Central Banks
Consultancy and advisory services provider of the year (bespoke): Innovia Security
Polymer bank note provider also offers a suite of advisory services from design through to recycling to prepare central banks for the transition to ‘plastic’ bank notes, as highlighted in Nicaragua
Transparency: Bank of Canada
Communications embedded in the policy process, fresh thinking on shared content and an expanded senior team show the central bank’s commitment to staying at the leading edge of transparency
Banknote and currency services provider of the year: Crane Currency
Leading micro-optics provider continues to deliver a full range of services from design to print to a large number of central banks around the world to ensure integrity of cash
Spanish ex-governor to appear in court over ‘Bankia affair’
Three Bank of Spain employees resign over investigation of commercial bank collapse
RBNZ presses ahead with dashboard plan, despite bank concerns
Banks raise fears over the dashboard plan to publish disclosures on RBNZ website, but the central bank says it believes it can address all the concerns
IMF authors build network model of trade fragility
Network theory helps authors unpick the effects of a supply shock on the “highly interconnected” global trade system
Asia needs new growth model – BoJ’s Kuroda
Region can no longer serve as “the workshop of the world” as the trade in goods slows down, says the Bank of Japan governor
Barbados’s Worrell told to resign or be fired
Governor’s “dictatorial” management style is impacting morale, says board member; court blocks dismissal until February 22
Macro-prudential policy must move beyond core banking – BoE’s Brazier
Stressed firms may outwardly be resilient but collectively be “overwhelmed”, says BoE director, calling for collective work to understand “feedback loops”
Eurozone needs ‘hard laws’ for credible resolution, economist argues
“Soft law” arrangements can break down in crises, Schoenmaker says
Initiative of the year: Saudi Arabian Monetary Authority’s compliance standards activation project
Sama has made a strong start in its efforts to develop an enterprise-wide risk management culture
Reserve manager of the year: Bank of Israel
Israel’s central bank has made breakthroughs in its sensitivity analysis of near-optimal portfolios, as well as making notable gains from its diversification strategy
Asset manager of the year: State Street Global Advisors
Boston-based asset manager not only has depth and reach – it has taken customisable services to a new level
Global securities lending services provider of the year: BNP Paribas Securities Services
The French bank has helped a range of official institutions to glean additional revenue from their bond holdings in tight markets
Fed’s Fischer: econometric models are still flawed
US Fed vice-chair says models still cannot capture the complexities and rapid evolution of the economy – despite his hopes as an undergraduate
Market ‘tightness’ affects QE success – Riksbank paper
Model accounting for the demand and supply of bonds allows authors to reveal new insights into the price and liquidity impact of asset purchases
Tarullo resigns from Fed board
Early departure may give Trump a chance to reshape US regulation
BoE should embrace the ‘spirit’ of the millennial – Carney
The millennial way of thinking is “better suited” to the current challenging environment – Carney; governor believes the younger generation might have something to offer when it comes to problem-solving
Ruling party think-tank leader endorsed as Tetangco’s replacement
Senate president endorses private sector banker with ties to ruling party; time “for bold and innovative” leadership at central bank, he says
Nigeria’s central bank is in the eye of the storm
The Central Bank of Nigeria’s flawed foreign exchange policies worsened a recession in 2016. It now needs to rebuild its credibility, argues former CBN deputy governor Kingsley Moghalu
Central bank governor of the year: Carlos Fernández Valdovinos
The governor of the Central Bank of Paraguay has had considerable success hitting Paraguay’s tightening inflation target while boosting the nation’s economic credentials
Economics in central banking: Leo Krippner
His work on term structure modelling has helped central bank policy-makers to track the effects of unconventional policies and it raises many interesting possibilities for future research
Technology provider of the year (risk management): Calypso Technology
Calypso scored several prestigious client wins in Denmark, France, South Africa and Spain by tailoring its platform to the needs of central banks
Technology provider of the year (supervision): Vizor Software
Vizor Software has transitioned from a niche consultancy to a technology provider of choice for central banks in 30 countries, including Canada, the UK and Saudi Arabia