Financial Stability

The big problem of small change

FEATURE - It is a curious fact, writes Paul Podolsky in Thursday's Wall Street Journal Europe, that the world's most trusted currency, the dollar, represents a claim on an asset no more tangible than the faith of the U.S. government. The same is true for…

RBI gets new note verification system

INDIA - Counterfeiters of currency may face a tough time now. The public can look forward to fewer soiled notes in circulation. An advanced Currency Verification and Processing System (CVPS) has been inaugurated at the Reserve Bank of India, Bangalore,…

Electronic signatures allowed for bank payment

VIETNAM - The State Bank of Vietnam (SBV) will announce regulations over the pattern and content of electronic documents to be used for payment services among banks next month, deputy governor Nguyen Van Giau said.

TFB calls for easing of credit card rules

THAILAND - TFB calls for easing of credit card rules Thai Farmers Bank Plc (TFB) is calling on the Bank of Thailand (BOT) to ease existing regulations on issuance of credit cards, Manager Daily said on 25 March.

U.S. late credit card payments rose in Q4

US - Late payments on credit card bills edged up in the final quarter of last year but fewer people were overdue on other types of consumer loans despite weak economic growth, a banking trade association said on Tuesday.

China links bank cashpoints to meet WTO challenge

CHINA - China launched an electronic network on Tuesday to link the cash machines of major banks for the first time, hoping the customer-friendly service will help Chinese banks fend off fierce foreign competition.

Phasing out the euro with e-money

FEATURE - Now that the physical euro has been successfully introduced, it is time to press ahead with the next phase - getting rid of the physical euro.

Facelift for the greenback

US - Redback, pinkback, and blueback may not have quite the same ring as greenback. Nevertheless, US Treasury Secretary Paul O'Neill is considering plans to replace the famously green hue of dollar notes with a rainbow of seven different colours.

Banks tackle RBA in new card twist

AUSTRALIA - The Australian Bankers' Association (ABA) says the Reserve Bank of Australia (RBA) has hired a lobbyist to promote credit card reform.

Federal Reserve Board Press Release

PRESS RELEASE - The Federal Reserve Board on Thursday announced the publication of a guide to help consumers better understand their rights and responsibilities with regard to electronic check conversion transactions.

Banks in fight over card fees

AUSTRALIA - Banks and credit card issuers are in disagreement with the Reserve Bank of Australia (RBA) over credit card reforms.

RBA is losing minds in credit card battle

FEATURE - The Reserve Bank is digging itself into a hole in its new role as a consumer advocate and risks damaging its relations with the banks over its efforts to "reform" Australia's credit-card system.

SPB to stimulate debit card use in Brazil

BRAZIL - Brazil's inter-bank settlement program (SPB) is expected to cause a rise in debit card use and a corresponding decrease in check use due to high pre-funding fees, Bradesco technology director Osmar Roncolato Pinho told participants of a…

Cash transfers to be possible by Visa card

UK - European consumers will be able to transfer money directly between each other's Visa credit and debit cards by the autumn under plans by the card-processing network.

Korea to export currency for world cup period

SOUTH KOREA - The Bank of Korea (BOK) today said that domestic lenders will export 50 billion won (US$37.82 million) worth of the country's money abroad to facilitate currency exchange for foreigners who will visit Korea during the FIFA World Cup period.

China's c bank in battle over payment settlement

CHINA - Credit-card companies are fighting for a slice of multi-billion-dollar revenues which could be earned by providing their international networks to settle transactions made on the mainland.

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