European Central Bank President Christine Lagarde said Sunday the ECB is seeking input from the public about potential issuance of a digital euro, a sign that the central bank is seriously considering a retail central bank digital currency and not just one intended for interbank transactions.
An international financial institution has teamed up with Switzerland’s central bank to roll out the country’s first early-stage central bank digital currency for pilot testing by the end of 2020.
A group of seven major central banks reached a milestone on Friday in identifying attributes critical to a central bank digital currency and creating somewhat of a consensus about what the experimental currency would require, but they lag behind others like China that are already barreling ahead with pilot issuances.
Green bond projects are not showing evidence of improving firms’ carbon footprints, and companies should instead be given firm-level environmental ratings to help them reduce carbon emissions, researchers at the Bank for International Settlements said on Monday.
Deutsche Bank Wealth Management warned Monday that central bank digital currencies have the potential to completely disrupt the financial system, giving central banks more monetary policy tools and significantly changing the role that commercial banks play.
The governor of the Bank of France is urging central banks across Europe to embrace digital payments and create a cohesive, consistent strategy in order to strengthen the European financial sector and maintain the balance between central and commercial banks.
With the global shift to digital currency options accelerating due to the conditions brought on by the coronavirus pandemic, Mastercard said Wednesday that it engineered a new platform for central banks to test the potential for national digital currency systems.
A major international regulator said banks and other financial firms can delay a process for imposing haircuts on certain securities financing deals, allowing the companies more time to navigate impacts of COVID-19.
U.K. billionaire and entrepreneur Nick Ogden has teamed up with Microsoft’s cloud computing team to help roll out a new global interbank payments system, which he said would be the world’s first real-time cross-border liquidity network.
Central banks working on digital alternatives to cash are increasingly making room for private-sector financial institutions and investment firms to be involved in distributing the new currencies, according to a working paper.
China’s Ministry of Commerce said Friday that it will carry out a pilot run for its digital currency project in large cities, including Beijing, as the nation seeks to have one of the first major central banks to launch an electronic payment system.
Two big components of the debt market took sharply divergent paths as the COVID-19 crisis hit, with lukewarm syndicated loan issuance contrasting a surge in new bonds, the Bank for International Settlements showed in a new paper.
Hungary’s central bank said Thursday that it secured access to as much as EUR 4 billion ($4.64 billion) in liquidity from the European Central Bank, the latest addition to the country’s growing foreign-currency buffers.
The Japanese government will pursue development of a “digital yen” as the nation attempts to keep pace with increasing demand for cashless payments and competes with digital currency rollouts elsewhere in Asia.
Global uptake of U.S. Federal Reserve dollar swap lines may rise as banks around the world face deteriorating financial conditions due to the COVID-19 pandemic and as demand for dollars increases, the Bank for International Settlements said.
Financial authorities should nail down rigorous plans to smooth the transition away from the world’s most widely used interest rate benchmark, two major global regulatory bodies cautioned on Thursday.
An international banking institution offered reforms to better handle failing banks in the European Union in a report published Thursday, suggesting that the EU should implement deposit insurance and standardize nation-level insolvency laws.
Global banking policy leaders have finalized revisions to the Basel III financial reform, emphasizing new standards for measuring credit valuation adjustment risk, the Bank for International Settlements said Wednesday.
The Bank for International Settlements will establish new “Innovation Hub” locations in Europe and North America as it looks to accelerate work on digital currencies and other financial technology across central banks, BIS said Tuesday.
Exchange group Cboe Global Markets is set to launch a new currency trading platform to match real-time orders called Cboe FX Central, the company said Thursday.