FMI
Target2 values drop by €150 trillion as ECB changes statistical methodology
European Central Bank excludes overnight deposits from data sample; values processed by Target2 drop from €643 trillion in 2012 to €493 trillion in 2013 as a result
Euro Retail Payments Board sets out work plan in wake of Sepa migration
The board creates two working groups in its first meeting; one on post-migration issues, the other on finding Europe-wide solutions for securing electronic mandates for direct debits
PBoC favours London as offshore RMB hub, says leading Chinese banker
The Chinese government and central bank 'think very highly' of London, says top Chinese banker who predicts the City will play a key role in renminbi internationalisation
EC tackling final questions on CCP resolution
The European Commission is drawing up proposals on the recovery and resolution of CCPs, but a number of tricky questions still have to be answered
MMA governor: Maldives has 'unprecedented opportunity' to put economy in order
Azeema Adam says the Maldives Monetary Authority is reviewing regulations in a bid to unburden country's financial sector
Islamic investors must expand out of real estate, says Bahraini central banker
Abdul Rahman Al Baker says it is critical for Islamic financial institutions to better understand clients' needs
Central Bank of Kuwait puts own building on new banknote
Banknote series unveiled yesterday will come into circulation on June 29; new features include raised print to help blind people tell which note they are holding
Governors launch East African Payments System
East African Community presents new market infrastructure and plans to boost currency convertibility; Kenyan governor sets out monetary policy priorities for the region
Mersch: regional currencies are flawed
ECB executive board member warns that regional money can hamper trade between different parts of the country, while costing commercial partners the opportunity to grow
CLS says it will adhere to US sanctions on Russia
The ruble looked set to become the 18th currency to be settled through CLS, and while both the CBR and the industry utility are committed to the deadline, political uncertainties remain
Central bank support for CCPs and TRs
The wider use of central counterparties and trade repositories may pose challenges for central banks. Carlos León, Clara Machado and Ricardo Mariño explain the tactics central banks are adopting.
New Zealand securities settlement system could go private
Reserve Bank of New Zealand issues public consultation on future of two major settlement systems; NZClear could be separated from Esas and moved into private sector
ECB turns attention to single card payments area
Card payments are lagging credit transfers and direct debits when it comes to harmonisation across the eurozone; ECB calls for "considerable efforts" to rectify this
Bulgarian National Bank selling 64 tonnes of scrap coins
Bulgarian central bank set to sell 64 tonnes of defunct old coins to the highest bidder, who will melt them down for scrap
Predictive text: Bank of Lithuania prepares to announce euro adoption by SMS
The Bank of Lithuania strikes a deal with mobile operators to text their customers if and when the EU Council names the country as the 19th member of the eurozone
Hungary central bank buys interbank clearing company Giro
Central Bank of Hungary aims to buy out remaining minority shareholders in the country's provider of interbank settlement services over the next two months
Central Bank of UAE opens first ever discount window
The Central Bank of the United Arab Emirates will introduce a standing liquidity facility next week, offering banks overnight loans at 100 basis points above official repo rate
Iceland prepares to phase out smallest banknote
Central Bank of Iceland hints at replacing the 500 krónur banknote with a coin, and scrapping the three lowest value coins altogether; introduced new 10,000 krónur note last year
St Louis Fed research chief calls Bitcoin ‘stroke of genius'
St Louis Fed vice president and head of research has raised some central bankers' eyebrows by encouraging them to ‘welcome the competition' from the virtual currency
Kenya's M-Pesa mobile money app launches in Romania
East European country is the first territory in Europe to get the mobile cash transfer technology, which also launched in India last year
Fed switches MBS purchases to proprietary platform
The New York Fed, which implements FOMC policies, will start using its FedTrade platform to buy mortgage-backed securities later this month
Bank of Namibia replaces ‘ageing’ banknotes one year after issuance
Central bank reissued the lowest denomination banknotes in its 2012 banknote series after they were found to be ‘ageing faster than expected’
Richmond Fed study shows 'dramatic crossover' in payment methods of US citizens
Study evaluates Fed data tracking 2,500 participants making close to 13,000 payments during three days in October 2012, shows many seniors sticking to mail as main payment method
Germany pips UK to renminbi clearing deal
Deutsche Bundesbank signs MoU with People’s Bank of China three days before the Bank of England; agreements pave way for first two clearing banks outside Asia