FMI
Philippine banks migrate to new remittance payments system
Central Bank of the Philippines says all twelve participating banks are using new electronic payments system for remittances
ECB’s Tumpel-Gugerell on Sepa end dates
European Central Bank member executive board Gertrude Tumpel-Gugerell says meeting Single Euro Payments Area end dates is a requirement for migration to new system
De La Rue set to name new chief executive
Former Chloride president Tim Cobbold is “preferred candidate”; news comes after company says paper scandal has had “significant” impact on revenues
RBA plans to sell scandal-hit Securency
Reserve Bank of Australia plans joint sale of polymer subsidiary following alleged bribery scandal
ECB could offer governance concession on T2S
European Central Bank could modify governance arrangements of its settlement platform in a bid to entice sterling to join
Sarb’s Mminele on payment system reform
South African Reserve Bank deputy governor Daniel Mminele says international payment system should receive special attention
ECB approves Target2-Securities baseline price
European Central Bank’s Governing Council agrees to fix the transaction cost for Target2-Securities at 15 cents per transaction but attaches conditions
SNB: immigrants reduce seigniorage
Swiss National Bank study shows increase in immigration reduces seigniorage for banknotes
No single structure for clearing industry: CPSS
Bank for International Settlements report on clearing industry says differences in market structures reflect diverse sets of risks to operations
Palestine launches new RTGS system
Palestine Monetary Authority Real-Time Gross Settlement system allows for developments in online and mobile banking
Philippines’ Tentangco on launch of new ATM project
Central Bank of the Philippines governor Amando Tetangco says new ATM project will create more compatibility
Interview: Linah Mohohlo
The governor of the Bank of Botswana talks about how the country avoided the resource curse and efforts to develop its financial markets.
Bank on payment splitting
Bank of England study shows quantity of liquidity necessary to settle payment depends on threshold for payment splitting
Bank to increase £5 notes in circulation
Bank of England will increase number of smallest banknotes in circulation; will also increase number of automated tellers dispensing the note
EPC chairman 'shocked' at Brussels' 'competing' Sepa schemes
European Payments Council chair slams European Commission's willingness to allow operation of multiple, national Sepa schemes; says plan would thwart aims of Sepa
Global payment volumes grow 9%
Payments withstand financial crisis, spurred by surge in non-cash payments in some developing countries
Fed and Equens open transatlantic payment channel
Federal Reserve-operated ACH and Dutch-German payments processor connect US to 22 countries in Europe for low-value payments in dollars, euros and sterling
Bundesbank ups compatibility of clearing system
Bundesbank strikes deal with payments processor Equens on more interoperable clearing systems to improve market efficiency
ECB calls for law enforcing Sepa migration
European Central Bank says legislative action on migration of Sepa scheme needed as self-imposed deadline will not work
Colombia revisits currency redenomination debate
Central Bank of Colombia governor José Darío Uribe says there are benefits to be had from redenominating peso, despite costs
ICFA talks Target2- Securities with the ECB
Jean-Michel Godeffroy, chairman of the T2S programme board at the European Central Bank, talks through the future of the settlement platform with Melanie White of ICFA Magazine
Hungary sets four hour limit for retail payments
National Bank of Hungary issues decree requiring banks to settle electronic payments within four hours; move may cost banks up to $40m, admits deputy
RBNZ, NZX ink MoU on connected clearing system
Reserve Bank of New Zealand agrees with Wellington-based stock exchange on separate but connected clearing and settlements systems
T&T solves remittances anomaly
Central Bank of Trinidad and Tobago study explains drop in remittances to developing world