In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Hearing held by the U.S. House of Reps. Capital Markets Subcomm. Witnesses: Brooksley Born, Commodity Futures Trading Comm.; Dale Carleton, State Street Corp.; Ian Domowitz, Smeal College of Bus. Admin., Penn. State Univ.; Craig Donohue, Chicago Mercantile Exchange; James Kamihachi, Office of the Comptroller of the Currency; John Katovich, OptiMark Technologies, Inc.; Howard Lutnick, Cantor Fitzgerald, Cantor Exchange; Arthur Murton, FDIC; Volker Potthoff, Eurex Deutschland, Frankfort, GMBH; Frank Rose, Chicago Board of Trade; Laura Unger, SEC; and Steven Wallman, The Brookings Institution.

A payment system encompasses a set of instruments and means generally acceptable in making payments; the institutional and organizational framework governing such payments, including prudential regulation; and the operating procedures and communications network used to initiate and transmit payment information from payer to payee and to settle payments. This book, by Omotunde E.G. Johnson, with Richard K. Abrams, Jean-Marc Destresse, Tony Lybek, Nicholas Roberts, and Mark Swinburne, identifies main policy and strategic issues in payment system reform, describes the structure of payment systems in selected countries, highlights areas of consensus, and suggests the direction for future policy analysis.

How to assess securities clearance and settlement systems, based on international standards and best practices.

This book makes a practical contribution to increased understanding of payment system design and management and of the relationship between the payment system and monetary policy. The authors of the twelve papers included in the book are central banking experts from around the world who draw on their experiences in providing technical assistance to the central banks of the countries of the former U.S.S.R.

"This book is designed to provide the reader with an insight into the main concepts involved in the handling of payments, securities and derivatives and the organisation and functioning of the market infrastructure concerned. Emphasis is placed on the general principles governing the functioning of the relevant systems and processes and the presentation of the underlying economic, business, legal, institutional, organisational and policy issues. The book is aimed at decision-makers, practitioners, lawyers and academics wishing to acquire a deeper understanding of market infrastructure issues. It should also prove useful for students with an interest in monetary and financial issues."--Introduction (Pg. 20, para 8).

Motivated by the literature on the capital asset pricing model, we decompose the uncertainty of a typical forecaster into common and idiosyncratic uncertainty. Using individual survey data from the Consensus Forecasts over the period of 1989-2014, we develop monthly measures of macroeconomic uncertainty covering 45 countries and construct a measure of global uncertainty as the weighted average of country-specific uncertainties. Our measure captures perceived uncertainty of market participants and derives from two components that are shown to exhibit strikingly different behavior. Common uncertainty shocks produce the large and persistent negative response in real economic activity, whereas the contributions of idiosyncratic uncertainty shocks are negligible.

Protocols for Secure Electronic Commerce, Third Edition presents a compendium of protocols for securing electronic commerce, or e-commerce, in consumer- and business-to-business applications. Attending to a variety of electronic payment systems currently in use around the globe, this edition: Updates all chapters to reflect the latest technical advances and developments in areas such as mobile commerce Adds a new chapter on Bitcoin and other cryptocurrencies that did not exist at the time of the previous edition's publication Increases the coverage of PayPal in accordance with PayPal’s amplified role for consumers and businesses Expands the discussion of bank cards, dedicating a full chapter to magnetic stripe cards and a full chapter to chip-and-PIN technology Protocols for Secure Electronic Commerce, Third Edition offers a state-of-the-art overview of best practices for the security of e-commerce, complete with end-of-chapter review questions and an extensive bibliography of specialized references. A Solutions Manual and PowerPoint slides are available with qualifying course adoption.