Tagged: european central bank

ICYMI: ECB Panel on Central Bank Digital Currencies. A Digital Euro

It has been widely reported that the European Central Bank (ECB), has selected Amazon (NASDAQ:AMZN) alongside CaixaBank, Worldline AS, Nexi SpA, and EPI, to participate in a prototyping exercise as part of a review of a Central Bank Digital Currency (CBDC) or digital Euro. The… Read More

CaixaBank Selected by ECB to Collaborate in Prototyping Digital Euro

The European Central Bank (ECB) has selected CaixaBank and four other organizations to collaborate in the development “a prototype of a digital euro.” The institution launched a call with the aim of “selecting entities to develop technology projects associated with the creation of the European… Read More

European Central Bank Raises Interest Rates 75 Basis Points, Targets 2% Inflation

The European Central Bank (ECB) announced an interest rate increase of 75 basis points – matching the US Federal Reserves’ last bump – as it targets a 2% rate of inflation. The rate increase was the largest ever in the history of the ECB. The… Read More

European Central Bank Worries About Crypto and Systemic Risk … No Contagion – Yet

Contagion is a scary term. Systemic risk is its friendlier sibling but both raise eyebrows. Today, the European Central Bank (ECB) is bringing attention to the possibility of crypto contagion as interest grows in digital assets and recent events highlight the ability for a rapid… Read More

ECB President Christine Lagarde Slams Crypto: “Worth Nothing”

European Central Bank (ECB) President Christine Lagarde hammered cryptocurrencies this past week during an interview with a Dutch broadcaster according to a report in Bloomberg. Lagarde, an EU official who has long expressed her interest in digital assets, is quoted stating: “My very humble assessment… Read More

Augmented Intelligence Provider Squirro to Work with European Central Bank on Risk Insights

Squirro, an “Augmented Intelligence solutions provider,” has been awarded a contract with the European Central Bank (ECB) to provide insights into risk and the countries that have adopted the Euro. Squirro notes that it is already working with the German Bundesbank and the Bank of… Read More

ECB President Christine Lagarde Says Final Decision on Digital Euro in 2024

In a speech delivered to the European Parliament, Christine Lagarde, the President of the European Central Bank (ECB), stated that a decision on a digital Euro will be made by 2024. The ECB decided to launch the investigation phase of the digital euro project in… Read More

European Central Bank Releases Action Plan to Address Recommendations after TARGET Incidents in 2020

The European Central Bank (ECB) has published an action plan to address the recommendations of an independent review “mandated by the ECB’s Governing Council in November 2020, following the five major incidents that affected TARGET2 and TARGET2 Securities in 2020.” The update from the ECB… Read More

Bank of Ireland to Pay €24.5 Million Fine for Allegedly Failing to Maintain Proper IT Systems

The Bank of Ireland has reportedly been fined €24.5 million by the Central Bank for failing over the course of over 10 years to have a proper system in place to allow for the continuity of service to clients in the event of a major… Read More

European Central Bank Reports that User Testing Began for New T2 System

Prospective users of the forthcoming large-value payment system T2 are able to begin testing the functionalities of the system as of December 1, 2021. The testing is scheduled to run over the coming year and will “allow participants to prepare for a smooth migration to… Read More

UK Fintech Modulr to Bring Fast-Tracked Financial Technology to Europe with Netherlands Expansion

Fintech firm Modulr has now opened business offices in the Netherlands, which will serve as “the springboard for its EU-wide expansion in 2022 and 2023.” Following steady business growth in the United Kingdom during the last 5 years, Modulr is expanding rapidly, putting significant investment… Read More

European Interest Rates Show Unique Spreads: Raisin Analysis

An analysis of European interest rates by Raisin DS shows what you earn depends on where you live. The average rate in Germany hit a recent low of -0.04 per cent, according to the ECB. The Spanish see a meager 0.01 per cent but the… Read More

UK Fintech Minted Explains Why Gold Remains Important Element of Global Monetary System

Over the years, tonnes of gold has been mined. Researchers, reporters/journalists, investors, as well as gold bullion dealers have been focused on tracking the estimated total amount of “overground” gold across the globe, the team at UK-based Minted notes. The Financial Conduct Authority approved Fintech… Read More

Latest Glitch for ECB Payment System Suggest Program Well Off Target

A glitch in the European Central Bank’s payment system left several Eurozone commercial and central banks far off target Monday afternoon. It is the latest in a long run of issues plaguing the program. The Target system, which is supposed to connect commercial and central… Read More

Italian Challenger Bank AideXa Acquires Banking License from ECB, Will Offer Short-Term Credit Facilities

AideXa, an Italian banking challenger for small businesses, has reportedly acquired a full banking license which was issued by the European Central Bank (ECB). Established by Roberto Nicastro, ex- GM at Unicredit, Banca AideXa aims to leverage AI and Open Banking to better serve SMEs… Read More

Here are the Results of the European Consultation on a Digital Euro, Privacy is the Top Request

Back in October of 2020, the European Union launched a consultation on the possibility of creating a central bank digital currency (CBDC) or digital euro. The results of the consultation will help guide the European Central Bank’s decision as to whether, or not, to launch… Read More

European Central Bank Issues Specialized Banking License to Lithuania-based Firm UAB SME Digital Financing

After a proposal from the Bank of Lithuania, the European Central Bank (ECB) has reportedly issued a specialized banking license to the Lithuanian capital company UAB SME Digital Financing. It’s now expected that after acquiring such a permit, UAB SME Digital Financing will begin accepting… Read More

ECB President Christine Lagarde Wants Global Regulation of Bitcoin Due to Money Laundering Concerns, FATF Plans Update on Implementation of VASP Rules

Last week, Christine Lagarde, the President of the European Central Bank (ECB) commented on the need to regulate Bitcoin on a global level last week during a virtual event hosted by Reuters. Speaking at the Reuters Next conference, Lagarde pointed to the “funny business” affiliated… Read More

ECB Digital Euro Consultation: Over 8000 Responses, Many Privacy Concerns

The European Central Bank (ECB) reports that it has received 8221 comments regarding its consultation on a digital euro or central bank digital currency (CBDC).  Chief among the comments are privacy concerns as government ledgers for a digital currency raises serious questions about data control…. Read More

Industry Insiders Comment on Digital Euro Prospects: “Alternative forms of payment are here to stay”

Last week, the European Central Bank published a report published addressing the possibility of the issuance of a digital euro. The report was prepared by the Eurosystem High-Level Task Force on central bank digital currency (CBDC) and approved by the Governing Council thus representing he… Read More

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