FMI
CPMI digs into data on correspondent banking pull-back
Study based on Swift data and banking interviews sheds light on uneven pace of decline in correspondent banking; CPMI offers recommendations to help reverse direction of travel
Norges Bank questions contingency plans for cash distribution
Report warns Norwegian banks’ back-up plans “may prove inadequate” in a crisis; both the central bank and financial supervisory authority in communication with the finance ministry
Swift brings in external firms to support security work
UK firm BAE Systems and Dutch company Fox-IT will be part of effort to strengthen cyber security; Swift says information-sharing initiative has “grown significantly” since launch
Eastern Caribbean ACH enters second phase of implementation
ECCB annual report sets outs progress so far; electronic payments and US dollar cheques to be processed through the Eastern Caribbean Automated Clearing House
CPMI-Iosco launch plan for two-hour cyber attack recovery
First internationally agreed guidelines for cyber resilience tell FMIs to plan for resumption of services within two hours of an attack; firms will have 12 months to prepare
Dombret warns clearing and securities depository business may leave London
Bundesbank’s Andreas Dombret said London’s pull as a venue for euro trading would “shrivel” if the UK voted to leave the EU; warned EBA would need to find “new home”
BoJ aiming to make better use of upgraded settlement system
New version of BoJ-Net carries various advantages and has seen growing settlement volume, but the central bank wants to push this further
Electronic payment system standards will be a 2016 priority, EBA says
Developing technical standards for European electronic payment systems will be a priority for 2016, the EBA says; authority will continue to work closely with ECB
Reserve Bank of Zimbabwe cuts electronic payment charges to tackle cash shortage
Central Bank introduces latest measure to combat cash shortage by encouraging use of electronic payments; mobile payments on the rise but card use still low
PMA aims for better credit allocation with upgraded scoring system
Palestine Monetary Authority rolls out latest version of its credit scoring system; new categories and adjusted variables designed to improve credit allocation
Norges Bank deputy: lack of common infrastructure hampers faster payments
Limited collaboration between banks in Norway is hampering availability of real-time payments and causing Norway to fall behind, Jon Nicolaisen says
LCH first clearing house to sign up to ISO 20022 harmonisation charter
Charter produced by Swift sets out measures for harmonising the implementation of ISO 20022; LCH.Clearnet Group becomes the first CCP to sign up
Cambodian central bank says $8 million grant will boost retail payments
National Bank of Cambodia announces grant from South Korean government to help develop payments infrastructure; hoping to discourage cash usage and support inclusion
Afghanistan needs to use mobile money better, governor says
Mobile payments cut costs and risk, but take-up is hampered by lack of awareness, confidence and an “all-inclusive ecosystem”, says Sediq
RBA caps interchange fees and surcharges
Reserve Bank of Australia completes two-year card review, implementing reform around surcharges and interchange fees; regulation now applies to ‘companion cards’
Swift to roll out cyber security programme
CEO announces five-part initiative, with improved information sharing a key element; full details to follow this week
Annual Target2 volumes fall, ECB announces
Transactions on the eurozone’s real-time gross settlement system fell to their lowest-ever level in 2015; ECB concerned this could threaten cost recovery
RBA's Edey signals end to lengthy card review process
Assistant governor lays out issues review will address when it is published next week, following two-year process
BoJ keeping options open on new technologies
Deputy governor Hiroshi Nakaso says the Bank of Japan is not planning to issue a digital currency any time soon, but is exploring the possibilities created by technological innovations
BoE paper: CCP legal framework may need work
Process of handling default is legally robust in many cases, but has room for improvement in others, authors say
Research considers use of blockchain in securities settlement
Paper published by SWIFT Institute says full application of technology could lead to, and would require, change in existing business processes in the industry
Liikanen anticipates more changes to come from digitisation
Many new actors in the payments system in recent years have still made use of existing instruments, Bank of Finland governor says – although this could change in the future
New York Fed official stresses third site capacity for FMIs
Richard Dzina argues systemic FMIs should consider maintaining technologically diverse third site solutions to successfully deal with present cyber challenges
Bank of Canada identifies first ‘prominent' payment system
The Automated Clearing Settlement System is considered "central" to Canadian payments and must now meet risk management standards based on global PFMI