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Former Richmond Fed chief to oppose discount window reform
Counting unused capacity towards prudential requirements would be ‘unwise’, Lacker will argue
Google Cloud outage causes disruption across UK banks
Barclays, Bank of Scotland, HSBC, Lloyds and Revolut customers among those reporting problems
Peer comparison launches
Watch the demo of Central Banking’s new peer comparison tool, part of the Benchmarking Service
Holding limits could support CBDC adoption – ECB study
High threshold, plus reverse waterfall functionality, could mitigate stability risks, researchers say
Volume of damaged notes withdrawn from circulation increases
Frequency of official fitness tests tends to have bearing on removals
PBoC considering making overnight rate its benchmark
Governor says rate already ‘benchmark-like’ as he unveils onshore FX pilot and other measures
Banrep paper proposes LLM-driven forecast method
Sequential design enables economists to study ‘information environment’
Warsh is not silencing the Fed, he’s making it speak with one voice
Without the dot plot, markets would rely more on the chair's words to assess the path of rates – although only at the short-end, argues Marcello Minenna
Lagarde sees slower pass-through after bond sell-off
Higher yields will limit knock-on effects from energy shock, ECB president tells IMF meeting
BoE probes Barclays’ handling of private credit loans
FT report says PRA investigating misallocation of derivatives following internal complaint
Georgieva: love it, hate it or fear it, AI is here
IMF MD’s ambivalence contrasts with Macklem’s cautious optimism and Anthropic policy chief’s bullishness
Fed finds larger-than-expected bank exposure to private credit
Researchers add sector to national accounts for first time
Dan Katz on the IMF’s role amid a fracturing economic system
The first deputy managing director speaks about the fund’s efforts in technical assistance, central bank guidance, debt workouts and surveillance in a system beset by fiscal imbalances, geopolitical fissures and digital disruption
Atomic settlement: a solution to cross-border payment woes?
Experts say simultaneous settlement has the potential to improve cross-border frictions – so why are central banks lukewarm?
One in five central banks to issue new banknotes next year
Third of respondents have seven denominations of banknotes in circulation
French prices half as sensitive to oil as in 2016 – BdF blog
Lower household fuel use and less oil-intensive production reduce pass-through to consumers
Big Mac price never catches up with dollar – Dallas Fed blog
Prices barely adjust to currency swings even after four years, economists find
AI growth could offset effects of ageing in Asia – Georgieva
At launch of Shaping the Future of Asia, ex-governors discuss factors behind region’s growth
Warsh: I’ve focused too much on monetary policy
Fed chair vows to pay more attention to supervision, payments systems and consumer affairs
National Bank of Ethiopia joins Papss
Network says it will increasingly focus on boosting Africa’s connectivity with global payment systems
Banks must fix gaps in climate stress tests – Elderson
ECB supervisor says risks once thought remote are moving closer to becoming tomorrow’s baseline
Little evidence of second-round inflation in UK – Bailey
BoE governor says economy more resilient than expected, amid signs of AI investment
Number of banknote depots linked to cash cycle involvement
Public and private sectors jointly bear distribution costs in most jurisdictions
Tighter financing and high oil prices dominate Fed Beige Book
But strong variations exist between districts
Imminent US shake-up of LCR slated to include discount window
Adding Fed liquidity facility to bank regulation may help overcome stigma, raise lending capacity
Venezuela seeks shift to inflation targeting in medium term
Minister says dollarisation not ‘right answer’ and debt sustainability analysis to be published soon
Pre-emptive policy has built credibility, says Georgian governor
Enriched monetary policy toolkit assesses whether shocks are transitory in a volatile world
Success of Rwanda’s eKash comes from mandatory use – governor
Central bank learned from UPI and Pix on how to lower transaction costs on instant payment system
Mandatory cash acceptance not always backed by other policies
Benchmarking data suggests possible mismatch between demands on banks and merchants
Overnight rates hitting MRO no sign of failure, says Välimäki
Bank of Finland board member outlines preferred view of new ECB structural operations
Yue: China’s growth issues won’t impact yuan internationalisation
HKMA chief also says rising long-term bond yields have not affected Hong Kong
Lagarde cools speculation of ECB rescue amid French debt woes
Central bank chief urges her home country to get its fiscal house in order
Fiscal consolidation still possible in France – Moulin
BdF governor says Europe facing twin shock from surge in energy costs and bond yields
CBN faces lawsuit over $1bn of allegedly misappropriated funds
NGO demands explanation for more than $6.23m in alleged election-related fraud
IMF, World Bank and BoT launch fraud prevention blueprint
‘Bangkok Blueprint’ targets more than just financial sector to ensure trust in digital financial products
Supervisory culture at Fed a ‘decades-long problem’ – Bowman
Vice-chair says there will be restructuring, while ‘tailoring’ of regulations will also change
Singapore surprises with pause in tightening cycle
MAS says decision made against backdrop of rising inflation, but expects price growth to slow next year
One-fifth of EMDE central banks actively discourage cash use
Digital payments are reducing cash demand, especially in advanced economies
Young people less likely to be hired in age of AI – BdF blog
Technology’s impact less pronounced among older workers, as French firms opt to retain senior staff
FSB outlines principles to guide regulatory ‘modernisation’
‘We have not seen people implement our recommendations and then move back,’ says John Schindler
Hammack: explaining Fed moves is accountability via transparency
Cleveland Fed CEO says setting out the reaction function is not the same as forward guidance
BoK to review use of dot plot it debuted this year – Shin
Governor aims to find forward guidance ‘sweet spot’ and says any review will wait until at least next year
Softer expectations needed for AI-led growth – BIS paper
Large-scale automation could weaken profit incentive that drove technological progress, economist says
Zoltán Kurali on the MNB’s monetary policy framework review
Hungarian deputy explains the rationale behind cutting the target from 3% to 2.5%, retaining a tolerance band and reducing meeting frequency
Volume of cash in circulation averages less than 5bn notes
Proportion of payments made using cash averages 40% in past year
AI, debt and cyber risk threaten financial stability – IMF
Combination of risks ‘may have much broader systemic implications’, says institution’s Vamvakidis
Resilience is watchword in IMF’s World Economic Report
Tenreyro says sources of oil, trade and tech inputs should be diversified if economies are to withstand shocks
Credit shocks hit GDP harder in more equal countries – CNB study
Effects more severe in economies with lower income gaps, but redistribution can cushion blow
Oil futures gloomier than reality during conflicts – Feds note
Commodity has become hedge against macroeconomic risk, research finds
Monetary policy must be more agile during AI transition – study
Bank of Italy paper says inflationary developments offer more reliable guide than long-term r*
