European banks are bracing for significant financial impacts as the EU’s SEPA Instant Payments regulation mandates 24/7 euro credit transfers by October 2025. Nearly half of surveyed banks anticipate losing millions in
The United States is taking a monumental step in its currency system by discontinuing the production of the penny, a decision that marks the end of over 230 years of its circulation.
HSBC has launched a tokenised deposit service in Hong Kong, marking a groundbreaking step in integrating blockchain technology into traditional banking. This new service allows corporate clients to convert their Hong Kong
The UK Department for Work & Pensions (DWP) has initiated a strategic procurement process to identify a supplier of open banking technology for its Universal Credit (UC) system. This move aims to
Sweden’s central bank, Sveriges Riksbank, has issued a strong recommendation for the continued use of cash, advocating for legislative action to ensure its availability alongside digital payment methods. With the country moving
Santander UK is implementing significant cost-cutting measures within its commercial banking division, including a salary freeze, reduced bonuses, and job cuts potentially affecting up to 200 staff members. These changes are part
The European Central Bank (ECB) has postponed the deadline for non-bank payment service providers (PSPs) to access its central bank-operated payment systems, including TARGET, the system for large-value payments. Originally scheduled for
The Bank for International Settlements (BIS) and the Federal Reserve Bank of New York have conducted a joint study, Project Pine, to examine how central banks might implement monetary policy in a
The U.S. banking sector is advocating for changes to the Supplementary Leverage Ratio (SLR), a regulation that requires banks to hold capital against all assets, including low-risk ones like U.S. Treasury securities.
Global banking regulators, under the guidance of the Bank for International Settlements, have agreed to prioritize the integration of climate-related financial risks into their supervisory frameworks. This step highlights the increasing recognition
