FMI
Dollar and renminbi can coexist as global currencies, Eichengreen says
Bank of Korea paper finds that ‘networks are open and several international currencies can coexist’, suggesting the dollar and the renminbi will share the role in the future
Carney launches review into RTGS failure
Independent review will look into ‘technical issue’ that knocked RTGS system out of operation yesterday, and consider the central bank’s response
Bank of England resumes settlement after 'technical issue’
UK’s high-value payment system was ‘paused’ for several hours today, but is now back up and running; central bank extends opening hours to deal with backlog
CPMI-Iosco report recommends tools for recovering FMIs
Report lays out toolkit for maintaining critical services and restoring stability in the event a financial market infrastructure comes close to collapse
Colombian paper analyses financial networks
Working paper finds central financial institutions ‘tend to overlap across financial networks, thus their systemic importance may be even greater than envisaged’ in alternate models
Bank of Canada will consult public on future banknote designs
Bank of Canada launches a nationwide consultation on banknote design principles, after a report concluding that Canadians should have increased participation in the process
Swift resists ‘political pressure' to disconnect Russian and Israeli banks
Brussels-based cooperative says calls for exclusion undermines ‘systemic global character' of its services; previously condemned EU parliament resolution in September
RBA’s Stevens lauds ‘substantial’ progress towards real-time payments
Reserve Bank governor says Australia is now closer to delivering ‘real-time, data-rich payments’; first meeting of the Australian Payments Council expected this month
Central Bank of Nigeria implements ‘sanctions screening' service to combat financial crime
Swift service helping banks meet global best practices on financial crime will be functional in January; step towards realising 2020 ‘payment system vision'
National Bank of Denmark narrows range of collateral it accepts
Financial market ‘normalisation' provides ‘opportunity' to omit assets made eligible after crisis to keep Danish banks from borrowing in euros
Bundesbank unveils new card clearing infrastructure
Bundesbank and EBA Clearing launch new XML-based infrastructure for card clearing; payments chief says it allows banks to ‘leverage’ their Sepa investments
PBoC sanctions direct trading between renminbi and euro
People’s Bank of China names euro as latest currency to be directly tradable with the yuan on the Chinese interbank market
RBA’s Richards outlines fast settlement service at Chicago symposium
Reserve Bank of Australia head of payments policy says the fast settlement service on the country’s new payments platform will be able to deal with ‘very short response times’
Portuguese central banker warns new €10 banknote may not be accepted by all vending machines
Bank of Portugal board member says he cannot guarantee the note will be accepted by all machines, as owners are responsible for making necessary software changes
Financial liberalisation much more encompassing ‘than just technical lifting of controls'
Market participants face numerous unexpected challenges as they adapt to more liberal operational environments, says Bank of Finland board member at China financial liberalisation event
Barnier hints at longer pensions clearing exemption for OTC derivatives
The EC's outgoing head of internal markets, Michel Barnier, has hinted the Commission will extend a pension funds derivatives clearing exemption beyond 2015
Mobile money accounts trump number of adults in Kenya, IMF data show
African bank depositors increased five-fold between 2004 and 2013, IMF's fifth annual Financial Access Survey shows; includes data on mobile money for first time
‘Flower power’ drives new Dominican Republic banknote series
The Dominican Republic is issuing upgraded banknotes to include the country’s new national flower; Israel and eurozone also introducing new notes in the market
Mersch: T2S may prompt ‘more global network for mobilisation of collateral assets'
ECB board member says Target2 offers 'possibilities for linkages' between T2S central securities depositories with those 'from other geographical areas'
Banks must ‘rediscover' relationships with companies, Italian deputy says
Salvatore Rossi says better understanding of companies by banks would complement capital market intermediation as ‘only banks can acquire direct knowledge of firms'
PBoC designates renminbi clearing banks for France and Luxembourg
Bank of China and Industrial and Commercial Bank of China to serve countries' offshore RMB markets
Palestine Monetary Authority launches new clearing system
Automated clearing system developed in Palestime with technical assistance from the World Bank and Bank of Italy; part of PMA’s wider plans to upgrade retail payment infrastructure
Key innovation behind Bitcoin could prompt ‘fundamental change' to payment systems
Article published by Bank of England says ‘distributed ledger' technology could have ‘much broader' impact beyond payment systems
LCH payments system raises concentration concerns
A large proportion of cash payments between clearing members and LCH.Clearnet are processed by just two banks, raising concentration risk concerns from banks and regulators