FMI
Fed reveals final rules for fraud prevention adjustments
Rules released permitting debit card issuers to receive an adjustment for fraud prevention; maintains cap of one cent a transaction but simplifies requirements
Central Bank of Bosnia and Herzegovina reports drop in counterfeits
Figures show 76% drop in counterfeits recovered in Bosnia and Herzegovina; new banknotes with improved security features hailed for large reduction in fake currency seized compared to last year
Asia CCPs unlikely to fully comply with Iosco before end-of-2012 deadline
New levels of complexity and ongoing regulatory framework discussions mean full compliance with Iosco’s new principles is unlikely before the January 1, 2013 deadline
Bank of Namibia ‘inundated’ with scam complaints
Central bank worried by reports of a number of suspicious business offers; cautions members of the public to avoid any schemes that appear to be in contravention of the Banking Institutions Act
Ukrainians encouraged to hold savings in national currency
Director of National Bank of Ukraine’s Monetary Policy Department promotes hryvnia for savings purposes; tells public currency is sound and highlights uncertainty surrounding other currencies
Portrait of Eva Peron to appear on Argentine banknote
Argentine president decides Evita Peron will be first female to feature on Argentine banknote; commemorative issuance at first with plans for image to appear on all 100 peso notes
ECB reports decline in card fraud
First oversight report of card payment schemes in Sepa shows decline in fraud since 2007; lauds technological advances including chip and pin use for increasing the security of transactions
Bank Indonesia prepares payment systems for Eid
Indonesian central bank mounts campaign to get enough cash into the system prior to Eid celebrations; confident payment demands will be met
Indonesia enters China interbank bond market
Bank Indonesia and People's Bank of China reach agreement allowing Indonesian central bank access to China's interbank bond market; part of Chinese strategy towards internationalisation of the yuan
Central Bank of UAE enhances security features in banknotes
Fifty dirham note reprinted to include new colour-shifting thread; rest of design to remain the same
Fault found in new Namibian banknotes
Bank of Namibia investigating ‘cracking’ in new banknotes; asks public to handle currency with 'care and pride' and use wallets to limit damage to notes
UK Treasury proposes payments regulation overhaul
Government sets out options for changes to payments regulation in UK; favours creation of new ‘Payments Strategy Board’ to monitor industry and make recommendations
ECB reports drop in seized counterfeit euro banknotes
Number of fake euro banknotes withdrawn from circulation falls to 251,000; lowest amount of fake notes found since 2003
Singapore commemorates independence with heart-shaped coin
Monetary Authority of Singapore launches Singapore 47 Years of Independence commemorative coins; series includes the first-ever heart-shaped coin for the country
Thailand unveils royal family commemorative banknotes
Bank of Thailand reveals two new banknotes to mark Queen’s 80th birthday and the Crown Prince’s 60th birthday; special security features are included
Bank of Canada reports payment system developments
Report reviews Bank of Canada’s activities in promoting clearing and settlement systems; says operations support 'stability and efficiency' of financial system
Democratic Republic of Congo fights dollarisation
Central Bank of the Democratic Republic of Congo releases new high-denomination banknotes; move signifies efforts to limit dollarisation in the country but also poses inflation risk
Second wave of CSDs sign T2S framework agreement
A total of 15 central securities depositories sign T2S framework agreement in second wave; system set to go live in June 2015
Hungary launches same-day credit transfer system
Electronically submitted domestic transfers now reach destination within a maximum of four hours; improvement on previous system when payments took one business day
‘Branchless’ banking increasing in Pakistan
So-called 'branchless banking' transactions grew 23% between January and March this year; accounts linked to mobile phones reached over 1 million during the period
Namibia offers reward to catch head of counterfeiter ring
Central bank announces reward for information leading to the arrest of “main culprit” responsible for counterfeit notes found recently; fake notes discovered just days after new currency launch
New $50 note released in Trinidad and Tobago
Central bank issues new note as part of independence celebrations; limited number of new $50 banknotes carry commemorative message
BoE paper studies impact of Lehman’s collapse on payments
Bank of England working paper studies the effect of the Lehman Brothers collapse on wholesale payment patterns; finds slower payments and increase in risk following the default
Bank of England to post collateral in OTC derivatives trades
BoE thought to be the first major central bank to change policy on collateralisation as it seeks to reduce dealer funding charges