Reserve Bank of Australia

Crypto / Digital Assets

BIS Study: 24 Central Banks to have CBDCs by 2030

By Jill Wong | 11/07/2023

A BIS study found 24 central banks would have their own digital currencies in circulation by 2030.

Market Infrastructure

RBA Consults on Options for Enhancing Debit Card Market

By Sanday Chongo Kabange | 23/06/2023

The RBA seeks to prevent any one debit network from being given routing priority at issuance for domestic transactions.

AML / KYC

Australia Assessing Adequacy of Crisis Management Settings

By Ranamita Chakraborty | 16/06/2023

Regulators are assessing Australia’s crisis management settings to ensure they remain robust in light of international developments.

ESG / Sustainability

ASIC Urges Corporates to Start Preparing to Adopt ISSB Standards

By Ranamita Chakraborty | 15/06/2023

ASIC chair Joe Longo said the Treasury will publish plans for adopting the ISSB standards in Australia in the next two weeks.

Crypto / Digital Assets

Australia Issues New Strategic Plan for Payments System

By Manesh Samtani | 08/06/2023

A new licensing framework will be introduced, including for payment stablecoin issuers. RBA will explore fast payment links with other jurisdictions.

Enforcement

ASX Releases Reports on CHESS System to ASIC, RBA

By Sanday Chongo Kabange | 06/06/2023

ASX to keep CHESS operational until at least 2032. ASIC said it is prepared to take regulatory action to ensure ASX complies with its regulatory obligations.

Enforcement

PwC Australia Facing Loss of “Substantial” Government Contracts

By Editors | 06/06/2023

A number of government agencies, including ASIC, are reviewing contracts with PwC Australia over confidentiality breaches.

Market Infrastructure

RBA Publishes Findings from Payments Infrastructure Review

By Sanday Chongo Kabange | 30/05/2023

The external review was conducted by Deloitte in response to a four-hour outage suffered by the RBA in October 2022.

Fintech / Regtech

RBA Considers Banning ‘Default’ Route on Dual Network Cards

By Editors | 23/05/2023

The RBA had set an expectation that merchants would be offered least-cost routing by end-2022, but the industry did not meet this timeline.