Credit cards
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Campos Neto predicts end of credit cards
Brazil governor says Pix will be model for region’s payment systems
Chileans’ use of electronic payments is on the rise
Central bank report finds rapid increases in card and online payments.
Cash, not trash: the second lives of substrate
Central banks and their banknote providers are taking a range of approaches to recycling cash
Cash remains most common means of payment in Germany
But share of cash payments dropped from 74% in 2017 to 58% in 2021, Bundesbank finds
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
Visa, Mastercard and Amex suspend Russia operations
Bank of Russia says domestic payments will still be possible across its own systems
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
US regulators warn Wells Fargo of new penalties, report claims
Bloomberg says OCC and CFPB believe US bank is moving too slowly on compensating scam victims
Book notes: The pay off, by Gottfried Leibbrandt and Natasha de Terán
A timely introduction to and accessible survey of payment system developments
Mastercard and Visa dominate card scheme market
Number of operational card schemes ranges from zero to 10
RBI bans Mastercard from taking on new customers
Indian central bank sanctions card issuer over failure to store all payments data locally
Virus impacts consumer credit more than restrictions – Fed paper
“Pandemic itself” was main driver of credit contraction in US, not lockdowns, paper finds
Stress test results affect consumer credit – Philadelphia Fed paper
Banks reduce credit supply after worse-than-expected stress test results, researchers find
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
PBoC opens local currency payments market to first foreign company
Central bank issues clearing licence to Amex in step towards opening up one of world’s biggest bank card markets
Bank of Portugal removes limits on credit card use
Central bank issues new regulation to encourage the use of electronic payments
Contactless payment limit to rise in the UK
National roll-out of new limit will begin in April, but will take time, says industry body
Overseeing China’s payments revolution
The PBoC has tried to strike a balance between facilitating bigtech innovation and reining in risks, amid an explosive growth in mobile payments
Venezuela introduces new banknotes as hyperinflation continues
New notes come less than a year after five zeroes were dropped from currency
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
The IFF China Report 2019: Financial deepening, fintech development and green financing
The past 40 years have seen China transform from a recipient of global aid to a major economic centre in its own right. China is now seeking to deepen its markets, gradually open its borders to global financial flows, and promote new and innovative forms…
Housing market still a risk to financial stability – RBA assistant governor
Michele Bullock addresses concerns over recent tightening in lending standards
Eurozone lending constraints are effective but only after a time lag, researcher says
IMF paper looks at efficacy of tighter lending on curbing house prices and credit