Central Banks
Finalising Basel III is crucial for the EU banking sector
EU banks stand to be more heavily impacted by Basel III finalisation, but that is not a good reason to hesitate, says Pedro Duarte Neves
People: New York Fed appoints new head of supervision
Diane Dobbeck to lead supervision group; Atlanta Fed hires chief strategy officer; Biden appoints assistant treasury secretary
BIS paper warns against ‘timid’ QE and ‘debt-averse’ fiscal policy
Policy mistakes at zero lower bound can worsen economic problems, authors say
Powerful companies are diluting monetary policy effectiveness – IMF
Competition policies are needed to ensure central banks can use monetary policy effectively
FCA asked to investigate ‘unwarranted’ bank account freezing
Parliamentary committee concerned AI may have caused ‘inappropriate bias’
New BoE climate risk scenarios spark race for extra data
Banks need information from clients or third parties to populate 1,760 stress test variables
BoE paper builds GDP-at-risk model
Authors generate “fat-tailed” distribution to explore economy’s tendency to hit lower bound on rates
ECB reinforces commitment to monetary stimulus
Central bank expects inflation to reach 2% “durably”, midway through its projection horizon
Minority groups sidelined by BoE, report finds
Internal review reveals minority ethnic staff felt less safe in the workplace, while career progression was stifled
Eurozone fiscal deficit declines in Q1
Lower imbalance due to lower spending; revenue remained stable as a share of GDP
People: Bank of Canada appoints deputy governor
Sharon Kozicki promoted to deputy role; new BEAC director in Chad; Lithuania appoints board member; and more
France and Tunisia carry out cross-border CBDC transfer
Latest BdF experiment sees central banks make wire transfer using wholesale CBDC
Technology is the best bet in fighting money laundering
Danish FSA chief Jesper Berg says there is a need to think ‘outside the box’ on AML, rather than blame flawed regulatory and institutional design in dealing with corrupt money flows
ECB set to adapt forward guidance in July meeting
Analysts expect ECB to adjust policy to meet goals of recent strategy review
Philippines governor issues caution over proposed fiscal package
Faster vaccinations, structural reform and infrastructure are key to recovery, Diokno says
Vietnam central bank and US Treasury sign currency pact
US had briefly labelled Vietnam a “currency manipulator”
Malawi launches corporate social investment policy
Policy will see central bank embark on projects supporting society
Incoming BoE policy-maker says inflation ‘momentum’ is easing
Catherine Mann says price rises appear to be starting to taper off
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
DNB unveils sustainability policy
Dutch central bank sets out four-year green plan – investments must be “Paris-aligned”
Belarus raises interest rates 75 basis points
National Bank orders second hike of the year to combat inflation
IMF mulls SDR reallocation ‘trust’
Fund is considering ways SDR allocation can be channelled to vulnerable countries
Solomon Islands relaxes capital controls
Central bank raises limits on currency exports