FMI
China and Hong Kong double currency swap agreement
Hong Kong and China double currency swap arrangement; Hong Kong pushes to remain number one offshore renminbi business centre while China proceeds with internationalisation of renminbi
Industry praises expansion of South Korea’s currency swap arrangements
Senior executives of large enterprises praise Bank of Korea for expanding currency swaplines with Japan and China; industry concerned about slowdown caused by eurozone crisis
Greek reversion to drachma easier than euro conversion, say analysts
If Greece were to leave the eurozone it would have to establish a new currency in record time; analysts explain how the process would be simpler today due to technological advances
Bank of Canada launches first polymer banknote
Bank of Canada issues first new polymer C$100 banknote into circulation; governor Mark Carney says new bills are at the frontier of banknote technology
Libyan treasure looted from commercial bank
Reports emerge from Libya's National Transitional Council that more than 7,000 coins were stolen from a commercial bank in Benghazi during conflict
Thai banks to 'scale down' operations as floods hit Bangkok
Central bank tells financial institutions to “scale down” to only essential operations in order to safeguard employees; inflation report shows contraction in Thai economy this year
Cash is still king in low-value transactions: Bank of Canada paper
Bank of Canada study shows cash is still used intensively for low-value transactions due to its speed, merchant acceptance and low costs
Iceland splits financial stability and payments department
Central Bank of Iceland splits financial stability and payments group into two distinct units to improve function; new director hired for financial stability department
European Payments Council raises concerns over Sepa regulation
Representatives from Europe's payments industry say European Union proposals for Sepa regulation are an attempt to abolish preferred direct debit model in region
BoE’s Salmon discusses latest banknote security features
Bank of England banking services executive director Chris Salmon explains use of motion thread in new £50 banknote
Liquidity concerns explain high level of cash transactions: Bundesbank paper
Bundesbank study says high percentage of cash transactions due to consumers' willingness to monitor liquidity
ECB announces new T2S start date
European Central Bank announces T2S project to launch in June 2015; key changes demanded by Advisory Group behind delays
Developing country scoops currency award
Ugandan shilling wins 2011 Best Series Award from International Association of Currency Affairs
Luxembourg launches new central securities depository
Central Bank of Luxembourg prepares for adoption of Target2-Securities with launch of new central securities depository LuxCSD
Lithuanian central bank assists in counterfeit banknote investigation
Bank of Lithuania says it will help police in investigation to uncover source of recent rise in counterfeit banknotes
ECB paper reviews euro area credit card interchange fees
European Central Bank study calls for fresh look at credit card interchange fees in euro area
Riksbank narrows banknote design contest
Swedish central bank selects eight finalists out of 46 entrants to go on to final stage of krona banknote design competition; winner to be announced next April
ECB’s Constâncio stresses commitment to T2S settlement platform
First ever Europe-wide platform for settlement of bonds and equities trades has ECB’s full support; will play a crucial role in future of the single market, says Vítor Constâncio
Demise of cash ‘vastly exaggerated’: MAS’s Menon
Monetary Authority of Singapore managing director Ravi Menon says he expects cash to continue to have a crucial role in economy in future
Finland announces markka conversion deadline
Finns have until February 29 to change markka banknotes and coins to euro; currency outstanding valued at $386 million
UK reveals design of new banknote
Bank of England to release new £50 banknote in November; design features British businessmen Matthew Boulton and James Watt
ECB policy would shatter big CCPs, critics warn
Plans to have CCPs based in the jurisdiction of the currency they clear would pull apart multi-currency services, experts warn, after UK Treasury challenges ECB
NBD paper assesses impact of credit card surcharge on cash payments
National Bank of Denmark study shows new credit card surcharge did not cause shift towards greater cash payments