Central Banks
West African leaders name new central bank governor
Previous governor departed in April, leaving interim leadership unclear
Swiss central bank defends board structure
Think-tank suggested governing board was “susceptible to group think” in April report
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
Tougher macro-pru helps response to major storms – BdF paper
Better regulation greatly reduces costs of financing after some natural disasters, researchers find
Israeli sovereign wealth fund launches after years of delay
Government finally accrued required tax revenues from gas and mining sectors
BoE paper examines microstructure of UK banking system
Authors stitch together supervisory datasets to study likelihood of crisis
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war
Central banks use many third parties for payments projects
Respondents mention various providers, with Montran the most frequently cited
Book notes: A full-value ruble, by Kristy Ironside
Soviet experience shows MMT worked, only with far more challenges and downsides than promoters envisioned
Global climate standards ‘badly needed’ but elusive, say central bankers
“I am not sure we are going to get there,” ECB president says
Rates round-up: Canada adds 50bp to main rate
Kenya orders first rate increase since 2015; Dominican Republic hikes 100bp; and more
Shadow banks need macro-pru regimes – Bundesbank paper
Limits on shadow banks’ leverage could have helped avert global financial crisis, researcher finds
Basel Committee finalises climate principles
Committee also pushes forward with crypto asset regulations
Biden holds rare meeting with Fed chair Powell
Yellen admits she was wrong about the path of inflation in 2021
Three-quarters of central banks exploring CBDCs for retail payments
Though research is common, only a few have moved to pilot or roll out the technology
Fed’s Waller believes US economy can handle several more rate hikes
Governor acknowledges uncertainties remain high amid Russian invasion of Ukraine
BoE set to gain stablecoin insolvency powers
Government proposal would amend existing rules for dealing with failed payment systems
NGFS moving from climate ‘awareness to action’ – MAS’s Menon
Net-zero transition has been “tepid” despite the limited time remaining, MAS chief says
IMF urges Kosovo to fill vital central bank positions
Supervisory board lacked quorum for approximately 18 months
Honduran banknote to honour murdered activist
Berta Cáceres, who was killed in 2016, has been declared a “national hero”