Central Banks
Tokenised MMF market ‘small’ but could create contagion – BdF
French central bank calls for international co-operation to regulate new assets
Systemic banks prioritised in onsite inspections
Supervisors’ activities commonly include interviews, reviews and verifications
Book notes: The young Fed, by Mark Carlson
A thoughtful book on an important topic and a less widely studied period of US financial history from which every central bank economist could learn
SBP’s RTGS/CSD system has AI and sharia-compliant focus
Pakistani central bank’s tech provider explains functionality behind Prism+
NBFIs can boost EU’s capital markets, expert says
Sintra panellist says savings and investment union crucial to tapping non-banks’ resources
More adjustment needed to JGB purchases – BoJ board member
Takata says current plan will increase supply to early 2000s levels, with potentially destabilising effects
Closer eurozone integration vital in today’s world – ECB paper
Competition from China and US tariffs cited among reasons for closer co-operation between members
Onsite inspection frequency tailored to individual firms’ risk profiles
All authorities in high and middle income countries engage in risk-based exercises
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
No changes to Fed swap lines, Lagarde worried about ‘truth’ – panel
Fed, ECB, BoE, BoJ and BoK governors discuss tariffs, stablecoins, r*, scenario analyses and the future
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency
Economists denounce Trump’s ‘bullying’ of Fed chair
Experts also back Powell’s assessment rates would probably be lower were it not for tariffs
Central bank gold purchases rise in May
WGC says net purchases hit 20 tonnes as appetite among monetary authorities remains strong
Hong Kong intervenes once again to protect currency peg
Intervention is HKMA’s second at weak end of HKD/USD band in less than a week, with more likely
Climate change among issues that became ‘taboo’ during QE – study
Central banks also exercised “strategic silence” on house prices to avoid becoming politicised
Pillar 2 supervisory requirements broadly decided at national level
Only 15% of authorities operate regional supervision offices
ECB announces dual-track DLT strategy
Short-term programme connecting platforms and Target services to launch in 2026
Ethiopia holds policy rate as inflation persists
Central bank vows to maintain tight stance until figure returns to single digits
Basel III not holding back development finance – Thedéen
Regulations should not be viewed as “scapegoat” for lack of investment, says committee chair
IMF disburses additional $500m to Ukraine
Central bank governor welcomes “positive news from Washington” as country passes latest EFF review
People: RBNZ announces board appointments
Grant Spencer joins while Goldman alum Byron Pepper is reappointed
The future of money
Central banks may require more flexible inflation targets and facilitate wider payments interoperability to maintain trust and the ‘singleness’ of money. By Sethaput Suthiwartnarueput
Supervisors rate resource sufficiency higher than staffing
Annual salary of supervision officials averages just over $40,000
ECB unveils latest strategy fit ‘for all circumstances’
Chief economist says unconventional tools are “unconventional for a reason”