Central Banks
BoE’s Bailey explores future of balance sheet policy
Question of whether QE is “state contingent” could impact how it is deployed through the cycle
Bank of Japan launches policy review as deflation worsens
BoJ considers further monetary easing and extends special loan programmes
Paper tracks changing rhetoric of Bank of Italy governors
Governors have changed the focus of their concluding remarks over time, as well as the length of their speeches
Denmark’s central bank says household wealth is higher than pre-Covid
Citizens are wealthier despite Covid-19, but wealth distribution remains uneven
Guy Debelle on the future of the FX Global Code
Code’s creators considering updates to sections on last look and pre-hedging
FCA undergoes reshuffle of senior managers
Regulator establishes new consumers and competition directorate
NBER paper seeks lessons for home working in Industrial Revolution
Move to remote working could be undermined by organisational problems, authors warn
Central Bank of Iraq devalues currency by 23%
Oil-dependent economy has been hit hard by coronavirus shock
Vaccine would speed up recovery, Bank of Uganda reports
Higher levels of NPLs and high lending rates are hampering growth, report says, but vaccine could result in swift recovery
UK’s FCA introduces climate disclosure rule
Nearly 500 firms will have to meet ‘comply or explain’ rule on TCFD recommendations
Former finance minister criticises PBoC’s prudential supervision
Lou attacks central bank over macro-prudential supervision and warns of China’s high debt levels
People: T&T governor has term extended
Hilaire will stay at T&T central bank until 2023; Sri Lanka promotes two assistant governors to deputy posts; Australia appoints new assistant governor; CNB official joins Esma board
What does 2021 hold for the ECB?
Former officials reflect on AIT, how the strategy review may affect normalisation, QE options and the need for new tools
Covid-19 likely harms productivity – BoE paper
Private sector could lose 5% of its productivity in Q4 this year, authors estimate
Fed keeps some limits on bank dividends
All banks keep above minimum capital ratios under second round of stress-testing
Netherlands Bank backs IFRS plans for global sustainability standards
Governor Knot stresses global standard will be of less use if development continues to lag
US Congress strikes stimulus deal with weaker curbs on Fed powers
Previous wording would have prevented Fed from ever recreating the ‘Main Street’ programme
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
Former RBI official Rabi Mishra on macro-pru in the post-Covid world
The former executive director discusses challenges for supervision, global governance reform and the rise of fintech
Is the integrity of Afghanistan’s central bank under threat?
Acting governor fires key staff and is accused of undoing reforms, while World Bank appears ready to suspend funds; administration and other donors show few signs of learning from Kabul Bank scandal
EBA sets out methods for AML risk assessments
Reports can be triggered by concerns over authorities’ anti-money laundering frameworks
SNB still ready to depreciate franc despite US condemnation
Swiss central bank stands firm after US Treasury labelled Switzerland a currency manipulator
Paper lays groundwork for Canadian ‘Hank’ model
Author estimates “earnings process” as step towards heterogeneous agent modelling
Republican lawmakers seek curbs on Fed’s emergency facilities
Treasury backs lawmakers in bid to insert wording to bar Fed from restarting Covid loan programmes