Feature
The ‘golden age’ of central banking has passed
Central banks are up against multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
South African Reserve Bank: the first 100 years
Central bankers and academics reflect on a tumultuous first century for Africa’s oldest central bank
The IFF China Report 2021
Insight and perspectives from the world's leaders, premier policy-makers and financiers
CBDC: the case for ‘wait and see’
Despite growing interest, some central banks are staying out of the digital currency game
Central Banking FinTech & RegTech Global Awards 2021
In March 2021, Central Banking launched its fourth annual FinTech & RegTech Global Awards to showcase some of the groundbreaking projects undertaken in the community. The results are revealed in the awards articles published in this special winners’…
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
Should the Fed’s Fima facility be made permanent?
Emergency repo facility reassures reserve managers about access to cash during breakdown in US Treasuries market
Cash infrastructure as public good – implications for the cash cycle
Eurosystem is seeking to safeguard cash infrastructure even as transaction volumes plunge
The evolving ‘strategy function’ in central banks
Study shows central banks still struggle to fully utilise strategy units
Is the ECB implementing yield curve control?
Eurozone has adopted hybrid system that targets wider financing conditions
Regulating big tech and non-bank financial services in the digital era
Experiences from China highlight potential benefits of digital-bank and holding-company approaches
A rebuttal of Philip Turner’s criticism of the BIS ‘house view’
Critiquing Philip Turner’s occasional paper, ‘The new monetary policy revolution: advice and dissent’
Specialised lending initiative: Clearstream
Clearstream is supporting eurozone central banks with their asset purchase programmes
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions forestalled a damaging global financial crisis
Risk manager: National Bank of Georgia
Liquidity stress tests provided confidence to ease daily thresholds, and offer exchange rate, internal market and financial system support, without forcing the liquidation of illiquid reserves
Treasury systems initiative: Refinitiv
Firm’s data-driven approach is helping central banks stay ahead of fast-moving markets
Initiative of the year: Saudi Central Bank’s business continuity programme
Advanced planning allowed Sama employees and systems to continue operating critical functions despite Covid-19 lockdowns
Risk management technology: Ion Treasury
Firm has championed Libor transition services and assisted the management of reserve positions amid Covid 19
Economics in central banking: ‘Patterns in invoicing currency in global trade’, Emine Boz, Camila Casas, Georgios Georgiadis, Gita Gopinath, Helena Le Mezo, Arnaud Mehl and Tra Nguyen
An extensive data-gathering exercise allowed the authors to shed new light on critical aspects of policy-making in a globalised world
Currency services: Crane Currency
Firm supported clients’ needs throughout pandemic, while continuing to innovate with launch of micro-optic security features
Financial market infrastructure services: Bloomberg
Bloomberg’s responsive deployment of new liquidity capabilities helped emerging-market central banks cope with pandemic market disruption
Payments and market infrastructure development – wholesale: Reserve Bank of New Zealand
NZ central bank has embraced major payments infrastructure changes to reduce risk and future-proof country’s payments landscape
Payment services: ACI Worldwide
ACI has emerged as an important provider of real-time digital payments software