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Financial Regulation and Governement

 

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Can we dare make predictions about money?

By Thierry Gaudin
November 2017 - Réalités industrielles
Money is a technique and techniques develop, recasting society in the process. As a result, we need to look at the technical nature of money and its long history, in tandem with societal upheaval. Assuming that money is based on trust, and that this trust develops, this paper attempts, by using examples from this long history, to present factual material that provides an understanding of the ...
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The banknote's future

By Gilles Vaysset
November 2017 - Réalités industrielles
Despite the steady increase in the number of card payments and the growing spread of innovative electronic payment solutions (such as contactless, mobile and instant payments), the circulation of paper money continues to rise in most developed countries.
This only seems like a paradox, for numerous studies and estimates show that the proportion of banknotes held for ...
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Who are the stakeholders
in the instant payment revolution?

By Jean-Marie Vallée
November 2017 - Réalités industrielles
November 2017 marked the rollout of instant payment. Using instant payment, sums (initially capped at €15,000) can be immediately transferred to and from accounts. The money will be available in the beneficiary’s account in less than ten seconds, and payments can be made 24 hours a day, seven days a week, every day of the year.
...
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Will instant payment replace cash?

By Rémi Steiner
November 2017 - Réalités industrielles
Payment services in the United Kingdom have undergone a thoroughgoing change. British consumers and firms were resigned to antiquated, second-rate payment services, and to waiting at least three days for a payment to be executed. Over the past decade, they have become accustomed to nearly instant bank transfers and to a burgeoning offer of new services. ...
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How the Riksbank encourages innovation in the retail payments market

By Cecilia Skingsley
November 2017 - Réalités industrielles
Sweden is a low cash society on the verge of becoming a very, very low cash society. Decreasing cash usage is, of course, mirrored in increasing use of electronic payments. The Swedish Central Bank managed to construct a scheme where the fast payments are backed by central bank money. Today, over half of the Swedish population have downloaded the fast payments app (Swish) on their smart ...
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Several legal and historical perspectives
for prohibiting cash payments

By Myriam Roussille
November 2017 - Réalités industrielles
Is this the end of cash in France? Only the future will tell us but, for now, one thing is certain: the French have never made wide use of cash to pay their bills. This is not simply due to their dislike of coins and notes but also, and perhaps above all, to the French authorities’ use of regulations to steer payment habits for several decades now.
...
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Digital Base Money: a few considerations
from a central bank’s perspective

By Yves Mersch
November 2017 - Réalités industrielles
There are many ways to design Digital Base Money (DBM) for non-banks. The different options have potential impacts – both positive and negative – that need to be studied and considered carefully. Only when the best way of designing DBM has been identified, can a decision be made as to whether DBM of non-banks should be introduced at all.
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Making in-store payment enjoyable by adopting mobile payment

By Gwarlann De Kerviler and Nathalie T. M. Demoulin
November 2017 - Réalités industrielles
The increasing penetration rate of smartphones changes behaviors based on mobile unique features. Our research provides a first attempt to better understand the adoption of in-store smartphone usage to enhance a brick-and-mortar experience. More particularly, it focuses on proximity mobile payment (p-m-payment), which corresponds to a recent tendency of shoppers to finalize...
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New payment instruments,
avatars of fiduciary money:
New risk factors for AML/CFT

By Bruno Dalles
November 2017 - Réalités industrielles
The accelerating digital revolution and the development of new payment instruments represent a major challenge for anti-money laundering and combating the financing of terrorism (AML/CFT). Some of these instruments are definitely risky.
In 2016, due to the terrorist threat, French lawmakers restricted the use of electronic money, especially prepaid cards. ....
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Are digital currencies disruptive for central banks?

By Laurent Clerc
November 2017 - Réalités industrielles
Digital currencies represent a small proportion of transactions and are currently not a danger for monetary policy or financial stability. Nevertheless, they are experiencing a spectacular rise. Combining a new form of currency and a new payment system, these digital currencies could, in the near future, be “disruptive” for the banking system and for central banks. ...
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Pieces of a monetary history:
reality and appearances in French specificities

By Patrice Baubeau
November 2017 - Réalités industrielles
You usually have to use an implicit or explicit standard, such as a model or average of observed cases, to pinpoint specific characteristics. For money, the standard is so prevalent that it sometime flags up characteristics, that are ultimately fairly normal, as being specificities. These characteristics do however provide an unconventional view of monetary issues. ...
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The majority of the articles published here were translated from French to English by the Translation Centre of the French economy and finance ministries.
The remaining articles were translated by Noal Mellott.