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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    CBDCs

    HKMA, Central Banks to Beta Test CBDC Interoperability Solution

    By Editors | 14/09/2023

    New use cases for the solution, developed by Swift, are also being tested in a new sandbox environment by the RBA, BOT, CLS and other institutions.

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    Payments & Settlements

    Myanmar to Start Accepting Russian Mir Cards Next Month – Report

    By Mark Johnston | 13/09/2023

    Mir cards, established by the Central Bank of Russia, will be used in Myanmar as part of the military junta’s efforts to stabilise the kyat.

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    Structural Regulation

    HKMA Chief Appointed to Key BIS Post to Support Emerging Markets

    By Editors | 13/09/2023

    HKMA chief Eddie Yue was appointed Chair of the meeting of Governors of major emerging market economies for three years.

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    Clearing & Post-Trade

    CME, DTCC Receive Approval for Cross-Margining Arrangement

    By Editors | 13/09/2023

    The arrangement will enable capital efficiencies for clearing members that trade and clear both US Treasury securities and CME Group interest rate futures.

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    Custody & Infrastructure

    JPMorgan Seeks Regulatory Approval to Launch ‘Digital Deposit Token’

    By Editors | 13/09/2023

    The deposit token would represent a digital claim against a commercial bank deposit, and could be used for instant payments and settlements across the financial system.

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    Fraud, Scams & Cybercrime

    Singapore’s PayNow to End ‘Nickname’ Feature Next Year

    By Sanday Chongo Kabange | 12/09/2023

    The removal of the nickname option from PayNow has been prompted by growing cases of scams and a need to bolster online security.

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    CBDCs

    HKMA, PBOC Enter Next Phase of e-CNY Technical Testing

    By Editors | 11/09/2023

    Hong Kong is expanding its technical testing to include more banks and testing the digital yuan wallet’s top-up function through FPS.

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    PEPs & Sanctions

    HSBC to Halt Russia, Belarus Payments for Corporate Clients – Reports

    By Editors | 11/09/2023

    HSBC reportedly told customers that the sanctions and trade restrictions imposed on Russia and Belarus have made it “increasingly challenging” to operate.

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    CBDCs

    BSP Announces Key Technology Decision for CBDC Pilot

    By Sanday Chongo Kabange | 10/09/2023

    Participating financial institutions will test the use of wholesale CBDC technology alongside PhilPaSSplus in a sandbox environment.

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    Payments & Settlements

    RBI Governor Launches New Features on UPI System

    By Editors | 08/09/2023

    The new features include voice-enabled payments, offline transfers, and NFC-enabled QR code payments.

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