Central Banks
Swedish governor calls for laws to protect cash use
Ingves says Sweden must upgrade payments systems and move ahead with e-krona
SF Fed’s Daly calls for major action on US inequality
Fed can use new policy framework to cut inequality but Federal government must do more, says Daly
‘Wear and tear’ the main reason for banknote exchange
Covid-19 raised fears of banknote contamination, but historical exchange is mostly due to worn notes
G20 delays decision on poor countries’ debt relief
International efforts have been “unambitious, unco-ordinated and uneven” – prominent economists
Bankruptcies could trigger ‘protracted’ unemployment – BIS research
Reallocating resources quickly will help reduce the pain of adjustment, economists say
Spanish governor in favour of extending support to non-financial firms
Hernández de Cos favours grants and equity injections over debt issuance
Covid-19 may survive 28 days on banknotes and payment cards
New research suggests virus can survive for an extended period of time at room temperature
Counterfeits rise with issuance on multiple substrates
Average percentage of counterfeits per total volume in circulation is around 0.01%
People: RBI names new deputy governor
Central banker promoted at RBI; ECB picks new comms chief; BoE FPC member reappointed
Central bank refinancing greatly lowers banking risk – ECB paper
Paper uses data on post-crisis eurozone to calculate effects of refinancing rate on risks facing banks
Banking sector resilience ‘likely to be tested’ – IMF’s Adrian
Fund’s stability report says vulnerabilities are high and rising, creating difficult policy choices
IMF warns of permanent economic damage from Covid-19
Pandemic could pitch 90 million people back into extreme poverty, fund says in new economic outlook
Reforms cut risk-taking by G-Sibs – ECB paper
Researchers say reforms may have at least partly resolved “too big to fail” problem for largest banks
Samuel Brittan (1933–2020): A master of his trade
Robert Pringle looks back at the life of Samuel Brittan, the economic journalist and adviser to Central Banking
ECB’s Panetta stresses digital euro should preserve privacy
Central bank launches public consultation on digital euro
FSB unveils ‘comprehensive plan’ to reform global payments
“Roadmap” for cross-border payments to be considered by G20 leaders this week
Libyan governor warns of economic collapse
Oil blockade is “bullet in the head” to civil-war torn country’s economy, Sadiq al-Kabir says
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas
Turkish central bank tries to tighten policy without hiking rates
Currency continues to slide as data shows central bank’s FX reserves fell by one-sixth in 12 months