CBPN Latest News

Infrastructure
Danmarks Nationalbank: Future-Proofing the Danish Payments Infrastructure
The settlement of the Danish krone (DKK) is scheduled to migrate to the European payment and securities settlement platform TARGET Services in 2025. The Danish krone will be the first non-euro currency to be connected to all TARGET Services for payments and securities settlement. The migration is a ...
CBDC
CBDC Needs a Plan B in Global Crises and Uncertainties
The focus of this article is to consider the relevance of a concern often raised in the context of the development of CBDC, namely the potential bank run scenario. This scenario is one of the justifications for the central bank preference to set limits to the funds that can be loaded onto a CBDC acc...
Instant Payments
Central Bank of Iceland's Journey in Instant Payments and Cannibalization of RTGS Payments
Iceland's journey in the realm of instant payments is historic, dating back to 2002 with the initiation of the Central Bank of Iceland's large value payment system, SG, followed by the introduction of the instant payment system, JK, in 2003. These systems, collectively referred to as the Central Ban...
Instant Payments
Al Etihad Payments: Aani Instant Payments Platform - Redefining UAE's Financial Landscape
The Central Bank of the United Arab Emirates is actively pursuing digital innovation through the Financial Infrastructure Transformation (FIT) Programme. Among other key objectives, the FIT Programme focusses on driving financial inclusion, promoting payment innovation, enhancing security and effici...
Cross-Border Payments
GLEIF - Fighting Crime with Transparency in Cross-border Payments: The Need for Universal Entity Identification
The Legal Entity Identifier — as a unique global identifier — can solve the critical problem of insufficient transparency in counterparty identification in cross-border payments ecosystems. Why? Adding the LEI as a data attribute in payment messages allows any originator or beneficiary legal entity ...
Instant Payments
ProgressSoft: Regulatory Strategies for a Resilient Instant Payment Landscape
The pace of evolution in instant payments, also known as real-time or fast payments, has been phenomenal, especially in emerging economies, and has acted as a catalyst to kickstart economic activities. Regulators and governments worldwide are striving to unlock economic growth potential through digi...
Retail Payments
Portugal: A Renewed National Strategy to Add Efficiency and Modernisation to Retail Payment Services
Following the successful implementation of the first national retail payments strategy in 2022, new challenges illustrate the dynamic nature of the payments ecosystem paving the way for the adoption of a second edition, with renewed focus and a result of work done by the Payments Systems Forum, aimi...
Cross-Border Payments
Decoding ISO 20022: Lessons for Cross-Border Payments
As ISO 20022 adoption gains momentum, we believe that policymakers and the broader financial services community can leverage insights from the last 15 years of ISO 20022 implementations, while also drawing from card networks’ more than 40 years of experience to modernize payments systems, improve in...
CBDC
VOX DEI: The Criticality of Consumers’ Voices in the Development of CBDC
The emerging consensus that consumer acceptance is a critical success factor in a CBDC deployment compels countries at all stages of CBDC development to align their designs closely with consumer needs and expectations. These insights can only be established from an effective consumer understanding s...

IN THIS ISSUE: February 2024

  • In 2025, the Danish krone (DKK) will become the first non-euro currency to connect to all TARGET Services for payment and securities settlement. In conjunction, Danmarks Nationalbank is also developing the future payments infrastructure in Danish kroner, TARGET DKK. In our Feature this month, Tommy Meng Gladov and Mikkel Kraggelund share insights on these developments and the benefits of migrating to TARGET Services.
  • Bank of Finland External Advisor Antti Heinonen explores whether the public’s trust in cash can be transferred to a CBDC during times of crises and uncertainty
  • Plus, our round-up of all the latest payments news of the past month, must-read reports, and more.
READ MORE
IN THIS ISSUE: February 2024