Central Banks
Podcast: Payment networks of the future
Liz Oakes (Mastercard) and Somya Patnaik (ACI Worldwide) discuss how central banks can ensure consumers get the most out of new payment infrastructure
Weidmann to step down as Bundesbank president
After over 10 years leading the German central bank, Weidmann will leave for “personal reasons”
Kenya’s banks told to prepare climate risk plans by 2022
Central bank publishes guidance urging banks to integrate climate risk into broader risk management
Iranian court sentences former governor to 10 years in prison
Valiollah Seif convicted of currency offences, but reportedly remains free pending appeal
Gita Gopinath to leave IMF
Fund’s first female chief economist is set to return to Harvard
Forecaster surveys improve eurozone inflation modelling – ECB paper
Households’ and firms’ expectations do not provide useful data on inflation
Delta variant had smaller impact on US consumer spending
Cleveland Fed finds weaker or no link between hospitalisation and spending in 2021
Securities lending prevalent in European central banks
Monetary policy, market maturity and currency variation may limit adoption in other regions
ECB paper examines ‘euroised’ economies
European countries’ informal adoption of euro places limits on central banks, says working paper
BoE launches ‘exploratory’ CCP stress test
Central bank will test credit and liquidity exposures, and will also conduct “reverse stress tests”
National income not only determinant of reserve management staff numbers
Salaries ranged between $11,968–$138,768 among benchmark participants
PBoC suffers headaches from growth, energy and Evergrande
Yi Gang mulls property sector risks, as China’s growth hits one-year low
Fed’s Bullard believes a ‘five-year window’ for AIT is ‘realistic’
St Louis Fed president says “big tent language” was a reason overshoot details were not specified; “precise numerical implementations” can “get you into trouble”
Hiking rates before asset sales may constrict credit – paper
Kansas City Fed research says raising the fed funds rate first may cause yield curve inversion
Payments Benchmarks 2021 – presentation
Central Banking’s payments subject matter specialist Rachael King speaks with Christopher Jeffery about payments, staffing and salaries, mandates, oversight, and RTGS renewal
Most central banks invest in derivatives
External managers facilitate wider use of these instruments
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
People: FCA chair steps down; Esma chair steps up
UK FCA chairman to depart; Verena Ross to chair Esma; new boards for Ecuador’s central bank
Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
IMFC backs new trust to channel resources to vulnerable economies
Resilience and Sustainability Trust would offer support to a wider set of countries and could be used to share out special drawing rights
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight