The Fintech Times

SEPTEMBER 9, 2024

The American Fintech Council (AFC) has backed the Federal Reserve ’s proposal to extend the operating hours of the Fedwire Funds Service and National Settlement Service (NSS).

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PYMNTS

DECEMBER 18, 2020

But the race is still on for central banks to develop their own digital versions of fiat to take their place alongside bills and coins. To that end, the Bahamas may stand out as an epicenter of sorts for the rise of central bank digital currencies (CBDCs). Central Banks Around the World Eye CBDCs.

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Payments Dive

MAY 20, 2024

Federal Reserve Governor Christopher Waller last week underscored the central bank’s role for setting standards in the rapidly evolving payments arena.

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PYMNTS

OCTOBER 19, 2020

Federal Reserve Board Chair Jerome Powell sounded a cautionary note on Monday (Oct. 19) on the bank’s potential rollout of a digital currency. It comes on the heels of an IMF report that raises concerns about growing momentum toward central bank-issued digital currencies (CBDCs). The Fed chief, noting that the U.S.

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PYMNTS

MARCH 15, 2020

The Federal Reserve announced Sunday (March 15) it would drop benchmark interest rates to zero and buy at least $700 billion in government bonds as part of an emergency action to protect the economy from the impact of the coronavirus outbreak. The new rate will now be targeted at 0.0 percent to 0.25

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Payments Dive

APRIL 1, 2022

Ted Cruz's legislation, which follows a companion House bill introduced earlier this year, would prevent the Federal Reserve from issuing a central bank digital currency directly to consumers.

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PYMNTS

MAY 21, 2020

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A A central entity may implement a monetary policy and issue currency.

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PYMNTS

OCTOBER 12, 2020

The recently released report by the Bank for International Settlements ( BIS ) offers a general framework for digital currencies. The BIS noted of central bank digital currency ( CBDC ) that “a CBDC could provide a complementary central bank money to the public, supporting a more resilient and diverse domestic payment system.

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PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. Fed, the Swiss National Bank and others.

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PYMNTS

OCTOBER 11, 2019

For central banks, when it comes to cryptocurrencies, there’s no central theme. Some central banks are embracing the concept. The overall theme, reported the site, is to look into how “digital central bank money could be used in the settlement of tokenized assets between market participants.”.

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Fintech News

DECEMBER 10, 2023

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.

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Fintech News

MAY 15, 2024

Project Agorá, an initiative by the Bank for International Settlements (BIS) alongside major central banks and the Institute of International Finance (IIF), is moving forward and inviting private sector involvement. The project aims to explore how tokenisation can improve wholesale cross-border payments.

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Payments Source

OCTOBER 19, 2020

Other central banks have considered phasing out cash as they explore digital currencies. Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar. Should the idea take hold in the U.S.,

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PYMNTS

DECEMBER 2, 2019

The Federal Reserve Board has approved a new fee schedule for payment services in 2020 that is overall 2.4 The fee schedule was established in accordance with the Monetary Control Act of 1980, which requires that the Federal Reserve recover the costs of services. The Reserve Banks estimate that they will recover 100.8

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The Paypers

JANUARY 15, 2021

The chairman of the US Federal Reserve has announced that the US is going slow on central bank digital currencies (CDBCs) considering the risks they may pose to the dollar.

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The Paypers

SEPTEMBER 8, 2022

The European Central Bank (ECB) and the US Federal Reserve have joined hands to increase the interest rate, in an attempt to stamp out record inflation.

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Payments Dive

SEPTEMBER 2, 2022

recommends limited implementation of a central bank digital currency if the Federal Reserve pursues that digital dollar. The biggest payment system in the U.S.

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The Paypers

MARCH 3, 2022

The Federal Reserve Board has taken a look at how financial firms get coveted access to the US central bank’s payment system.

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PYMNTS

AUGUST 5, 2020

In other news, the Federal Reserve ’s relaxation of monetary policy could bolster the price of bitcoin, with analysts seeing bitcoin potentially reaching a value of $50,000, CoinDesk reported. “The aggregate rewards available under this program could be worth up to approximately $400 million,” according to the statement.

