Central Bank Payment and Settlement Services with Respect to Cross-border and Multi-currency Transactions
Author: Bank for International Settlements
Publisher:
Published: 1993
Total Pages: 62
ISBN-13:
DOWNLOAD EBOOK →Lanterna Rally
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CENTRAL BANK PAYMENT AND SETTLEMENT SERVICES WITH RESPECT TO CROSS-BORDER AND MULTI-CURRENCY TRANSACTIONS: REPORT PREPARED BY THE COMMITTEE ON PAYMENT AND SETTLEMENT SYSTEMS OF THE CENTRAL BANKS OF THE GROUP OF TEN COUNTRIES
Author: COMITATO SUI SISTEMI DI PAGAMENTO E REGOLAMENTO DELLE BANCHE CENTRALI DEI PAESI DEL GRUPPO DEI DIECI = COMMITTEE ON PAYMENT AND SETTLEMENT SYSTEMS OF THE CENTRAL BANKS OF THE GROUP OF TEN COUNTRIES (CPSS)
Publisher:
Published: 1993
Total Pages: 35
ISBN-13:
DOWNLOAD EBOOK →CENTRAL BANK PAYMENT AND SETTLEMENT SERVICES WITH RESPECT TO CROSS-BORDER AND MULTI-CURRENCY TRANSACTIONS
Author: Banca dei Regolamenti Internazionali
Publisher:
Published: 1993
Total Pages: 35
ISBN-13:
DOWNLOAD EBOOK →Central Bank Payment and Settlement Services with Respect to Cross-border and Multi-currency Transactions
Cross-Border Payments with Retail Central Bank Digital Currencies
Author: Andre Reslow
Publisher: International Monetary Fund
Published: 2024-05-15
Total Pages: 43
ISBN-13:
DOWNLOAD EBOOK →Many central banks are currently exploring the possibility of issuing retail central bank digital currency (CBDC). While the primary objective varies between jurisdictions, many central banks consider improved cross-border payments as a potential benefit and previous work has shown that CBDC can help overcome some of the frictions in cross-border payments. CBDC is a safe and liquid asset reducing the number of financial intermediaries and the settlement risk. Designing CBDC systems for cross-border payments is not fundamentally different from tailoring other payment systems. However, the roles and responsibilities might be slightly different in a CBDC system, and the central bank may play a more pivotal role given CBDC’s nature as public money as opposed to commercial bank money. This note draws lessons from ongoing experimentation and research to identify design and policy considerations when developing retail CBDC systems so it may be compatible for cross-border payments. The note focuses on retail CBDC—a CBDC primarily targeting households and non-financial firms—and leaves wholesale CBDC considerations for future work, although many of the discussions are applicable to wholesale CBDC and other forms of money as well.
General Principles for International Remittance Services
Author: Group of Ten. Committee on Payment and Settlement Systems
Publisher:
Published: 2007
Total Pages: 68
ISBN-13:
DOWNLOAD EBOOK →The Rise of Digital Money
Author: Mr.Tobias Adrian
Publisher: International Monetary Fund
Published: 2019-07-15
Total Pages: 20
ISBN-13: 1498324908
DOWNLOAD EBOOK →This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
International Transactions in Remittances
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2009-09-14
Total Pages: 98
ISBN-13: 1589068254
DOWNLOAD EBOOK →The International Transactions in Remittance: Guide for Compilers and Users (RCG) presents concepts, definitions, and classifications related to remittances. It is consistent with the new standards for measuring balance of payments transactions, as contained in the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). These standards are used globally to compile comprehensive and comparable data. The RCG identifies the main remittances compilation methods currently being used by compilers and discusses in detail the strengths and weaknesses of each method. It is the first manual providing compilation guidance for remittances and is also the first compilation guide based on concepts set out in BPM6. Although the RCG is primarily aimed at remittances data compilers, it may also be useful for users who wish to understand remittances data.
The Federal Reserve System Purposes and Functions
Author: Board of Governors of the Federal Reserve System
Publisher:
Published: 2002
Total Pages: 0
ISBN-13: 9780894991967
DOWNLOAD EBOOK →Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Distributed Ledger Technology Experiments in Payments and Settlements
Author: Mr.Ghiath Shabsigh
Publisher: International Monetary Fund
Published: 2020-06-24
Total Pages: 22
ISBN-13: 1513536338
DOWNLOAD EBOOK →Major transformations in payment and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took several days domestically and weeks internationally. The second generation involved computerization with batch processing. Links between payment systems were made through manual or file-based interfaces. The change-over period between technologies was long and still some paper-based instruments like checks and cash remain in use. The third generation, which has been emerging, involves electronic and mobile payment schemes that enable integrated, immediate, and end-to-end payment and settlement transfers. For example, real-time gross settlement systems have been available in almost all countries. DLT has been viewed as a potential platform for the next generation of payment systems, enhancing the integration and the reconciliation of settlement accounts and their ledgers. So far, experiments with DLT experimentations point to the potential for financial infrastructures to move towards real-time settlement, flatter structures, continuous operations, and global reach. Testing in large-value payments and securities settlement systems have partly demonstrated the technical feasibility of DLT for this new environment. The projects examined analyzed issues associated with operational capacity, resiliency, liquidity savings, settlement finality, and privacy. DLT-based solutions can also facilitate delivery versus payment of securities, payment versus payment of foreign exchange transactions, and efficient cross-border payments.
