Central Banks
Fed’s Quarles backs light-touch regulation on machine learning
SEC’s “circuit-breaker” can act as model for regulating innovative tools – Fed vice-chair
‘Black box’ models present challenges – US regulators
US officials say they have some powers to assess AI tools, but resourcing is problematic
Irish central bank may force banks to act on gender diversity
Deputy governor Donnery says central bank may act if voluntary agreements do not work
Argentina’s central bank makes further emergency rate hike as currency falls
Bank makes second emergency rate hike in less than 24 hours
IMF says Ghana should change law to prevent monetary financing
Directors commend recent progress in reducing inflation but call for stronger safeguards
Book notes: I do what I do, by Raghuram Rajan
This collection of speeches and commentary sheds light on how the ‘rockstar’ central banker operated, but it reveals little in the more controversial areas of Rajan’s governorship
Poloz weighs dangers of Canada’s C$2 trillion debt pile
Some households are vulnerable, Bank of Canada governor says
SNB governor condemns 'sovereign money initiative'
Thomas Jordan calls on voters to reject proposal for new credit system
Government spending can have low multipliers at ZLB – Bank of Italy paper
Model’s results are in line with recent empirical evidence, researchers say
Global gold demand weakens despite central bank surge
WGC figures show Q1 demand was its lowest for 10 years, though central banks bought more
People: Carney gets new senior adviser
Bank of England creates new senior adviser role; IMF appoints chief information officer; and more
FOMC signals patience as rates stay on hold
Minutes emphasise “symmetric” target, noting inflation expectations are still “low”
Official reserve management in the 21st century
A lack of operational clarity and reluctance to view reserve portfolios holistically have prevented optimal, rules-based approaches to reserve management becoming commonplace. BlackRock‘s Terrence Keeley, Stuart Jarvis and Michael Palframan explain how…
Bank of Canada paper offers advice on digital currency policy
Framework designed to help policymakers weigh up various forms of digital money
Islamic finance can tackle global instability – Kuwait’s Al-Hashel
Amid “excessive” risk-taking, Mohammad Al-Hashel suggests Islamic finance could help restore stability
ECB’s sovereign bond purchases may increase volatility, DNB paper says
Researchers say their findings could have important lessons for “tapering” programmes
UK takes next steps in payments shake-up
Two of the three retail payment systems have been taken over by the New Payment System Operator, with the third to be integrated soon; first non-bank PSP connects to BoE’s RTGS