Payments
No UK central bank digital currency before 2025, BoE says
A 2022 consultation will determine if CBDC should enter “development” phase
MAS embarks on retail CBDC study
But Singapore sees no pressing need for retail central bank digital currency, MAS says
Eurozone’s faster payments system to link with Singapore and Malaysia
Proof of concept is the next step of the BIS’s Project Nexus
People: ECB appoints new head of macro-pru
BIS names Innovation Hub directors; Bundesbank sends representative to Madrid; and more
Global CBDC network could save multinationals nearly $100bn
Payments system could eliminate delays and need for multiple correspondent banks
UAE central bank announces new cyber security centre
Gulf state saw huge increase in cyber attacks in 2020
UAE partly decriminalises passing bad cheques
New law meant to encourage recovery, justice and more modern forms of payment
US regulators call for new stablecoin regulations
Working group wants issuers to be insured and regulated like banks
Mobile money was ‘crucial’ for low-income countries during the pandemic – IMF
Data shows mobile and internet banking transactions grew for all income levels
Transactional cash usage ebbs and flows in response to Covid-19
The proportion of payments made in cash ranged from 3% to 88%
North Korea issues coupons instead of cash
Experts say closing of Chinese border due to Covid-19 may have halted banknote production
Interoperability of stablecoins
Central bank reserves could be a better option for backing stablecoins than Treasuries, say Manmohan Singh, Caitlin Long and Charles Kahn
ECB appoints members to new ‘digital euro’ board
Advisory board’s 30 members will advise on potential digital euro models
Nigeria launches ‘digital naira’ pilot
Central bank issues $1.2 million in retail CBDC after clampdown on private crypto
PBoC steps up efforts to safeguard cash use
Chinese central bank fines railway $78,000 over refusal to accept cash in ticket office
Fed’s Quarles says there is no case for a US CBDC
Central banks should not waste resource or risk “significant disruption” to the banking system
Podcast: Payment networks of the future
Liz Oakes (Mastercard) and Somya Patnaik (ACI Worldwide) discuss how central banks can ensure consumers get the most out of new payment infrastructure
CBDC just one option for future payment system, says BoJ official
Japan’s central bank says CBDC could solve safety and interoperability issues, but is not the only option
Payments Benchmarks 2021 – presentation
Central Banking’s payments subject matter specialist Rachael King speaks with Christopher Jeffery about payments, staffing and salaries, mandates, oversight, and RTGS renewal
Podcast: reflecting on CBDC issuance in the Caribbean
Co-founder of Bitt, Simon Chantry: the ECCB is ready for issuance of central bank digital currency
G7 says retail CBDC networks should be carbon neutral
Group of Seven outlines 13 retail CBDC principles in new report
Time to ‘future-proof’ central banks – Sibos panel
Central bankers prepare for CBDC issuance as stablecoin threat eases
UK government mulls giving BoE new payment supervision powers
BoE would oversee firms within the broader ‘payment chain’