Payments & Settlements

    Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.

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    Payments & Settlements

    RBI Directs Card Networks to Stop Facilitating Certain B2B Payments

    By Ajoy K Das | 19/02/2024

    Card networks should not enable businesses to use fintech players as intermediaries to make card payments to non-card accepting recipients.

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    Payments & Settlements

    Bangladesh Bank Introduces Taka-Dollar Swap System

    By Editors | 18/02/2024

    The new system is expected to help the central bank rebuild foreign exchange reserves while also easing local currency liquidity stress.

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    Resolution & Recovery

    HKMA Sets Out Resolution Planning Expectations in New Guidance

    By Sanday Chongo Kabange | 17/02/2024

    A new chapter has been added to the Code of Practice setting out the measures banks should have in resolution plans.

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    Payments & Settlements

    India, Nepal Ink Pact to Integrate Fast Payments Systems

    By Ajoy K Das | 16/02/2024

    The RBI has agreed to interlink the UPI with its counterpart in Nepal to enable instant and lower cost cross-border remittances.

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    CBDCs

    Philippines Plans to Launch Wholesale CBDC Within Two years

    By Nithya Subramanian | 13/02/2024

    BSP Governor Eli Remolona said the CBDC will operate on the central bank’s payment and settlement system and not use blockchain or DLT.

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    Payments & Settlements

    India Launches UPI Services in Sri Lanka and Mauritius

    By Ajoy K Das | 13/02/2024

    Mauritius is the first country outside Asia where banks will be able to issue RuPay cards, and the first African country to connect to the UPI.

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    CBDCs

    RBI to Enable CBDC Programmability, Offline Functionality

    By Ajoy K Das | 10/02/2024

    RBI statement also said it will introduce a new principle-based framework for the authentication of digital payment transactions.

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    Clearing & Post-Trade

    US SEC Approves Rule Change to Shift Municipal Bonds to T+1

    By Mark Johnston | 08/02/2024

    The amendment promotes the completion of allocations, confirmations, and affirmations by the end of trade date for municipal securities transactions.

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    Payments & Settlements

    Korea to Reform FX Market to Attract Foreign Investors

    By Sanday Chongo Kabange | 08/02/2024

    Reforms will address settlement failure risks. Pilot run to extend trading hours kicked off. Foreign FIs now have access to Korean FX market.

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    Payments & Settlements

    India’s UPI Payment Service Launches in France

    By Ajoy K Das | 07/02/2024

    The service will enable Indian tourists to make UPI-based payments across merchants in France.

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