Financial Stability

Euro goes to court over trade mark dispute

EUROPE - The European Commission will be forced to defend the design of the euro symbol in court today less than six months after the introduction of the single currency. The emblem has become the subject of a trademark battle with Thomas Cook and…

Chinese central banker - card development vital

CHINA - The Vice-Governor of the People's Bank of China Xiao Gang said Tuesday that the increased acceptance of banking cards was vital to raising commercial banks' competitiveness and facilitating daily life for the public.

Egypt cb opens new check clearing house

EGYPT - The new electronic Cairo Clearing House at the Central Bank of Egypt (CBE) was inaugurated yesterday. Its services will be available to banks nationwide and its computerized system will be capable of clearing up to 100,000 cheques a day.

Loyalty not on RBA cards

FEATURE - Ian Macfarlane and his Reserve Bank appear set on making their proposed changes to the open card schemes, Bankcard, Mastercard and Visa, by the end of the year, regardless of the growing belief the "reforms" will harm the people the central…

Speech by Cathy Minehan, Boston Fed Bank, 8 May

SPEECH - In a speech titled 'U.S. Retail Payments: Change, Challenge and Opportunity' Minehan said "the payments system today faces sources of significant change--change in the form of new payments choices by consumers and businesses, driven by the…

JD1 coin to be replaced by new banknote in Jordan

JORDAN - The Central Bank of Jordan (CBJ) is expected to soon circulate new banknotes, to replace the current round JD1 coins, following numerous cases of counterfeit detected by security and financial authorities, a bank official said on Tuesday.

Banco de Brasilia fails central bank online test

BRAZIL - Brazilian bank Banco de Brasilia topped the central bank's online consumer complaint ranking in April, knocking financial group Grupo Santander Brasil from first to second place, according to information published on the central bank's site.

World's smallest ATM machine goes on display

UAE - Dubai-based Quick Line, which delivered a solution to produce labour cards for the Ministry of Labour and Social Affairs in 1994, has launched the world's smallest ATM called NanoCash.

UK company among 3 bidders for Nigerian mint

UK - De La Rue PLC is among three foreign companies bidding for a controlling stake in Nigeria's state-run mint, the Nigerian Security Printing and Minting Co, officials said.

Charting an ongoing evolution of e-payments

FEATURE - In her 32 years with the Federal Reserve System, Cathy E. Minehan, the president and chief executive officer of the Federal Reserve Bank of Boston, has heard plenty of talk about the paperless society.

Public questions large bank notes in Taiwan

TAIWAN - With Taiwan set to issue its first-ever NT$2,000 bank note on 1 July, consumers gave the new currency the thumbs down yesterday reports the Taipei Times on Wednesday.

Financial Sector Assessment Program

RESEARCH - Financial Sector Assessment Program-Experience with the Assessment of Systemically Important Payment Systems. Prepared by the Staffs of the International Monetary Fund and the World Bank, 19 April, 2002.

Banks gets electronic clearing system

UGANDA - The Uganda Banker's Association (UBA) and Bank of Uganda have introduced an electronic cheque clearing system, to replace the manual system, a statement from the bankers has said.

China's c bank steps up supervision on e-banking

CHINA - The People's Bank of China is requiring both local and foreign commercial banks to provide quarterly reports on their online banking operations in China, a PBOC notice issued on 23 April said.

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