Tagged: bis

May 15, 2024 @ 7:20 am By Omar Faridi  |  

Project Agorá, launched by the Bank for International Settlements (BIS), a group of leading central banks and the Institute of International Finance (IIF), is requesting the private sector to join its exploration of how tokenization can enhance the functioning of wholesale cross-border payments. The call… Read More

April 28, 2024 @ 12:06 pm By Omar Faridi  |  

More than 220 central bankers and banking supervisors representing over 90 different jurisdictions met on 24–25 April, 2024 in Basel for the 23rd International Conference of Banking Supervisors (ICBS). The ICBS included a program to mark the 50th year of the Basel Committee on Banking… Read More

April 6, 2024 @ 1:17 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) together with seven central banks has recently announced plans to join forces with the private sector to explore how tokenisation can enhance the functioning of the monetary system. Project Agorá (Greek for “marketplace”) reportedly “brings together seven central banks:… Read More

December 12, 2023 @ 9:44 am By Omar Faridi  |  

The Basel Committee on Banking Supervision met virtually on 5 and 7 December to discuss a range of policy and supervisory initiatives. The Committee took stock of its review of various elements of “the prudential standard for banks’ exposures to crypto-assets published in December 2022.”… Read More

November 29, 2023 @ 8:05 am By Omar Faridi  |  

The BIS published the concluding report of Project Tourbillon, which reportedly demonstrates that “cash-like anonymity” is possible in a retail central bank digital currency (CBDC). The project, developed by the BIS Innovation Hub Swiss Centre, has reportedly tested the concept of payer anonymity, which “provides… Read More

October 4, 2023 @ 7:40 am By Omar Faridi  |  

BIS, De Nederlandsche Bank and the Deutsche Bundesbank are creating a data platform that has potential to shed light on the macroeconomic relevance of crypto-asset markets and decentralized finance (DeFi). Project Atlas combines on- and off-chain information, “creating a layered approach to data vetting and… Read More

September 30, 2023 @ 3:40 pm By Michael Wong  |  

The Bank for International Settlements (BIS) has successfully completed Project Mariana, a collaborative endeavor with the central banks of France, Singapore, and Switzerland, aiming to explore the potential of wholesale central bank digital currencies (wCBDCs) in cross-border trading and settlement between financial institutions. Developed jointly… Read More

September 12, 2023 @ 7:55 am By Omar Faridi  |  

  The Hong Kong Monetary Authority (HKMA) has published its joint report on Project Sela. The initiative focused on the cybersecurity, technical, and policy aspects of a retail CBDC implementation. The HKMA is working with the Bank of Israel (BOI) and the Bank for International… Read More

August 23, 2023 @ 5:49 pm By JD Alois  |  

The Bank for International Settlements (BIS) has published a paper entitled Financial Stability Risks from Cryptoassets in Emerging Market Economies (EME). As one may surmise, the report addresses the risk of crypto and the impact on traditional financial services, including bank disintermediation. The research was… Read More

July 8, 2023 @ 10:45 am By Omar Faridi  |  

The Bank for International Settlements (BIS) recently shared its seven-point plan developed to assist nations with preventing cybersecurity incidents/hacks as a response to the new wave of digital national currencies (or CBDCs) currently under development. Approximately 130 different countries are currently exploring the feasibility of… Read More

July 6, 2023 @ 10:04 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) recently announced that Maha El Dimachki will join the BIS Innovation Hub (BISIH) team as “the new head of the Singapore Centre, starting on 1 October 2023.” Ms El Dimachki is currently Head of Early and High Growth Oversight… Read More

April 3, 2023 @ 12:37 pm By Omar Faridi  |  

This final report – issued as part of the G20 cross-border payments program – focuses on facilitating increased adoption of payment versus payment (PvP) “to reduce foreign exchange (FX) settlement risk and improve cross-border payments.” It analyzes “the causes of non-PvP settlement, takes stock of… Read More

March 21, 2023 @ 3:56 pm By JD Alois  |  

The BIS Innovation Summit brings together global policymakers, senior executives from the financial and technology industries, and academics to discuss how technological innovation could help central banks and financial markets to navigate uncertain times and, at the same time, disrupt the landscape in which central banks… Read More

February 9, 2023 @ 9:02 am By Omar Faridi  |  

A senior board member at the Bank for International Settlements (BIS) has asked for a coordinated regulatory response in order to limit the incursions of Big tech companies such as Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG) into financial services. The senior office argued that… Read More

January 25, 2023 @ 7:26 pm By Omar Faridi  |  

Decentralized finance (DeFi) builds on distributed ledger technologies (DLT) “to offer services such as trading, lending and investing without using a traditional centralized intermediary,” according to finding shared by the Bank for International Settlements (BIS). The fact that DeFi components can be programmed “may open… Read More

January 4, 2023 @ 11:27 pm By Omar Faridi  |  

Historically, London has enjoyed an “outsized” role in euro-denominated financial transactions, according to an update shared by the Bank for International Settlements (BIS). BIS has examined the latest evidence on whether Brexit has “affected its central role in trading of interest rate derivatives, foreign exchange,… Read More

November 7, 2022 @ 9:43 am By Omar Faridi  |  

The BIS Innovation Hub is launching a new project around central bank digital currencies (CBDCs) and Decentralized Finance (DeFi) protocols “as part of its 2022 work program.” Project Mariana “explores automated market makers (AMM) for the cross-border exchange of hypothetical Swiss franc, euro and Singapore… Read More

October 14, 2022 @ 6:11 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and Bank Indonesia recently announced the winners of the G20 TechSprint 2022 challenge during a live award ceremony in Jakarta. This year’s competition, under the Indonesian G20 Presidency, was launched in April to catalyze new technologies that “would better… Read More

October 2, 2022 @ 11:56 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden are launching Project Icebreaker, a joint exploration of how central bank digital currencies (CBDCs) can be “used for international retail and remittance payments.” Cross-border payments “continue to be plagued by… Read More

September 20, 2022 @ 11:10 pm By Omar Faridi  |  

The BIS Innovation Hub’s Hong Kong Centre and the Hong Kong Monetary Authority have introduced Project Dynamo, which aims “to deliver a prototype for the compliant use of decentralized finance (DeFi) tools, such as blockchain and smart contracts, to improve access to finance for unfunded… Read More