FMI
UK cash system needs revamp, says Payment Systems Regulator chair
Charles Randell tells lawmakers the regulator will look at entire cash provision infrastructure in 2019
For-profit CCPs may not hold socially optimal capital – BIS paper
“For-profit CCPs have incentives that are misaligned with financial stability,” author says
Thailand and Cambodia join forces on QR code network
Central banks to pilot QR code network for retail payments
UAE central bank and Sama partner for blockchain project
New system will provide central financial transfer system that aims to make the process of remittance payments more efficient
Bhutan strengthens relations with India through payment co-ordination
New proposals will limit the number of tourists having to bring cash into the countries as ATMs and POSs become interoperable with local cards
Vietnam continues with payment card upgrades
Banks must phase out magnetic strip cards by 2021
Europe approves post-Brexit CCP and CSD framework
EC adopts temporary regime to allow UK CCPs and CSDs to continue operating for 12 months after Brexit; BoE and Esma in talks to ensure efficient supervision
Mozambique sources new payments IT provider after dispute
Payment dispute pushes central bank to speed up unification of payment systems; US-based firm chosen to supply computer system for interbank network
South African central bank launches review of payment system
Sarb says its regulatory mandate needs more clarity and calls for more powers over fintech
Rwanda upgrading payment infrastructure on all fronts – annual report
Government officials no longer have to visit the central bank to make a transaction
Riksbank considers joining EU’s faster payments system - deputy governor
Cecilia Skingsley says Riksbank is reviewing how it distributes central bank money
Mozambique’s payment system provider cuts off service
BizFirst says it has not been paid by the banks or the country’s central bank for use of its software
Research project weighs bold plans for cross-border payments
One possibility is to create a single global central bank digital currency
EU offers Iran sanctions relief with new clearing house
Iran retains access to Swift network despite US sanctions, but new clearing house could provide permanent loophole
BIS committee finds inadequacies in derivatives data
Challenges remain, despite significant progress, Irving Fisher Committee reports
RBI fights plan to strip it of payment powers
Central bank fears move would undermine its ability to regulate currency
Exchange chiefs back Giancarlo in tussle over CCP oversight
CFTC may block US CCPs from acceding to EU supervision
Swift calls for standard API methodology
Open banking ecosystem will only succeed if standard-setters create universal method for API specifications, payment provider says
Fraud growing faster than non-cash payments, Fed finds
Cases of payments fraud are getting smaller but more common, survey finds; introduction of chip-based cards appears to have helped reverse the trend
UK payment service providers at risk under ‘no deal’ Brexit
Payment service providers risk being locked out of Target2 and Sepa
Mersch issues warning to European payment providers
European firms must innovate or risk being competed out of instant payment sector
Euroclear to offer US dollar settlement in central bank money
New settlement should reduce credit and operational risk on settlement banks
HKMA launches new faster payments system
New system will reduce transaction time and scrap interbank fees
EU countries to build payments link with Iran
“Special purpose vehicle” designed to allow “legitimate business” with Iran, despite US sanctions