The siren call of T+0, or real-time settlement

The NYSE’s clearinghouse in 1898, six years after its founding Traditional financial systems often get mocked for being slow. In North America, for instance, securities markets have recently switched from…

I last wrote about Fedwire data two years ago. Since then, Fedwire has entered into a (nominal) recession. Is this something we need to worry about? We should be interested…

Early map of Fedwire. Source: FRBNY The pace of Fedcoin sightings has been accelerating this year. If you’re new to this blog, Fedcoin is a catch-all term I like to…

Canada trails the U.S. is a common refrain, but not when it comes to payments. Courtesy of the Interac e-transfer service, Canadians have been able to make person-to-person (P2P) payments…

Milton Friedman’s alleged license plate, showing the equation of exchange The excruciatingly large revisions that U.S. first quarter GDP growth underwent from the BEA’s advance estimate (+0.1%, April 30, 2014)…

Like Guntram Wolff over at the Bruegel blog, I hope that the much-rumoured capital controls on Cypriot deposits don’t get enacted. So far the Euro authorities seem to have done…