Central Banks
Vietnamese central bank gets first female governor
Deputy governor Nguyen Thi Hong to become the first governor of State Bank of Vietnam
RBNZ launches funding for lending programme
Central bank avoids taking rates negative but says the policy remains an option
Lagarde signals Covid-19 stimulus will remain active for longer
Asset purchases and bank lending programmes will be key ECB tools; rate cut not mentioned
BoE paper offers solution to ‘paradox of flexibility’
Using shadow rate can avoid anomalous results at zero lower bound, authors say
IMF postpones 2021 annual meeting in Morocco
Meeting will go ahead in Washington, DC, instead, with new Marrakesh date scheduled for 2022
Weak banks could reverse effects of policy rate cuts – ECB paper
Countercyclical buffers play crucial role in preventing “reversal interest rate” events, researchers find
EBA wants Basel to revisit prudential rules on software
Banking regulator set to soften capital impact of IT assets, but proposals are still out of line with US
Baltic central banks aim for joint commercial paper market
Estonian, Latvian and Lithuanian central banks to work with EBRD on creating short-term debt market
Fed examines climate risks in stability report for first time
It is “vitally important” that climate risks are “assessed and addressed”, says Lael Brainard
IMF approves $370 million credit facility for Afghanistan
New programme aims to support country’s recovery from Covid-19
BIS paper pins down causal impact of capital flows
Study based on confidential BIS data finds capital controls can help prevent overheating
China mandates deposit insurance labels
PBoC goes further in implementing deposit insurance policies to mitigate risk
Cash usage in Norway falls to 4%
Deputy governor says CBDC research is ongoing but any future system would be controlled by the central bank
Gold reserves in central banks – 2020 survey results
Reserve managers share their views on future gold holdings, target allocations, purchasing and storage approaches, the use of ETFs, and the impact of Covid-19, in the results of a new joint Central Banking-Invesco survey. By Nick Carver and Robert Pringle
All that glitters – Surveying central banks on gold reserves
Key survey data and comments reinforce the main findings in Invesco’s central bank reserve management white paper on the revival of gold as a reserve asset.
Turkish finance minister quits after president fires governor
Finance minister resigns before new governor signals he will consider raising policy rates
Riksbank publishes list of companies eligible for bond purchases
List includes 50 companies and will be updated on the first weekday of the month
RBI adapting to ‘increasingly complex web’ of non-banks
Deputy governor highlights “significant change” to RBI’s regulatory approach
BoE will not use climate stress tests to set capital buffers – Bailey
Andrew Bailey reveals new details of tests, with launch set for summer of 2021