Yves Mersch, an executive board member of the European Central Bank, has warned of the heightened threats to financial stability posed by banks and financial infrastructure providers building up positions in volatile cyrptocurrencies such as bitcoin.
The European Central Bank (ECB) today published the draft ECB guide on the assessment methodology (EGAM) for the internal model method and the advanced CVA capital charge for counterparty credit risk.
The European Central Bank (ECB) today signed a contract with Unisys to manage its IT operations, which include the IT support desk and operation of the data centre.
The Governing Council of the European Central Bank (ECB) on 6 December 2017 approved the consolidation of the Eurosystem’s real-time gross settlement system TARGET2 and the securities settlement platform TARGET2-Securities (T2S), and the development of a Eurosystem Collateral Management System. Both projects will modernise existing systems and increase overall efficiency.
Banks need to implement instant payments as soon as possible and provide an alternate narrative to the ongoing public debate on the alleged innovation brought by virtual currency schemes, says Yves Mersch, an executive board member of the European Central Bank.
Cash still dominates at the point of sale in Europe, accounting for more than three quarters of all in store transactions in the euro area last year, according to an ECB study.
Central banks will use distributed ledger technology (DLT) to settle high-value interbank payments within the next five to ten years, predicts the chief executive of Ripple.
European clearing industry players put any lingering irritation with the ECB to one side during the final day of Sibos to come together to extol the virtues of instant payments.
Sunny optimism faced off with hard-nosed pragmatism during an early Sibos session on blockchain in the cash and securities settlement space, as ConsenSys rep Monica Singer tried desperately to win over cynical bankers.
The European Central Bank is inviting independent techies and vendors to develop a mobile app for its forthcoming instant payment settlement system that will let people and businesses send money anywhere in the euro area within seconds.
© Finextra Research 2018