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BoE launches system-wide test on private markets
Second ever exploratory scenario to include major asset managers; results expected in early 2027
US banks hoping for end of DFAST global market shock
As Fed consults on stress-test reform, lobby group argues regulator is double-counting market risk
Nigeria to discourage cash withdrawals and make deposits easier
Central bank says reform package aims to reduce cash usage and tackle money laundering
NBFIs could dent transmission – Bundesbank board member
Growing non-bank activity could diminish banking channel’s importance, says Köhler-Geib
People: Former DNB chief Knot joins Systemic Risk Council
Plus appointments at BIS Innovation Hub and Turkish central bank
Central banks’ social media share ticks up
Social-traditional media split for communications roughly the same across different regions
Taiwan’s Yang says central bank money remains global ‘anchor’
Governor says it is still ‘ultimate settlement asset’, notwithstanding development of tokenisation
ECB reminds Italian lawmaker: monetary financing by gold is illegal
European Central Bank says budget amendment’s purpose is “not clear”
Minimum haircuts must be carefully designed – BIS bulletin
Funding- and collateral-driven trades incentivise different repo terms, authors point out
Insurers make disasters worse for eurozone governments – ECB study
Resulting sell-offs of short-term debt push up sovereign borrowing costs, research finds
Bowman and Hill say stablecoin rules are on their way
FDIC acting chair says regulation to establish application framework should come this month
Ecuadorian central bank’s general manager resigns
Avellán leaves post year and a half ahead of schedule to ‘take on new professional challenges’
Local languages widely used in central bank communications
African central banks use more English in communications than counterparts in other regions
RBNZ’s Breman to discuss greater transparency with MPC
New governor says she will raise issue of attributing votes on rate decisions to individual policy-makers
Benchmarking AI in central banks – a question of creative destruction
Central banks are taking cautious steps towards adopting AI but have not prioritised research into its effects
MNB puts sectoral buffers in place as real estate pressure mounts
Subsidised loans have increased demand for property significantly, central bank finds
BoE lowers capital requirements for banks
Governor says move reflects sector’s evolution as institution publishes latest fin stab report
Fiji launches first all-polymer banknote series
Crane Currency supplies five denominations that will enter circulation in January
Journalists and politicians are main critics of central banks
Benchmark respondents comment on their efforts to engage constructively with stakeholders
Permissionless payments may be the future – NY Fed study
Stablecoins’ accessibility makes them different from other fast payment options, say authors
Communications Benchmarks 2025 Charts
Take a deep dive into the Communications Benchmarks charts, which have just been released for 2025.
Alexandre Tombini on LatAm resilience and growth amid uncertainty
The BIS Americas head speaks about the impact of the US tariffs, building resilience and fostering inclusion via digital payments
Synchronisation can support tokenised securities settlement – BoE
But central bank says it is unclear whether it outperforms unified ledger
PBoC emphasises stablecoins are illegal in China
Bank reiterates virtual currency ban and says pegged assets fail to meet identity and AML requirements
Rise of NBFIs suggests gradualism is best policy – BIS bulletin
Institutions’ uncertain effects on transmission warrant flexibility from central banks, says study
Kazakhstan establishes crypto portfolio in reserves
Central bank says it could spend “up to” $300m from gold and FX income
BoJ to tighten policy if economic projections hold, says Ueda
Governor says economy increasingly likely to realise bank’s baseline projections
Gold and bitcoin buys triggered Tether downgrade, says S&P
Agency explains why it gave world’s largest stablecoin its lowest rating for stability
Comms teams see dis/misinformation on social media as key risk
Criticism from government ranks as smallest risk
Italian government looks to raid central bank gold reserves
Budget amendment could see Bank of Italy liquidate 2,452 tonnes of bullion
Hedge funds cut BoJ bets after torrid year in yen rates
Dealers see lighter positioning after shock October election saw more than $300m of losses, compounding April’s pain
Serbia says sanctions on Russia pose financial stability risks
Central bank sounds warning as government threatens to divest Russian stakes in domestic oil refiner
Sarb finds ‘no compelling need’ for a retail CBDC
Central bank pivots towards wholesale version while modernising national payments system
Website upgrades are comms teams’ top priorities for next year
Commitments differ somewhat by departmental structure
HKMA asks Hong Kong’s banks to assist victims of apartment fire
Lenders requested to offer liquidity, repayment flexibility and replace documents for those affected
BoJ board member says rate hikes should continue
Noguchi calls for cautious approach to ensure inflation target is met
Working group minutes: rethinking dollar reserves
Central banks are seeking ways of mitigating geopolitical risk while maintaining dollar exposures
BIS chief calls for limits on NBFI leverage in bond markets
Use greater central clearing and minimum haircuts on repos to reduce risks, says Hernández de Cos
Climate and fragmentation are key risks, say deputy governors
Officials from EMEs in Africa and Americas outline concerns at Autumn Meetings
AI agents can manage liquidity, researchers find
BIS/BoC paper encourages policy-makers to lay groundwork for broader adoption in financial markets
ECB in no hurry with new structural operations – Välimäki
Portfolio will first need to be reduced ‘considerably’, says bank's alternate board member
‘Refresh’ continues as RBNZ appoints new board chair
Acting chair Rodger Finlay steps into position permanently ahead of new governor taking office
South Korea holds policy as expected
Economists expect decision to mark end of easing cycle
Larger comms teams involved earlier in policy decisions
Most departments become involved in duty after decisions are taken
Argentina and the fear of floating
Economists believe the country’s authorities must fully liberalise the peso before it is too late
Fed officials’ stock trading must be reined in, say experts
Ethics violations by FOMC members mean it is time to overhaul rules, former policy-makers argue
Bolivia negotiating $9bn loan to boost reserves – minister
No exchange rate reform in near term as government focuses on stabilising economy, says Espinoza
RBNZ’s 25bp cut marks end of easing cycle, say economists
Bank says economic activity picked up after policy fell to lowest point in more than three years
Market interaction key to effective FX interventions – panel
Central bankers from the Americas say data and communication help to reduce volatility
Hybrid teams widely employ social media for two-way communications
Most respondents use strategies to address crises and disinformation