Financial Stability
Sia given green light to access Eurosystem’s instant payment system
ECB permits first network provider to give access to new Tips platform
Bank of Finland working on payments backup system
Board member says Finland must be able to maintain control of “critical infrastructure” should disruptions occur
Minneapolis Fed paper examines DNA of crypto assets
Cryptography can identify modifications in transaction records without a central structure
Weidmann calls for fiscal consolidation and sovereign risk reform
Bundesbank president maintains tough stance on key policy issues
Argentina abandons monetary financing to secure IMF support
Inflation targets raised as $50 billion IMF deal requires greater central bank independence
Icelandic central bank seeks to improve financial position
Bank cuts payments to commercial banks on deposits and may seek capital injection
Blockchain-based payment systems lack ‘capacity and efficiency’ – DNB
DNB tests show blockchain improving security but increasing costs and slowing speed
Libyan central bank and presidential council sign deal to ease austerity
Central bank agrees to provide regular cash grants to families
Book notes: Edge of chaos, by Dambisa Moyo
John Chown applauds Moyo’s analysis of how the current democratic framework is failing
Bank of Thailand to test use of digital currency for interbank settlement
Governor says bank is close to finishing proof-of-concept for digital bond issues
Resolution still essential for CCPs – BoE’s Cunliffe
Despite high loss absorbency, CCPs still need a resolution framework, deputy governor says
Sarb says blockchain project exceeds expectations
System has capability to process twice the number of transactions as the current RTGS system
RBI pledges to create public credit register
Existing system is fragmented, making it hard to accurately assess a borrower’s credit history
Riksbank says Nordea’s relocation to Finland could increase financial risks
ECB expected to decide later this month whether to grant banking licence to Nordic lender
DNB develops new instant payment network
Banks will be able to process payments within seconds by mid-2019, the central bank says, but evolution of cash infrastructure will continue
Is the US dismantling Dodd-Frank?
Richard Heckinger asks whether recent amendments to the Dodd-Frank Act amount to technical tweaks or full-scale rollback
Bank of Botswana urges government to reduce reliance on diamonds
Central bank believes demand for commodity is likely to dwindle in the future despite global recovery
Visa outage highlights fragility of electronic payments
European network experiences outage for several hours on June 1, due to hardware failure; consumers forced to withdraw cash to make payments
Barbados calls for help from IMF as economic situation worsens
Fund to provide technical assistance with new economic plan as government suspends debt payments to external creditors
PBoC’s Yi dampens market excitement on liberalisation
China rolled out series of liberalisation measures in recent months, but further action will only be gradual, says central bank governor