Real-time gross settlement (RTGS)
Bank of England experiment tests RTGS with DLT in mind
DLT proof-of-concept participants suggest implementing “cryptographic-proof” model
BoE official considers possible new frameworks for retail payments
“Multi-vendor” more resilient but “single vendor” easier to regulate, David Bailey says
Swift aims to have all members using GPI system by late 2020
Corrected: Network wants to integrate all 10,000 banks into the cross-border payment system
Riksbank considers joining eurozone’s real-time payments network
Stefan Ingves says central bank may have to investigate issuing a digital currency
Danish central bank recommends security upgrade for payment systems
New cyber security measures, risk management rules and stress tests should be implemented
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
SNB rejects idea of retail central bank digital currency
Governing board member Andrea Maechler says central bank digital currency would bring “incalculable risks”, and denies that crypto tokens are “comparable with” money
BoE outlines DLT proof of concept
Participants will access cloud-based platform which will simulate new RTGS system
BoE suffers transaction-processing glitch
“Regular” IT update led to failed wholesale transactions, although payment systems operated normally, the central bank says
Central Banking Awards: Bank of Canada is central bank of the year
Awards go to the Bank of Canada, PriceStats, Perago and De La Rue
Initiative of the year: Bank of England’s FinTech Accelerator
The UK central bank has embraced fintech service providers in a controlled manner to bolster its cyber-security and payments capabilities
Lifetime achievement award: Perng Fai-nan
Pre-emptive financial reforms combined with flexible monetary and forex policies have enabled Taiwan’s veteran governor to provide economic stability, even during turbulent times
RBA’s Lowe discusses potential electronic Aussie dollar
Financial stability risk and reforms holding back provision of digital currency at the moment, says RBA governor, but clearing and settlement could be future use case
DLT set to make central banks ‘obsolete’ as payment operators – report
Second phase of MAS’s Project Ubin deemed a success as central bank manages to deploy RTGS system on DLT fabric
BoE to run Chaps payment system
UK central bank moves to “direct delivery model” to operate entire high-value payment system as it looks to implement RTGS overhaul
Payments overhaul under way in Aruba
Central bank to give up clearing responsibilities to oversee new payments infrastructure; consumer behaviour will be a challenge, bank says
Brazil’s central bank creates DLT-based failsafe for RTGS
New system, designed as last line of defence, lacks appropriate privacy, central bank concludes; established solutions also ruled out as alternatives
Belize launches next phase of payment overhaul
Cheque payments which would have taken up to a week will be processed within 24 hours under new system, with further plans to revamp the securities market infrastructure in the pipeline
Task force calls on Fed to upgrade settlement system
Faster payments task force urges Fed to expand settlement service to all hours and open it to new participants; Fed may need to play an “operational role”
BoE opens RTGS to non-bank payment service providers
Non-banks gain direct access to settlement accounts at the Bank of England for the first time, though they will not be able to participate in monetary operations