News
ECB announces major boost to pandemic programmes
New TLTRO programme will offer banks financing at negative rates to maintain consumer lending
Bank of Mexico sounds alarm over draft law
Central bank says law could damage its independence and create money-laundering risk
Most authorities failed to build up buffers before Covid hit – Carstens
Supervisors face more problems once emergency support measures are withdrawn, says BIS chief
Fed joining NGFS would be a ