Latest
US dollar dominance: beyond the ‘exorbitant privilege’
Biagio Bossone argues that dollar ‘seigniorage’ extends into the very structure of global finance and its ‘exorbitant privilege’ is worth up to $804 billion annually
Bank of Japan holds rates amid trade uncertainty
Strong wage growth underpins economic recovery but central bank remains wary of US tariffs
MNB funds funnelled through ‘impenetrable’ structure – state audit
Management firm lost “significant amount” of central bank endowment in real estate investment, report finds
Benchmarking
Central Banking Awards 2025: third group of winners released
Paraguay recognised for market infrastructure and IMF for AI, as green and FMI awards unveiled
Governors serve unlimited terms in half of central banks
While term length averages five years, majority of governors can be dismissed early
Trump taps Bowman to become Fed’s vice-chair for supervision
Designated chief regulator has opposed Basel III endgame and pushed for lighter capital rules
Smaller central banks more likely to manage government debts
Consumer protection widely overseen in larger institutions
ECB tells lenders to regularly tap central bank liquidity
Banks should include refinancing operations in day-to-day liquidity management, say Buch and Schnabel
RBI hails AI’s potential in addressing customer grievances
Malhotra says technology should be integrated at “every stage” of complaints process
Fernando Restoy on supervision, geopolitical risks and the rise of non-banks
FSI chairman shares his plans for the organisation and discusses the latest policy issues, including AI oversight, collateral pre-positioning and capital resilience
Awards
Central bank of the year: Bank of Thailand
The Thai central bank has countered government interference while fulfilling its mandate and striving to future-proof the financial sector
Payment and market infrastructure development: Central Bank of Paraguay
Latam central bank has unleashed payments to expand Paraguay’s inclusion umbrella
Green award: Reserve Bank of New Zealand
World’s first independent central bank pioneers climate stress test for lenders
Financial market infrastructure services: Nasdaq
Nasdaq has added a monetary operations portal to its cloud-based reserves services as part of its growing integrated suite
Editor's choice
Fintech Benchmarks 2025 – model banks analysis
Data breakdown reveals differences in CBDC research, AI use and adoption of the cloud
Do central bank governors make good prime ministers?
Mark Carney is the latest to make the leap, but the record elsewhere has been mixed
Stop calling them ‘CBDCs’, ECB paper argues
Study says the term, and much other crypto terminology, is misleading and should be binned
Trump, the Fed and climate’s undeniable systemic risk
Experts disagree on the impact of the Fed’s withdrawal from the NGFS but are united about climate change’s devastating effect on the financial system
Benchmarking
Governors serve unlimited terms in half of central banks
While term length averages five years, majority of governors can be dismissed early
Inter-bank working groups
Facilitating connections between central bankers across the globe to promote the exchange of expertise and support collaboration.
Upcoming meetings include: Cyber risk management, social media in communications and upgrading forecast models.
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
Central Banking Spring Meetings 2025
Working group minutes: facing up to CBDC adoption challenges
Participants at Cape Town meeting saw drawbacks to digital currency versus other payment methods
Trump 2.0 piles pressure on reserve managers
Speakers at Central Banking Spring Meetings discuss positioning, interventions and impact of lost aid
Technology needs to keep up with crypto regulation – panel
Panellists discuss AML/CFT risks arising from virtual assets during Central Banking Spring Meetings
Conservatism in central banking ‘may not exist in 10 years’
Reserve managers at Spring Meetings 2025 share frustrations and discuss new strategies
Book reviews
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Book notes: A fly on the RBI wall: an insider’s view of the central bank, by Alpana Killawala
Book notes: The bankers’ new clothes, second edition, by Anat Admati and Martin Hellwig
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