7 / 10 Relevant items tagged with #CentralBank

Posts

Despite Using Euro, Montenegro to Develop Own Digital Currency With Ripple

[Apr 13, 2023 5:30 AM] Montenegro intends to create and issue its own digital currency with help from U.S.-based crypto company Ripple. The Southeast European nation, which adopted the euro unilaterally, is moving to realize the plan despite the eurozone developing a…

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

[Apr 10, 2023 8:00 AM] After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central…

‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network

[Apr 9, 2023 7:34 AM] The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is…

Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say

[Apr 7, 2023 11:30 AM] Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials…

Nigerian crypto foreign investment is at a record low: Study

[Apr 6, 2023 3:20 AM] Foreign direct investment in Nigeria fell by 33% last year due to a severe shortage of dollars, which discouraged crypto companies from expanding into the country.

Household Crypto Holdings Included in Bank of Russia’s Consumer Finance Survey

[Apr 2, 2023 11:30 PM] The Central Bank of Russia has added crypto asset holdings of households to its survey of consumer finances. The statistics reveal that Russian families keep more money in cryptocurrency wallets than in gold investment accounts or mutual funds…

Stress test? What Biden’s bank bailout means for stablecoins

[Apr 2, 2023 8:13 AM] A major stablecoin depegging event raised concerns about the stability of these assets amid a U.S. banking crisis. The result may have been an improvement in their position in traditional finance.

European Banking Federation shares its vision of digital euro, wCBDC, bank tokens

[Mar 28, 2023 11:30 AM] The EBF calls itself the voice of the European banking sector; it expressed its support for European digital money, with suggestions of its own.

UBS’s acquisition of Credit Suisse brings some good and bad for crypto

[Mar 27, 2023 7:54 AM] Many in Switzerland have said that UBS’ takeover of Credit Suisse was necessary to avoid a calamitous banking crisis like that seen in 2008.

A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking

[Mar 26, 2023 10:30 PM] Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of…

Custodia Bank's membership denied for ties with crypto markets, says US Fed

[Mar 25, 2023 10:35 AM] The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank's application for membership.

Digital Euro Key for European Payment Autonomy, ECB President Lagarde Says

[Mar 24, 2023 8:00 AM] The digital euro has an important role in preserving the payment autonomy of Europe, the head of the eurozone’s monetary authority emphasized. The new currency, which is still under development, is meant to be sovereign and safe, cheap and widely…

UAE Unveils CBDC Strategy, First Phase to Be Completed by Mid-2024

[Mar 24, 2023 1:12 AM] The United Arab Emirates expects to complete the first phase of its central bank digital currency strategy over the next 12 to 15 months.

Bank profits at risk from potential CBDC transformation of global economy: Moody’s

[Mar 23, 2023 3:30 PM] CBDCs are here to stay, it seems, and Moody’s is looking at their implications for the global economy and international banking.

UAE central bank signs deal for CBDC strategy

[Mar 23, 2023 7:20 AM] The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub.

Federal Reserve Hikes Rate by 25bps to Keep Inflation at Bay, Aims for 2% Inflation Rate by 2025

[Mar 22, 2023 1:05 PM] Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run. Fed…

US Central Bank’s Fednow Payment Service to Launch in July, Economist Calls Timing ‘Suspicious’

[Mar 22, 2023 11:30 AM] According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is…

Nigeria CBDC adoption spikes as fiat currency shortage grip the nation

[Mar 22, 2023 2:12 AM] The acute cash shortage in Nigeria was due to the central bank’s decision to replace older bank notes with bigger denominations amid rising inflation.

Elon Musk Criticizes Federal Reserve’s Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos

[Mar 18, 2023 10:30 AM] Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their…

Russian Parliament Votes on Bill Opening Door for Digital Ruble

[Mar 18, 2023 1:30 AM] Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the…

More 186 US banks well-positioned for collapse, SVB analysis reveals

[Mar 17, 2023 11:33 PM] Rising interest rates, which brought down the U.S. banking system’s market value of assets by $2 trillion, combined with a large share of uninsured deposits at some U.S. banks, threatens their stability.

‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change

[Mar 17, 2023 2:30 PM] At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many…

Banking crisis: What does it mean for crypto?

[Mar 17, 2023 11:00 AM] Cointelegraph breaks down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explains what this all could mean for crypto.

CBDCs could provide smooth cross-border payments, says Bank of Israel official

[Mar 15, 2023 8:20 AM] Yoav Soffer, the advisor to the deputy governor and CBDC project manager, spoke at Tel Aviv FinTech Week, explaining how a recent CBDC experiment proved efficient in cross-border transactions.

Binance to Restrict Ukrainian Hryvnia Operations Via 2 Payment Providers

[Mar 15, 2023 7:00 AM] Crypto exchange Binance will stop processing transactions with Ukrainian hryvnia through two payment platforms later in March. The move follows an earlier suspension of deposits and withdrawals using bank cards in the national currency of Ukraine…

Banks collapsing; stablecoins depegging — What is happening? Watch The Market Report live

[Mar 14, 2023 10:00 AM] On this week’s episode of The Market Report, Cointelegraph’s resident experts explain what is going on with banks collapsing, stablecoins depegging and what you should do to stay safe.

Bank of Russia Registers Another Digital Asset Issuer

[Mar 12, 2023 11:30 PM] The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize…

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

[Mar 11, 2023 4:30 PM] After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From…

Iran’s Crypto Rial Project Enters Trial Phase

[Mar 10, 2023 3:30 AM] The pre-trial stage of the project to introduce a digital Iranian rial has been completed successfully, the country’s central bank announced. The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s…

BIS wraps exploration project on retail CBDC payment system

[Mar 6, 2023 10:30 AM] The bank concluded that a ‘hub-and-spoke’ model between CBDC domestic systems could “reduce settlement and counterparty risk" and complete cross-border transactions in seconds.