Fintech
BoE to launch ‘cyber stress tests’
Firms will be expected to demonstrate they can recover from a breach within an agreed timescale, or face an intervention from supervisors
RBNZ’s Bascand: too soon to decide on issuing digital currency
New technology could reduce payments efficiency and increase financial instability, deputy governor warns
Central bank digital currency would be unsafe – senior ECB official
Lack of finality in payment could cause major instability, Benoit Coeuré says
Panellists disagree on regulatory approach to blockchain
Should regulators be allowed on the blockchain, or should the technology govern itself, panel asks
South African central bank puts cyber security on strategic agenda
Sarb says it has put “base infrastructure” for security incident technology in place
Caribbean central banks look for common approach to fintech
Working group set up to look at crypto assets in the region
Central bank digital currency of no benefit to financial stability – RBNZ research
CBDC could make New Zealand’s banking sector more susceptible to spillovers
BIS calls for ‘redrawing of regulatory boundaries’ around crypto
Regulation will have to adapt to a “new reality”, BIS says, suggesting new ways the underlying technology could be applied to improve financial efficiency
PRA official says financial system must become more cyber-resilient
Firms now view cyber as one of the biggest risks to their operations; regulators must outline what they expect from firms in terms of resilience
Minneapolis Fed paper examines DNA of crypto assets
Cryptography can identify modifications in transaction records without a central structure
Central bank-issued digital currency threatens privacy – BoI official
CBDCs may not be compatible with rights of individuals, says Bank of Italy’s Panetta
Singapore and India launch fintech co-operation scheme
The countries plan to establish real-time payments links
HKMA has no plans to launch digital currency - Treasury official
Hong Kong’s efficient payment infrastructure lessens incentive to go digital, official says
Reserve Bank of Zimbabwe crypto asset ban overturned by court
Court rules in favour of Golix, Zimbabwe’s largest crypto exchange, after Reserve Bank officials fail to show up at hearing
Brazil’s central bank launches fintech laboratory
Central bank partners with big tech firms to help modernise how financial services are delivered
BoE research says digital currency would ‘strengthen’ policy transmission
Under proposed framework, a CBDC would have limited impact on monetary policy but a lack of data means further research into design and demand will be crucial
Is this the beginning of a new era of credit risk management technology?
In the aftermath of the 2008 financial crisis, inadequate credit risk management systems have been widely held responsible by regulators for spreading the crisis’ germs all over the financial sector. As a result, a myriad of regulations affecting credit…
Norges Bank does not rule out launching digital currency
Central bank publishes first phase of research, saying a digital currency could be an alternative to deposit money when cash usage declines
Bank of Mexico admits $15.2 million went missing in cyber heist
Central bank says customers’ accounts were not penetrated; new cyber unit will look to strengthen internal and external controls
Dubai regulator issues ‘innovation testing licenses’ to six fintech firms
Licenses will allow firms to test products with relaxed regulatory requirements
Canada’s Project Jasper finds DLT is viable for securities settlement
Phase III of the project saw central bank cash and assets instantly settled across a DLT network where privacy is maintained
No reason for public to have central bank accounts – Cœuré
ECB executive board member sees no current need for central bank digital currency, but says it could act as an alternative to cash in future
Central banks should create national cyber defence – Canada’s Dinis
Not enough for institutions to maintain their own “alarm systems”, Bank of Canada COO says, highlighting the usefulness of cyber stress tests
Dramatic fall in Bitcoin price correlates with introduction of futures, authors argue
Dramatic fall in Bitcoin price correlates with introduction of futures, authors argue