Central Banks
Danish central bank moves closer to Target settlement systems
National Bank of Denmark applies to use T2 RTGS system and may start using Tips
BIS warns of gap between cautious banks and buoyant markets
Report says exuberant market conditions may belie underlying risks
BoE considering legal action over hoax press release
Group calling themselves the ‘Yes Men’ claimed credit for the fake
FCA details Mifid onshoring process post-Brexit
UK regulator has built equivalent systems to ensure firms can continue with Mifid reporting
Climate change on the agenda for most economics departments
Central banks explore a wide range of topics, with some differences between advanced economies and EMEs
The dawn of average inflation targeting
The Fed has failed to explain how it will calculate the ‘average’ for its new AIT framework, raising new risks that central bankers would do well to reflect on
Project Helvetia proves central banks can use tokenised assets – BIS
Benoît Cœuré says project marks “the beginning of the further evolution of central banking”
BoE’s Saunders mulls dual interest rates for UK
Funding banks at less than the policy rate could be a useful tool, MPC member says
Riksbank stresses pandemic’s unpredictability
Two board members thought it unnecessary to increase asset purchases, minutes show
BoE needs ‘better handle’ on control of UK currency
Lawmakers highlight the UK’s disjointed cash management, which could put consumers at risk, they say
Few central banks collaborate with private-sector researchers
Collaborations are common with academia, especially in advanced economies
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
Bank of Spain paper looks at loan origination times
Loan origination data provides important insights into banking stability, researchers argue
Norges Bank deputy governor resigns over security clearance
Deputy governor in charge of world’s largest SWF denied clearance because of wife’s residence in China
Colombia draws on IMF’s FCL funds for first time
Government resorted to $5.4 billion drawing to help meet higher pandemic financing needs
RBI on hold as inflation outlook turns ‘adverse’
Central bank in a bind as supply problems drive up prices but growth still needs “nurturing”
Lane’s calls to investors stir controversy ahead of key ECB meeting
Chief economist’s private discussions with investors after policy meetings come under scrutiny
Christopher Waller narrowly passes Senate vote
St Louis Fed economist approved for Fed governor role, despite opposition from Democrats
Agent-based models remain rare among economics departments
Economics Benchmarks 2020 highlights the varied applications of different model types at central banks
Tangen to permanently divest from AKO fund in January 2021
Norges Bank unveils final contract with SWF’s new chief executive
BIS paper explores reasons for large gold reserves
Researcher says large holdings can be justified, but only for some purposes
Brazil central bank could ‘test’ lower rates if inflation remains weak – IMF
IMF staff see “no constraint” to lower rates as long as forward guidance is deployed
BoE prepares to launch sharia-compliant liquidity facility
Special-purpose vehicle will be structured as a ‘wakalah’ or fund-based liquidity facility