Articles by Central Banking staff
Banknotes: January to March 2025
A round-up of news and salient issues that have affected central bankers in the past three months
One in five central banks pays unrealised gains to government
Most central banks have a formal agreement in place for sharing profits with government
ECB monetary policy spills over to US – Chicago Fed study
Resulting appreciation of dollar causes US leveraged loan investors to demand more compensation
Two-thirds of central banks regularly audit policy processes
Internal and external audit functions are combined in most jurisdictions
Larger central banks more likely to have diversity policy
Boards with appointment powers more often focus on diversity
Default levels do not explain high US credit card rates – study
NY Fed paper shows levels of interest charged far exceed those for other loans
Most governing boards operate under charters
Strategy-setting and budget approval are boards’ top responsibilities
People: January to March 2025
A round-up of central bankers in the news and on the move during the past three months
One in three central banks operate supervision committee
Government officials’ membership on boards still rare
Governors serving limitless terms tend to earn lower salaries
But governors’ average salary remains over $200,000 a year
Most governors lack legal immunity against prosecution
One-fifth of removable central bank governors shielded from legal actions