FMI
ECB paper flags risk of ‘collateral damage’ from financial transaction tax
Working paper finds an increase in transaction costs, such as the financial transaction tax mooted in the EU, could impact the availability of collateral and damage market liquidity
Collateral impact from eurozone QE still unclear, says Euroclear’s Evenepoel
Effect of new liquidity regulations and eurozone quantitative easing on collateral is still uncertain, but the market is ‘always creative’, according to Euroclear’s head of treasury
EBA prepares to toughen European payments regulation
Plans in motion for tougher and more harmonised retail payments regulation in Europe; EBA names which national regulators have failed to comply with online payment guidelines
Euroclear and Clearstream granted time to agree joint road map
Both ICSDs intend to start a feasibility assessment for real-time settlement after the completion of Target2-Securities migration in June 2017
NYSE offers exchange-calculated bitcoin index, with more to come
The New York Stock Exchange announces launch of NYSE Bitcoin Index, the first exchange-calculated and disseminated bitcoin index
ECB looks for ‘quick wins’ to put momentum behind CMU
Eurosystem report on capital markets union emphasises need for the project to deliver early victories if it is to gather enough momentum to be a success
Central Bank of Bahrain director plots route to ‘vast’ Islamic financial market
Abdul Rahman Al Baker sees great potential in Islamic financial markets but outlines the many areas in which obstacles remain
Deutsche Börse to set up Europe's first multi-asset RMB platform
German exchange group signs joint venture deal with CFFEX and Shanghai Stock Exchange to bring trading venue to Frankfurt
Eurozone moving towards ‘single market for collateral’, say central bankers
Panellists from Belgian, French and Dutch central banks discuss moves towards harmonised collateral markets in Europe at conference in Brussels
Top Thai regulator advises Asean neighbours to open markets slowly
Bank of Thailand regulatory policy director warns Laos and Vietnam liberalisation could cripple their banks if conducted too quickly
Malaysia deputy governor says better credit reporting crucial to Asean integration
Asean Economic Community faces challenging test of successfully integrating regional financial markets, Bank Negara's Muhammad bin Ibrahim says
BoJ’s Sato outlines efforts to reform repo market
Board member says Bank of Japan is seeking to improve repo market functioning with reforms targeted at transparency, stability, efficiency and globalisation
Governments should work to promote ‘e-commerce’, UN report says
Research presented at the National Bank of the Republic of Macedonia outlines policies governments should pursue to harness the benefits of e-commerce
Hong Kong 'coin carts' rake in cash
Hong Kong Monetary Authority trucks will collect coins from the public; so far, 87,000 people have traded in 78 million coins worth HK$77 million
Opposition from big banks to RBA interchange fee curb
Large commercial banks and payments providers warn of damaging impact of regulating interchange fees, but smaller challenger payment systems are broadly in favour
RBA paper finds high social cost to counterfeiting
Researchers try to put a figure on how much counterfeit banknotes cost the economy; Australian economy suffers from lower counterfeiting than elsewhere
Argentina cabinet chief rejects analysis in IMF report
Argentina needs ‘tighter macroeconomic policies, a weaker exchange rate and less microeconomic distortion,’ argues IMF outlook; cabinet chief dismisses analysis
Central Bank of Timor-Leste launches e-payments network
The ‘highly secure private interbank data network’ allows electronic payments to be made and received between any individuals or companies on the same day
Central Bank of Bahrain upgrading market infrastructure
Central Bank of Bahrain is upgrading market infrastructure and enhancing supervision of listed companies, announces governor Rasheed Al Maraj
Dutch paper finds public campaigns can boost debit card use
Working paper examines a campaign run in the Netherlands in 2007, finding it led to debit card use increasing by 2%; effects most prominent at early stage of campaign
Argentines ask central bank for higher-denomination banknotes
Argentine bankers’ associations urge the central bank to print higher-denomination banknotes, as ATMs filled with 100 peso notes struggle to meet public demand
Malaysia launches new payments system to boost online transactions
Malaysia’s central bank aims to simplify online payments with new ‘JomPAY’ platform, which has the goal of reaching 5,000 merchants by 2020 and reducing usage of cash and cheques
Colombian paper analyses intraday liquidity needs
Intraday liquidity risks can be ‘mitigated or even eliminated’ if entities have higher opening balances than the balances required to opportunely liquidate all payment obligations, paper finds
MAS to launch 'unique' government-guaranteed retail bond
Interest on the non-tradable, 10-year bond will increase annually and savers can bow out at any time; product is unique in Asia, analyst says