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Nonbank e-money issuers : regulatory approaches to protecting customer funds : Emisores no bancarios de dinero electronico: enfoques de reglamentacion para proteger los fondos de los clientes (Espanhol)

Mobile-Swahili for Money (M-PESA), Kenya's mobile phone-based money transfer service, exploded onto the scene in 2007. In just three years, it has attracted over 9.5 million customers, in a country with only 8.4 million bank accounts. Every month, more than US$320 million flows through M-PESA in person-to-person transfers, and the numbers keep rising. This focus note reviews global regulatory approaches to protecting customer funds in the context of nonbank e-money issuers. Most every regulatory approach includes provisions for 'fund safeguarding', the requirement that nonbanks maintain unencumbered liquid assets equal to the amount of issued electronic value, and other measures to ensure availability of funds when redeemed by customers against electronic value. Some regulatory approaches also include 'fund isolation', the requirement that the funds underlying issued e-money be insulated from institutional risks of claims by issuer creditors, such as claims made in the case of issuer bankruptcy.

Detalhes

  • Autor

    Breloff,Paul Joseph, Tarazi,Ala Michael

  • Data do documento

    2010/07/01

  • TIpo de documento

    Informativo

  • No. do relatório

    56629

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Mundo,

  • Região

    Regiões Mundiais,

  • Data de divulgação

    2013/12/11

  • Disclosure Status

    Disclosed

  • Nome do documento

    Emisores no bancarios de dinero electronico: enfoques de reglamentacion para proteger los fondos de los clientes

  • Palavras-chave

    bank accounts, bank deposit, bank deposits, Bank Indonesia, Bank Negara Malaysia, Banking Models, banking sectors, banking service, banking services, banking supervision, Blog, bond, Bonds, branchless banking, Branchless_Banking, business models, capabilities, capital funds, Capital Markets, capital requirements, Central Bank, collateral, Commercial activities, commercial bank, commercial banks, contractual relationship, coordination failure, creditor, creditor claims, creditors, customer base, customer demand, customer request, debt, debt securities, debts, deposit, deposit account, deposit insurance, deposit insurance coverage, deposit insurance schemes, depositor, depositors, deposits, developing countries, developing country, developing economies, E-Money, e-money scheme, e-money schemes, electronic devices, Electronic Money, emerging market, end user, end users, extension of credit, financial crisis, financial institution, financial institutions, financial service, financial services, financial services provider, financial system, financial systems, funds transfer, funds transfers, general public, government securities, holding, Holdings, income, individual accounts, innovative technology, Insurability, insurance system, interest payments, issuance, issuer bankruptcy, jurisdiction, jurisdictions, Level Playing Field, liability, License, liquid assets, Liquidity, mandates, marketing, Microfinance, mobile network, mobile phone, mobile telephony, money transfer, networks, Nonbanks, operating expenses, payment instruments, payment mechanism, payment of interest, payment services, payments service, pdf, prudential regulation, prudential requirements, Public Saving, rates of interest, regulator, regulators, Regulatory Approaches, regulatory authorities, Regulatory Oversight, regulatory scheme, remittances, reserve, reserve requirements, result, risk of bank failure, savings, savings account, server, service provider, service providers, service provision, storage of data, time deposit, traditional banking, transaction, trustee, users, uses, Web, Web site, working capital

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