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PYMNTS

AUGUST 14, 2020

A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Legal issues include whether a CBDC would have status as legal tender.

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The Fintech Times

SEPTEMBER 9, 2024

Previously hosted by major institutions like the Federal Reserve, Deutsche Bundesbank and the European Central Bank, the workshop has become a central platform for discussions on cutting-edge financial innovations.

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PYMNTS

FEBRUARY 1, 2019

The Federal Reserve Bank of New York announced that it will formally assist Bangladesh Bank in a lawsuit to recover funds stolen by hackers.

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PYMNTS

JANUARY 21, 2020

And now, for digital currencies, it’s a group effort — among central banks, that is. Up until now, the explorations and considerations of digital currencies — as would be, potentially, issued by central banking systems to bring fiat into digital form — has been done on a country-by-country basis.

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PYMNTS

DECEMBER 10, 2019

Policymakers at the European Central Bank (ECB) will meet in Frankfurt on Wednesday (Dec. Lagarde has vocalized that she favors central banks releasing electronic money. Bank of England Governor Mark Carney has even implied that an international central bank coin could supersede the U.S.

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PYMNTS

NOVEMBER 12, 2019

Federal Reserve Chairman Alan Greenspan said Tuesday (Nov. 12) that central banks have no reason to issue digital currency. Philadelphia Federal Reserve President Patrick Harker said in early October it is “ inevitable ” that central banks including the Fed will issue digital currency.

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PYMNTS

SEPTEMBER 25, 2020

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Notably, China’s central bank is already developing and testing a national digital currency in the Asian nation.

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PYMNTS

SEPTEMBER 17, 2020

The race to develop central bank digital currencies (CBDCs) is underway, but it seems the Reserve Bank of Australia may not be in the running. 17), Australia’s central bank has viewed the issuance of such digital coinage with caution, and even a bit of skepticism.

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Payments Dive

MARCH 18, 2022

Merchant trade groups that sued the Federal Reserve Board in federal court last year over what they alleged was the central bank's failure to keep debit card fees in check had their case dismissed this week. They said they'll appeal the ruling.

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PYMNTS

MARCH 23, 2020

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. In addition, member banks of the Fed can have a “pass-through digital dollar wallet” per the draft bills, as cited by the outlet.

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PYMNTS

JULY 5, 2019

Ireland’s central bank has fined Wells Fargo 5.9 The fine is the second biggest ever issued by the bank, and it’s for five breaches that happened between 2014 and 2019, which include failure to report the bank’s capital position, which brought to light “serious and systemic weaknesses” in its reporting. .

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PYMNTS

MARCH 23, 2020

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. In addition, member banks of the Fed can have a “pass-through digital dollar wallet” per the draft bills, as cited by the outlet.

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Payments Source

DECEMBER 18, 2019

The Federal Reserve’s Lael Brainard this week tossed fresh regulatory pressure on Facebook’s Libra cryptocurrency project, comments that come as central banks around the world work on digital currencies to counter the social network’s cryptocurrency project.

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Payments Source

DECEMBER 19, 2019

The Federal Reserve is investigating the second significant disruption in 2019 of a payments service administered by the U.S. central bank.

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Payments Source

DECEMBER 13, 2020

From brokering insurance contracts to financial settlements, smart contracts could bring immense innovation to CBDCs that otherwise would act as little more than an augmented medium of exchange, says Cypherium's Sky Guo.

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Payments Source

APRIL 9, 2020

The implementation of a digital dollar solution would quite likely precipitate future developments in the digital identity space, given the synergy of a dual-architecture solution, says Diginex's Mark Blick.

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The Paypers

OCTOBER 12, 2020

A group of seven major central banks including the US Federal Reserve have discussed how a digital currency could look like to help catch up with Facebook’s Libra and China’s digital yuan.

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Payments Source

JANUARY 7, 2019

Despite some growing support for central banks issuing digital currencies, the practice raises important privacy concerns and questions about the structure of the banking system.

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