The Americas
Debt-related driving bans create instability – Fed research
Punishments disproportionately affect low-income and minority communities
Governors rarely removed by central bank boards
Ultimate responsibility broadly vested in heads of state, other government entities
Switch to gold standard could stabilise prices – Philadelphia Fed research
Hypothetical return to monetary system would only lead to short-term price movements, study finds
Governors’ terms average just over five years
Central bank chiefs are typically allowed two consecutive terms in office
Around half of governments consult central banks on mandate reviews
Practice less likely to be found in Asia-Pacific and the Americas
Some US banks vulnerable due to non-deposit funding, paper finds
Banks reliant on capital markets saw profits fall during tightening cycle, researchers say
Stablecoins show ‘flight to safety’ dynamics – NY Fed paper
Researchers argue these runs on stablecoins could cause wider financial instability
Current US wage trends may be here to stay – NY Fed research
Researchers present new tools for predicting wage growth in US
Most central banks’ cloud services are software-focused
Operational environment is largely hybrid and public, while access to server is often domestic
Fintech employees trained in AI in just over one-third of central banks
Senior management staff are least trained across jurisdictions
AI being adopted in over half of central banks
Supervision, document automation, data analysis and research are primary areas of use
Regtech strategy still lacking in majority of central banks
Stress testing, AML/CFT risk and reporting are top areas of application
Suptech strategy adoption remains below 50%
Resource constraints and data quality issues are still barriers
Nearly all central banks see CBDC as environmentally friendly
Few jurisdictions see initiative as comparable to banknotes’ lifecycle
Central banks fear CBDC will heighten cyber threats
European jurisdictions less likely to be deterred by security concerns
Improving domestic payments efficiency drives retail CBDC research
Barriers to adoption include concerns around privacy, disintermediation and operational risk
Wholesale CBDC work remains less popular than retail
Like retail, central banks say domestic payments efficiency is key driver
One in four central banks exploring blockchain, DLT and tokenisation
No respondents say they are researching or collaborating on quantum computing
Legal mandates for CBDC issuance remain rare among central banks
Some await parliamentary approval as framework examination commences in their jurisdictions
More than half of central banks have a fintech strategy
Implementation challenged by poor regulation and talent scarcity
ISO 31000 and COSO–ERM remain central banks’ leading standards
Central banks from high income countries less likely to use COSO–ERM
Mean risk management salary greater in high income countries
Salaries average $72,738 in rich countries but $33,464 in upper-middle income nations
Wage growth ‘has not impacted US inflation’, says Boston Fed
Study finds pay still has some way to go before reaching a level that would affect consumer prices
Lower immigration affecting US household spending power
Low immigration has contributed to increased prices of consumer goods, argues Atlanta Fed