Articles by Central Banking staff
Average RTGS system processes millions of payments yearly
Benchmarking data shows wide range of transaction volumes
The Central Banking Awards 2022 virtual ceremony
View the trophy presentations and acceptance comments from the winners of the ninth annual Central Banking Awards
Less than 10% of RTGS systems meet ISO 20022
Most non-compliant central banks plan to implement messaging protocol by 2025
Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers
Some central banks directly regulate RTGS prices
Direct intervention in pricing of other payments means is less common, benchmark respondents say
Atlanta Fed revises growth estimate downward
This quarter has the possibility of officially beginning a US recession
Few central banks offer free RTGS transactions
Most central banks use a mix of fixed and variable fees to recoup RTGS operating costs
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
Central banks use many third parties for payments projects
Respondents mention various providers, with Montran the most frequently cited
Three-quarters of central banks exploring CBDCs for retail payments
Though research is common, only a few have moved to pilot or roll out the technology
Majority of central banks only have one RTGS contingency site
More than half of institutions have had RTGS outages since 2020
Many central banks plan RTGS upgrades in coming year
Over 80% expect to renovate systems within five years
Communications Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the ongoing shift to social media and the impact of Covid-19
Fed research examines single cyber attack’s effects on stability
Federal funds market and discount window kept banks liquid despite attack – researchers
Social media ahead of traditional comms for central banks
High income institutions still skewed towards traditional channels
Central banks use wide array of external comms channels
Institutions employ about 10 media formats on average, and almost all use social media
Central bank websites vary greatly in popularity
Some get hundreds of page views per month, while others get millions
Christopher Waller denies Fed is ‘behind the curve’
Governor argues Fed not given due credit for forward guidance and low unemployment
Private sector tools often used to shape comms strategies
Meltwater, Hootsuite and Fuseworks among named software providers
Risk Management Benchmarks 2022 – presentation
Central Banking’s risk management subject matter specialist Victor Mendez-Barreira speaks with Chris Jeffery about emerging risks, the organisation of risk management departments and the most influential approaches to risk management
Email main channel for central banks’ two-way communication
A majority of central banks interact with the public through social media platforms
HKMA follows Fed with interest rate hike
Chief executive says HKMA will intervene when currency hits lower bound of peg
Early comms involvement in policy raises effectiveness
Teams involved in earlier stages of policy report communications are more successful
Central banks use multiple channels for internal comms
Email and platforms developed in-house are top channels, but many others are also common