EUR/USD 1.17797
0.486%
Gold 4723.80
0.784%
Oil 92.012
-2.817%
USD/JPY 156.725
-0.130%
GBP/USD 1.36276
0.570%
GBP/JPY 213.582
0.450%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 10th, Florida-based George E. Warren Oil Corp. announced it will export 1 million barrels of Venezuelan crude this month, breaking the dominance of Trafigura and Vitol since the beginning of the year. This is the companys first deal since the easing of US sanctions. Venezuelan oil exports rose to nearly 1.2 million barrels per day in April, a seven-year high.According to Iranian media PressTV, the Iranian Foreign Minister stated that ceasing aggression and abandoning excessive and unreasonable demands are necessary conditions for advancing diplomacy.According to Saudi media outlet Alhadath, sources say Hezbollah is awaiting a response from the Lebanese president regarding his request to reopen communication channels.According to Saudi media outlet Alhadath, sources say Hezbollah is attempting to reopen communication channels with the Lebanese president.On May 10th, Spanish Interior Minister Fernando Grande-Marlasca Gómez announced that Germany, France, Belgium, Ireland, and the Netherlands would send planes to evacuate their citizens from the Hantavirus-affected cruise ship, the "Hundius." Spanish Health Minister Monica García stated on the same day that the "Hundius" was expected to arrive in Tenerife, Spain, in the early hours of May 10th local time. According to Spanish officials, in addition to the aforementioned five countries, the EU would send two more planes to evacuate the remaining EU citizens from the ship. The United States and the United Kingdom are arranging contingency plans for non-EU citizens who cannot access air services. Local authorities warned that the evacuation of cruise ship personnel must take place between May 10th and 11th due to the possibility of strong storms in the nearby waters. World Health Organization Director-General Tedros Adhanom Ghebreyesus issued an open letter on May 9th stating that there are currently no new suspected cases on board. The WHO assesses that the public health risk posed by the Hantavirus remains "low."

NY Fed official: Digital dollar could speed foreign exchange settlement

Cory Russell

Nov 07, 2022 15:06

微信截图_20221107105651.png


Using a central bank digital dollar to shorten settlement times in foreign currency markets, according to a senior Federal Reserve Bank of New York official, has potential.


The head of the bank's markets division, Michelle Neal, did not indicate that the introduction of a central bank digital currency, or CBDC, was near. But she said that bank research has shown how this particular kind of money may help an important aspect of the financial system.


Neal said in the text of comments prepared for a conference in Singapore that foreign currency spot transactions "are crucial in the context of cross-border payments, and serve as a building block for lengthier, more sophisticated transactions." She said that there is potential for improvement since the settlement of these deals takes roughly two days.


A Fed digital dollar used in wholesale transactions, together with the capability to record transactions, "results in immediate and atomic settlement," the research endeavor claims.


In less than 10 seconds, on average, settlement might happen, according to Neal's study, "indicating that horizontal scalability was viable."


The Federal Reserve has been looking on ways to introduce a totally digital dollar, known as Fedcoin by some. According to Fed officials, elected officials would need to endorse the launch of any such asset.


Some central bankers have questioned the need of a CBDC for the United States.


Before the New York Fed's report on the study project was released, Neal made his remarks.


The first phase of work "revealed promising applications of blockchain technology in modernizing critical payments infrastructure," according to Per von Zelowitz, director of the bank's New York Innovation Center, in that press release. "Our inaugural experiment provides a strategic launch pad for further research and development regarding the future of money and payments from the U.S. perspective," he added.


The research issued a warning that its conclusions "are not meant to achieve any particular policy result" and did not have consequences for the implementation of a completely digital central bank currency.

Suggestion