Payments
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
BoE’s Cleland calls for innovation in wholesale payments
Wholesale payments suffer from inefficiencies despite being critical to financial stability, official says
Central bank of the year: Bank of Korea
South Korea’s central bank was the first developed-world central bank to tighten policy to address inflationary risks
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Central Banking Awards 2022: third group revealed
Awards recognise payments, currency, regulatory technology and financial market infrastructure
Currency initiative: Central Bank of the Philippines’ Cash Service Alliance
Homegrown IT system allows Philippine central bank to direct cashflows between banks during Covid-19
Payment services: CMA
The Swedish payments firm is well known as a provider of core infrastructure for central banks, and is now a key player in a new payment system linking the Arab world and beyond
BoE partners with MIT on CBDC
Bank of Canada and the Boston Fed have also teamed up with MIT on research projects
Honduras central bank warns on bitcoin again
Central American country will not follow El Salvador in making bitcoin legal tender, BCH says
Barbados to make switch to polymer
Redesigned banknotes will circulate by end of year, says governor
Project Dunbar raises ‘more questions than answers’
BIS’s multi-CBDC project focused on qualitative benefits and trialled small-scale cross-border transfers
Central bankers see ‘potential’ in stablecoins
But John Williams, Cecilia Skingsley and Perry Warjiyo warn such systems must be better regulated
Central banking in occupied Ukraine: what might happen?
How Russian authorities might deal with banking and currency in occupied Ukraine
Brazilian central bank overhauls fintech regulation
Central bank took inspiration from Basel III with phased introduction of regulations for payment firms
Bank of Thailand and finance ministry delay PayPal suspension
PayPal Thailand must comply with KYC regulations by end of year, central bank says
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
The ECCB’s DCash outage: what went wrong?
Experts discuss security certificate problems that may have derailed DCash pilot
Ukrainian central bank says lenders and payments remain stable
Shevchenko warns over foreign currency pricing as Russia increases reinsurance capital
Outsider arts: how Russia might adapt to sanctions
The history of the USSR and actions by other sanctioned countries may give clues to Russia’s next moves
Brazil moves forward with crypto legislation
Economic committee votes to give the central bank new regulatory powers
Many central banks have a fintech strategy
Over half of respondents have a dedicated fintech team
Botswana cancels cheques
Banks will cease processing cheques from 2024
Diego Labat on policy normalisation, capital flows and tech challenges
The Central Bank of Uruguay governor speaks with Christopher Jeffery and Ben Margulies about governance, financialisation, flexible rates versus capital controls, payment upgrades and CBDCs