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Ripple XRP joins ISO 20022 The Global Payment Standard

Gesara.news » News » Ripple XRP joins ISO 20022 The Global Payment Standard

News Date: May 7, 2020

Cross-border payments network Ripple (XRP) announced that it has become part of the ISO 20022 Standards Body, becoming its first member focused on distributed ledger technology (DLT). The new payment messaging standard is set to replace SWIFT MT messages as the standard format for cross-border and high-value payments.
Source:coinspeaker.com

FED will adopt ISO 20022 message format

Federal Reserve Board announces the Reserve Banks will adopt a new message format for the Fedwire Funds Service and invites public comment on proposal to expedite adoption.
The Federal Reserve Board on Monday announced that the Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service.
The change will allow for enhanced efficiency of both domestic and cross-border payments, and a richer set of payment data that may help banks and other entities comply with sanctions and anti-money laundering requirements.
Sources: www.federalreserve.gov

Supreme Court justice to serve the American people

Amy Coney Barrett said Saturday that, if confirmed as a United States Supreme Court justice, she would assume the role to serve the American people.
Judge Amy Coney Barrett: "I love the United States, and I love the United States Constitution."
Sources:twitter.com/WhiteHouse, www.whitehouse.gov

De-dollarization movement started

Russian Foreign Minister Sergey Lavrov has expressed confidence in the ongoing momentum toward the de-dollarization of the global economy, a movement supported by several nations.
Officials from Iran, Venezuela, and Ethiopia have shown a willingness to adopt Russia's Mir payment system without hesitation.
Moreover, these countries envision a seamless transition toward their de-dollarization objectives in the foreseeable future, as indicated by their respective officials.
'De-dollarization has begun, both in practice and in conceptual speeches', Lavrov stated during the latest assembly of Russia's Council on Foreign and Defense Policy think tank.

US Space Force the Guardians of QFS?

The new name for military space professionals, announced on Friday by Vice President Mike Pence, may appear to be a play on the Marvel superhero film Guardians of the Galaxy. But Space Force officials said it was a callback to a 1983 motto.
Vice President Mike Pence announces that uniformed members of the U.S. Space Force will be called Guardians. There you have it: Soldiers, Sailors, Airmen, Marines and Guardians.
What is the enemy right there in the space? We have not been attacked by aliens. Maybe QFS satellites need more protection.
Sources: twitter.com, www.defenseone.com

Basel IV Regulations Impact for Banking Industry

Basel IV Rules Will Arrive and Complicate Bank Lives Even Further.
New Banking Rules Will Tighten Credit Standards, according to Morgan Stanley.
According to Morgan Stanley analysts, the Fed will issue new bank capital regulations between late May and early July, which will be followed by a comment period and a final rule that will be implemented gradually between 2025 and 27.
For their US Large-Cap Banks coverage, they anticipate that the implementation of this Basel IV, often known as the 'Basel III Endgame,' will result in increased risk-weighted assets (RWAs) and capital requirements, with a focus on Global Systemically Important Banks (GSIBs).
The name 'Basel' comes from the city of Basel in Switzerland, where the Basel Committee on Banking Supervision was established in 1974.
The committee is made up of representatives from central banks and regulatory authorities from around the world, and its primary goal is to promote international financial stability by developing and promoting supervisory standards and guidelines for the banking industry.

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