FMI
Thailand and Hong Kong launch cross-border settlement scheme
Bank of Thailand and Hong Kong Monetary Authority look to eliminate cross-border settlement risk through establishment of Asia's third PvP link between different currencies
Bank of Lithuania refashions calculation for interbank lending rate
The central bank is replacing interest rates with credit ratings as basis for bank quotes
China unveils raft of reforms to liberalise the renminbi
Series of reforms will facilitate cross-border renminbi settlement; RQFII programme has also been extended to Singapore and London
Polish banks set up joint standard for mobile payments
Participants expect the joint venture to provide a boost to non-cash trading and, by extension, business effectiveness
Banknote counterfeit threat carries significant social costs, paper finds
Bank of Canada working paper shows central banks are right to ‘actively respond' to the threat of counterfeiting despite the small incidence of fraud, due to the social costs of the perceived threat
Finance sector balance sheets vital for monetary policy transmission, IMF paper shows
Balance sheet effects are comparable in magnitude to the traditional interest rate channel in transmitting monetary policy, say IMF researchers
BoE's Tucker wants immediate 3% leverage ratio in UK
BoE deputy governor Paul Tucker calls for 3% leverage ratio to be imposed immediately on UK banks; says banking crisis has taken capacity out of financial system
UK's Royal Mint brings back golden guinea to mark 350th anniversary
New £2 coin designed in the style of the now disused guinea, featuring the crest of King George III; coin will enter circulation later this year
Hong Kong launches renminbi Hibor fixing
New offshore benchmark rates to be produced starting next week; HKMA to provide oversight and surveillance of contributing banks' internal systems to ensure 'integrity' of submissions
Survey finds Lithuanians lack opportunities to use payment cards
Survey respondents would like to pay by card at places that currently do not accept them - but paying through mobile phones is still beyond the pale
UK Payments Council prepares 'roadmap' for reform
'Payments Roadmap' seeks to boost competition and innovation in UK payments, even as a government consultation leaves the future of the Payments Council in doubt
National Bank of Austria vice-governor faces bribery charges
Wolfgang Duchatczek and eight others charged with bribery in connection with note-printing deals with Syria and Azerbaijan
Ibos warns of payments disruption as Sepa deadline set to be missed
Banking association says 2014 Sepa migration target will be missed at current pace, which could see systems shut down and payments fail; harmonisation may be limited even when target met
People: Poloz names special advisor; BoE appoints insurance specialist to PRA
Bank of Canada appoints senior advisor to the governor; UK's Prudential Regulation Authority names final independent director; payments systems Bacs and Chaps appoint new chairmen
Ukraine caps cash use in bid to boost e-payments
National Bank of Ukraine hopes to deliver a wide range of benefits by imposing limits on the size of cash payments
ECB issues draft regulation on systemically important payment systems
Central bank seeks comment on draft regulations implementing CPSS-Iosco Principles for Financial Market Infrastructures, for systemically important payments systems in the eurozone
BoE chief cashier looks forward to further innovations in the use of cash
Chris Salmon, chief cashier and executive director for banking services at the Bank of England, says ‘local recycling' of cash in ATMs poses questions over authentication
Financial exclusion in Europe driven by move away from cash, study finds
New report from Brussels-based pressure group finds financial exclusion is a growing phenomenon as cash falls out of favour for everyday transactions
Riksbank predicts ‘elimination’ of retail payments competition
Sweden’s retail payments market is expanding but Sveriges Riksbank says larger players will prevail and smaller companies ‘will be eliminated’
EC recognises member state fears that FTT will hurt clearing
Tax liability could send CCPs "directly into insolvency" warn Czech officials in leaked document
UK consumers drop cash in move towards mobile payments
British Retail Consortium says cash usage fell sharply last year, while research by VocaLink finds a strong uptake of mobile payments by consumers, though retail payments are still dominated by cash
RBA considers overhaul to card access regimes
Reserve Bank of Australia launches consultation on whether to change or revoke rules governing access to credit and debit card systems – which might allow the RBA itself to acquire cards
Central bank operations push up Target2 turnover
ECB annual report says central banks helped push the value of payments in Target2 system to €634 trillion in 2012; balances diverged as German claims and Spanish liabilities increased
German banks adopt Step2 for domestic payments
EBA Clearing reveals seven German banks will use the Step2 payments system to process and clear their domestic payments, converting in the second half of 2013