Tag: Bank

BRICS Bank ‘Re-taps Into USD Bond Market’ With $1.25 Billion ‘Green’ Bonds – Finance Bitcoin News

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The development bank established by the BRICS group of nations has issued its first “green” bonds in U.S. dollars (USD). Proceeds from the placement will be used to fund “green” projects supported under the banking institution’s sustainable financing policy. BRICS Development Bank Launches 3-year ‘Green’ Bonds The New Development Bank (NDB), founded by the BRICS bloc, has placed three-year “green” bonds on international capital markets in the amount of $1.25 billion, the bank announced in a press release on Thursday, quoted by the Tass news agency. The benchmark bond has…

Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition – Regulation Bitcoin News

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The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make itself the country’s sole regulator of virtual assets. The Battle to Control and Regulate Virtual Assets The Bank of Korea (BOK) is set to be granted its wish to investigate virtual assets after the country’s Financial Services Commission reportedly dropped…

Bank of Russia Has Stockpiled Reserve Comprised of Non-US Sanctioned Assets, Governor States – Economics Bitcoin News

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Elvira Nabiullina, governor of the Bank of Russia, has affirmed the bank has stockpiled reserves in assets that are not susceptible to being affected by U.S. sanctions. The official clarified that Russia has built a “safety cushion” in these assets while it continues working on creating new reserves in non-U.S. sanctioned assets. Russia Built Bank Reserves out of Non-Sanctioned Assets Russia has managed to create a so-called safety cushion for its economy, based on assets that are not susceptible to being blocked by U.S. sanctions, according to Elvira Nabiullina, governor…

Bank of Russia to set up entities for crypto mining and cross-border settlement: Report

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Russia is taking further steps to mitigate global sanctions in place since the invasion of Ukraine in 2022. According to local media reports, the country’s central bank plans to create new institutions to mine crypto assets and settle international payments.  In a meeting in the State Duma — one of the chambers of the Russian parliament — the head of the central bank, Elvira Nabiullina, announced that the Bank of Russia would allow cryptocurrency to be used in external settlements in a pilot program. The move, however, does not signal…

Belarus to decide on issuing CBDC by year’s end: National bank chair

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The National Bank of the Republic of Belarus has prepared a pilot program for a central bank digital currency (CBDC), according to the official BelTA news agency. The country will make a decision on the issuance of a digital Belarusian ruble by the end of the year, chairman of the national bank Pavel Kallaur said.   “By the end of the year, after discussions and consultations, we should determine the possibility and feasibility of introducing a digital ruble in our country,” Kallaur said. “The decision will be made at the…

Bank of England and BIS Completes Project Meridian for DLT Settlement Program

The researchers at Project Meridian identified several benefits of synchronization including reduction of risk, time, and cost invoked in settling a range of transactions. In a joint financial program dubbed Project Meridian, the Bank of England and the Bank for International Settlements (BIS) Innovation Hub London Centre investigated the use of modern technology to advance financial payments through real-time gross settlement (RTGS) systems. The Project Meridian used central bank money that is free of credit risk and held by commercial banks in RTGS accounts. Notably, the Bank of England published…

BIS, Bank of England concludes blockchain int’l settlements pilot

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The Bank of England and the Bank for International Settlements (BIS) Innovation Hub London Center have tested a blockchain-powered settlements system between the institutions. The insights of Project Meridian will be used by the Bank of England in its real-time gross settlement (RTGS) system.  On April 19, the official site of the BIS published a report about the joint pilot project with the Bank of England called Project Meridian. According to the 44-page document, banks have successfully made a house purchase in Wales and England through the synchronization network using…