FMI
New Zealand payment systems under review
Reserve Bank of New Zealand announces review of its two large-value settlement systems; expects to sanction ‘significant upgrades’ to both within the next four years
Deploying ‘leapfrog' tech in Africa is no easy task, finds CBP Forum
Delegates and speakers debate technology outsourcing, data, staffing, project management and international co-operation at inaugural Central Banking Technology Forum
Nigeria could ditch polymer banknotes after six-year pilot
The Central Bank of Nigeria is considering reverting back to paper banknotes after using polymer for the past six years; spokesperson says it has ‘not had a good experience’ with the plastic notes
ECB prepares ground for new €10 banknote next year
New €10 note will be the second in the Europa series after the launch of the €5 note this May; Partnership Programme launched today will seek to smooth its introduction among stakeholders
OTC derivatives reform contains ‘real world challenges' says Fed governor
Jerome Powell says worldwide reform efforts will turn OTC derivatives market infrastructure into a ‘pillar of strength in the next crisis' if implementation challenges can be overcome
Israeli annual report for bank customers could be first step to reduce transparency 'knowledge gap'
Bank of Israel supervisor pushes for banks to provide customers with tailored yearly reports; UK consultancy says future lies in 'single online portal' for all financial products
ECB launches public consultation on mobile payments security recommendations
The governing council of the ECB asks market participants to comment on draft recommendations intended to make mobile payments more secure; interested parties have until January 31 to weigh in
Malaysia central bank opens office in Beijing
BNM's newly established presence reflects growing trade and financial ties with China; governor also reveals new renminbi liquidity facility and MoU to establish cross-border collateral arrangements
ECB's Mersch touts securitisation of SME loans as way of boosting EU economy
Executive board member says second priority after assessing banks' balance sheets is to support lending to SMEs by strengthening capital markets
BoE chief cashier says renminbi clearing bank would be 'valuable addition' for UK
Chris Salmon says a renminbi clearing bank would be a valuable addition to the UK's financial infrastructure, though there are 'many opportunities and ways' to clear renminbi transactions
Dominican Republic seeks damages after printer loses 8,500 banknotes
Defective banknotes worth an estimated 17 million Dominican pesos disappeared from French contractor in July; detected in the Caribbean country earlier this month, central bank says
Taiwan upgrading payments tech in RMB push
A deputy governor at the Taiwanese central bank reveals plans to expand the country’s new foreign currency clearing system to create technological backbone for offshore renminbi market
Canadian astronaut launches polymer banknotes
Former commander of the International Space Station marks the new $5 and $10 banknotes entering into circulation; senior deputy governor Tiff Macklem insists there is 'no chance' they will melt
RBI tries to persuade foreign banks to put down roots
Revamped framework unveiled by India's central bank yesterday will make it easier for foreign lenders currently operating through branches to set up wholly owned subsidiaries in the country
Russians vote to choose new rouble symbol
Central Bank of Russia says more than 102,000 people voted in the first day of its online poll to choose a symbol to represent the nation's currency; voting is open until December 5
Bank of England waging payment system war on three fronts
Chief cashier Chris Salmon says the central bank must contend with issues relating to cyber security, user access and new regulation within the UK payments infrastructure
BoE official calls for greater transparency on CCP margin modelling
Central counterparties should compete on quality of risk management, rather than a race to the bottom on margins, says Bank of England's head of payments and infrastructure
Swiss researchers sceptical about advanced settlement algorithms
SNB working paper says overhauling the algorithms used in the Swiss Interbank Clearing system would produce an ‘economically irrelevant’ reduction in settlement delay and ‘low’ cost savings
State Bank of Vietnam taps Thomson Reuters for FX monitoring system
Vietnam's central bank takes a step forward in increasing transparency and reporting in its foreign exchange market
Cœuré concerned over 'big bang’ payments migration
ECB says many member states are planning to migrate to the Single Euro Payments Area in the last quarter of the year; Benoît Cœuré points to operational risks of leaving it to the last minute
Malaysia deputy touts progress on money laundering, terrorism financing
Alshari Yahaya also notes due diligence in some instances remains inadequate and not reflective of the level of risks; says 'reward system' should reflect strong risk culture and performance
RBA proposes Australian Payments Council to strengthen industry coordination
Reserve Bank of Australia and industry body Australian Payments Clearing Association launch consultation on establishment of new payments council
ECB’s Cœuré laments slow payments progress
Benoît Cœuré says closer integration of payment systems in Europe would bring major benefits, but is being held back by limited efforts at standardisation; urges banks to innovate more
UK’s Chaps continues growth despite losses to Faster Payments
High-value payments system handled an increasing value of transactions in 2012 despite widespread migration to Faster Payments, according to first ever Chaps report