Central Banking Journal - Volume XXVIII Number 3
Articles in this issue
A changing of the guard
Risks emerge amid Fed and PBoC leadership changes
Saudi Arabia’s Alkholifey on economic restructuring, reserves and cyber security
Head of Sama discusses major changes being implemented in Saudi Arabia
Home truths on Europe’s NPLs
Europe needs to impose more intrusive supervision and greater provisioning on its banks
Patrick Njoroge on reshaping banking and finance to work for the masses
Central Bank of Kenya governor speaks about exchange rate intervention, banking reform and financial inclusion
A dangerous unknown: interest rate risk in the financial system
Urgent action needed to tackle danger; current macro-pru tools still inadequate
The winners of the 2018 Central Banking Awards
Bank of Canada, Lesetja Kganyago and Perng Fai-nan among those that stood out
Central bank of the year: Bank of Canada
Canadian central bank has stood out for ever-improving levels of transparency and forward-looking management
Governor of the year: Lesetja Kganyago
Kganyago has defended and enhanced Sarb’s reputation as independent and well-governed institution against all threats
Lifetime achievement award: Perng Fai-nan
Pre-emptive financial reforms combined with flexible monetary and forex policies ensured Taiwanese stability
Initiative of the year: Bank of England’s FinTech Accelerator
UK central bank has embraced fintech service providers to bolster cyber-security and payments capabilities
Transparency: Central Bank of Ireland
Irish central bank has made great progress in communicating
Reserve manager of the year: Bank of Korea
South Korean central bank has revamped its reserve operations
Banknote and currency manager of the year: Norges Bank
Nordic central bank has redefined how its banknotes are designed
Economics in central banking: Alberto Cavallo and Roberto Rigobon – Billion Prices Project/PriceStats
Through vast and ongoing data-collecting exercise, PriceStats has helped central banks overcome many drawbacks in traditional inflation series
Website of the year: Bank of Lithuania
For making most relevant information as accessible as possible for all its audience
Asset manager of the year: BlackRock
BlackRock delivered innovative new products and highly regarded training scheme
Innovation in reserve management: HSBC
Bank stepped in to arrange private funding package during Egyptian economic crisis
Global custodian of the year: BNY Mellon
Clients point to improved tech functionality and training services
Securities lending services provider of the year: Northern Trust
Official institutions cite firm’s operational smoothness and good returns
Banknote and currency services provider of the year: Landqart
Hybrid substrate provider offers banknote issuers a ‘Swiss finish’
Technology consultant of the year: Vizor Software
Dublin-based company proved its mettle in emerging markets
Risk management services provider of the year: Openlink
Openlink’s central bank and state agency client base continues to grow
Consultancy and advisory provider of the year (data and regulatory management): BearingPoint
BearingPoint’s expertise in data and reporting has informed number of high-level bodies
Consultancy and advisory provider of the year (currency management): De La Rue
UK-based company is helping central banks monitor lifespan of banknotes
Payments and market infrastructure provider of the year: Perago
Italian software company is helping central banks implement reliable and highly adaptable systems
Implementing a holistic and dynamic risk budget
New policy-risk approach led to reassessment of investment exposures and how they are rebalanced
Canada’s polymer versus paper substrate cycle
Empirical evidence indicates switch to polymer has improved lifespan
Book notes: The End of Theory, by Richard Bookstaber
Bookstaber provides an entertaining introduction to agent-based modelling
Book notes: Money in the Great Recession, by Tim Congdon
A stimulating collection of papers on the monetarist theory that had central bankers in late 2008 focused on boosting the quantity of broad money “the Great Recession would not have happened”
Book notes: The Right Balance for Banks, by William Cline
Interesting analysis of optimal capital requirements for G-Sibs, examining whether Basel III requirements can stem another financial crisis
Book notes: Hole in the Wall, by James Shepherd-Barron
Cash machines have changed how cash is managed, but is there any future for such machines in cashless world?