Featured Product

    BIS and SNB Sign Agreement on Innovation Hub Center in Switzerland

    October 08, 2019

    BIS and SNB signed an operational agreement on the BIS Innovation Hub Center in Switzerland. The initial two projects the Hub will work on involve the integration of digital central bank money into a distributed ledger technology infrastructure and the effective tracking and monitoring of fast-paced electronic markets.

    The first project of the Swiss Center will examine the integration of digital central bank money into a distributed ledger technology infrastructure. This new form of digital central bank money would be aimed at facilitating the settlement of tokenized assets between financial institutions. Tokens are digital assets that can be transferred from one party to another. The project will be  part of a collaboration between the SNB and the SIX Group in the form of a proof of concept. The second project will address the rise in requirements placed on central banks to be able to effectively track and monitor fast-paced electronic markets. These requirements arise not only from the greater automation and fragmentation of the financial markets, but also from the increased use of new technologies.

    The Hub will identify and develop in-depth insights into critical trends in technology affecting central banking; develop public goods in the technology space geared toward improving the functioning of the global financial system; and serve as a focal point for a network of central bank experts on innovation. Agustín Carstens, General Manager of the BIS, said: "We are very proud that one of the first three Hub Centers will be here in Switzerland, where the BIS has been based for nearly 90 years. Switzerland is a hotbed of innovation. This comes on top of its overall competitiveness, well-established financial ecosystem, and strong academic institutions specializing in technology." In the initial phase, Hub Centers will be established in Switzerland, Hong Kong SAR, and Singapore. 

     

    Related Links

    Keywords: International, Europe, Switzerland, Banking, Digital Currency, Central Banking, Regtech, Fintech, Distributed Ledger Technology, Innovation Hub, BIS

    Related Articles
    News

    FSB Report Examines Implementation and Impact of G20 Financial Reforms

    FSB published fifth annual report on the implementation and effects of the G20 financial regulatory reforms.

    October 16, 2019 WebPage Regulatory News
    News

    EBA Launches Consultation on Comprehensive Pillar 3 Disclosures

    EBA proposed the new comprehensive implementing technical standard (ITS) for public disclosures by financial institutions.

    October 16, 2019 WebPage Regulatory News
    News

    EBA Consults on Revised Technical Standards on Supervisory Reporting

    EBA launched a consultation on the revised implementing technical standards, or ITS, on supervisory reporting.

    October 16, 2019 WebPage Regulatory News
    News

    APRA Proposes Measures to Strengthen Capital for Bank Depositors

    APRA proposed changes to APS 111, which is the prudential standard on measuring capital adequacy and establishes the criteria for regulatory capital requirements of authorized deposit-taking institutions.

    October 15, 2019 WebPage Regulatory News
    News

    FSB Report Examines Implementation of OTC Derivative Reforms

    FSB published annual progress report on implementation of the agreed G20 reforms for over-the-counter (OTC) derivatives markets.

    October 15, 2019 WebPage Regulatory News
    News

    FSB Publishes Update on Its Market Fragmentation Work

    FSB published an update on its work to address the issue of market fragmentation.

    October 14, 2019 WebPage Regulatory News
    News

    FCA Releases Feedback to Online Survey on New Data Collection Platform

    FCA published results of the survey requesting feedback for the new data collection platform that will replace GABRIEL.

    October 14, 2019 WebPage Regulatory News
    News

    HKMA Reduces Countercyclical Capital Buffer in Hong Kong to 2.0%

    HKMA announced that the countercyclical capital buffer (CCyB) for banks in Hong Kong has been reduced from 2.5% to 2.0%, with immediate effect, in accordance with the Banking (Capital) Rules.

    October 14, 2019 WebPage Regulatory News
    News

    EC Consults on Implementation of Final Basel III Reforms in EU

    EC launched a public consultation on the implementation of Basel III standards in EU.

    October 11, 2019 WebPage Regulatory News
    News

    MAS Amends Regulation on Clearing of Derivatives Contracts

    MAS amended regulation for the mandatory centralized clearing of certain derivative contracts.

    October 11, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3971