Tuesday, June 25, 2024
European Central Bank Announcement BY GOLDILOCKS, 25 JUNE
European Central Bank Announcement:
"ECB announces 48 participants in wholesale DLT trials, including HKMA"
The Eurosystem is currently carrying out wholesale Digital Ledger Technology (DLT) settlement trials with the focus on Central Bank money.
The focus of this trial is on the interfacing and use of Central Bank money (wCBDC) as money on the QFS.
The trials involve real payments with volume limits and simulations. The hope is to find interoperability on the payment side of the Central Bank's ability to move money through the new digital banking system.
Domestic payments, securities settlements, and payment versus payment transactions which is where Hong Kong comes in to play.
Payment versus payment transactions is a new term we have not discussed so far. PvP is a settlement mechanism that ensures final transfer of a payment in one currency occurs when and if the final transfer of a payment in another currency completes its transaction.
Here, we are witnessing the interfacing of Central Bank Digital Ledger Technology being Incorporated unto the new QFS.
To be clear, this is not a pilot program where the simulation of money is processed. This is a trial. That being said, a trial utilizes actual money to process through the system.
© Goldilocks
https://www.ledgerinsights.com/ecb-announces-48-participants-in-wholesale-dlt-trials-including-hkma/
Coffee with MarkZ. 06/25/2024
The Central Bank Publishes The Mechanism For Imposing Fines On Private Banks, 25 June
The Central Bank Publishes The Mechanism For Imposing Fines On Private Banks
Economy | 06/24/2024 Baghdad - Mawazine News The Central Bank of Iraq revealed the mechanism for imposing fines on private banks and money changers.
According to a document issued by the bank on the third of this month, “We would like to inform you that imposing fines on banks and non-banking financial institutions is carried out through a specialized committee in this bank whose work is based on Central Bank Law No. (56) of (2004) and Banking Law No. (94) of (2004) and the instructions and controls that regulate banking operations.”
He added, “In view of the bank or non-banking financial institution’s violation of these laws, instructions and controls, noting that the purpose of imposing fines on banks and non-banking financial institutions is to prevent them from committing violations of the laws mentioned above and the instructions issued pursuant to them to protect them and ensure their safety and the safety of the financial sector in general.” . https://www.mawazin.net/Details.aspx?jimare=250153
Evening News with MarkZ. 06/24/2024
"THEY ARE PASSING GAS... LOL!!!" BY FRANK26, 29 SEPT
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