Bank Indonesia (BI), Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas (BSP), Monetary Authority of Singapore (MAS), and Bank of Thailand (BOT) have agreed to strengthen and enhance cooperation on payment connectivity to support faster, cheaper, more transparent, and more inclusive cross-border payments. A Memorandum of Understanding (MOU) on Cooperation in Regional Payment Connectivity (RPC) was signed on 14 November 2022 in Bali, Indonesia, on the sidelines of the G20 Leaders’ Summit with keynote address from Indonesia’s President, His Excellency Joko Widodo.

Keynote Remarks by Mr Ravi Menon, Managing Director, Monetary Authority of Singapore, and Chair, Network for Greening the Financial System.

Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type of money substitution by digital money. The paper straddles several cases where substitution of CiC (currency in circulation), and bank deposits may take place via digital money such as CBDC or other e-money, and how it would impact the central bank balance sheet. Remuneration of CBDC, if aligned to a new objective, could potentially amplify the effect on the interest rate channel of monetary policy.

The central banks of Pakistan and China have signed a memorandum of understanding (MoU) on setting up yuan clearing arrangements in the South Asian country to increase the Chinese currency's usage for cross-border transactions.

The BIS Innovation Hub is launching a new project around central bank digital currencies (CBDCs) and Decentralised Finance (DeFi) protocols as part of its 2022 work programme.

The world's major central banks and monetary authorities have kicked off studies into CBDC (Central Bank Digital Currencies) in recent years. Monetary authority of Singapore and Swedish central bank have undertaken or contemplated related pilot projects, and the People's Bank of China (PBC) is also actively exploring the possibility of introducing its CBDC in this second largest economy in the world. This article puts forward some thoughts on issuing CBDC in China.

The Deutsche Bundesbank, together with 19 national central banks of the European System of Central Banks and the European Central Bank, have today launched an EU-funded programme.

The arrangement aims to provide liquidity support for participating central banks during future periods of market volatility by creating a reserve pool