
Central banks of China, Hong Kong, Thailand and UAE took part in US$22 million cross-border trial
RBA payments systems suffer outage
Problem took too long to resolve, and platform is too fragile, payments executive claims
Central Bank of Kenya orders digital credit firms to ‘cease and desist’
Backlog of 278 applications pending while central bank awaits paperwork
Fed’s QT will be more complex this time, official says
Overnight repurchase liabilities make up a larger portion of balance sheet than before
FedNow scheduled for mid-2023 launch
Bowman and Brainard see CBDC substitution and cloud technology advantages
Chinese CBDC should not be as anonymous as cash, says PBoC official
Mu Changchun says small digital wallets will allow anonymity, but says freedom needs constraints
RTGS operating hours must expand, BoE’s Cunliffe says
Longer hours and more non-bank access would speed up cross-border payments, says CPMI chair
BoJ to study impact of CBDC on bank deposits
Report says safeguards needed to prevent possible “rapid shift” from bank deposits to CBDC
Bank of Zambia repels cyber attack
‘Hive’ hacker collective fails to steal valuable data and central bank refuses ransom talks
Fed nominee Barr plans to re-evaluate capital and liquidity rules
Proposed vice-chair for supervision sees limited role for Fed in tackling climate change