Financial Stability
ATM scam losses minimal says UAE cb
The UAE central bank, which has been a victim of an ATM scam, has reassured the public that "the situation is under control" and losses are not serious, according to Gulf News. The bank is taking precautionary measures.
Bulgaria's central bank launches RINGS system
The National Bank of Bulgaria put its new Real-time Interbank Gross Settlement System (RINGS) into effect on Tuesday 3 June, Novinite reports. It will make possible operations with payments in euros following Bulgaria's accession to the European monetary…
RBI defends certain coins as legal tender
The Reserve Bank of India made a statement following rumours that some coins had ceased to be legal tender, the Economic Times reports. Contrary to certain media reports, the central bank said, coins of 5, 10 and 20 paisa can still be used.
Swedish central bank issues commemorative coins
Sveriges Riksbank issues commemorative coins to commemorate the 700th anniversary of the birth of Saint Birgitta, 27 May 2003
Chicago Fed 2003 Payments Conference
The Federal Reserve Bank of Chicago's third Payments Conference, Can Existing Payment Networks Meet Future Needs, will be hosted at the Chicago Reserve Bank on May 29-30, 2003.
Zimbabwe bank notes crisis worsens
Tuesday May 27 saw a worsening of the bank note shortage in Zimbabwe, according to The Herald Online, with some banks running out of notes and long queues at ATM machines.
Electronic Money System Security Objectives
Electronic money system security objectives according to the common criteria methodology, 23 May. The "Electronic Money System Security Objectives" (EMSSO) report, published on Friday, presents the expectations of the Eurosystem with regard to the…
RBA says it did its homework on credit cards
As the court action continues in Australia over the RBA's introduction of credit card reforms, the Sydney Morning Herald reports that the Reserve Bank's counsel has accused counsel for Visa and MasterCard of drawing selectively from documents in putting…
Reserve Bank of Australia "rushed" card reforms
Australia's Federal Court heard Thursday that the Reserve Bank had rushed through reforms of the Australian credit-card market because an ACCC price-fixing action against National Australia Bank was about to fail, according to a report in The Age.
ECB eye Hitachi micro chip to prevent note forgery
A report noted by Kyodo Newsby says the European Central Bank is looking into the idea of using integrated circuit chips in bank notes to prevent forgery.
Lebanon c bank asks IT experts about web security
The central bank of Lebanon has invited all Lebanese and foreign companies in the area of IT to a general pre-qualification process for the creation of a secure IT infrastructure for the central bank, according to The Daily Star.
Reserve Bank overplayed its hand, says Visa
The start of the law suit bought by major credit card companies against the Reserve Bank of Australia heard arguments on Tuesday 20 May that the central bank had overstepped its statutory powers by introducing reforms to credit card interchange fees,…
Lebanon c bank to launch electronic bank service
The central bank of Lebanon announced the launch of secure electronic banking and information for Lebanon (SEBIL) on Friday 16 May, reports the Middle East Financial Network. The new system provides identification authorization, cryptographic services,…
Visa starts court case against RBA over reforms
On Monday 19 May Visa International began legal action in court against the Reserve Bank of Australia, claiming that the RBA did not have the power to undertake sweeping reforms of Australia's credit card industry, according to Associated Press.
Cleveland Fed Banking and Payments Workshop
The Federal Reserve Bank of Cleveland's Central Bank Institute is holding a Banking and Payments Workshop from 19-21 May. Contributors are a mix of academics and central bankers with discussions including 'The ABCs of Money and Banking', 'Money in a…
BOG launches Interbank Settlement System
The central bank of Ghana (BOG) launched the Ghana Interbank Settlement (GIS) System on Thursday, reports GhanaWeb, with the governor of the BOG calling it the most efficient inter-bank money market in the West African Sub-Region.
U.S. Treasury remakes $20 to stop counterfeiters
The new US $20 note unveiled by the Bureau of Engraving and Printing on Tuesday includes the first change in the colour of U.S. currency in almost a century, Reuters reports
Hitting the target
Target2 presents an opportunity to rationalise and modernise the euro clearing and settlement process. The ECB needs to look beyond RTGS argues Mike Evans.
No honeymoon for Fukui
The world is looking for fresh, decisive policies from the new central bank governor. What can he do? Tomohiko Taniguchi reports from Tokyo.
How Fukui should deal with deflation
In the first of a two-part feature on Japan, Andrew Smithers discusses the economic solutions and political obstructions to reviving the stagnant economy.
Why finance gives the West a bad name
Robert Pringle, editor of Central Banking, finds much to ponder over in the latest books on money and globalisation.
Central banks in transition
– Kazakhstan, Georgia and Turkey –
The stability and growth pact: next steps
A flexible and cyclical assessment of euro countries’ finances will mean earlier warnings from Brussels. Has the pact bounced back? William M. Clarke reports.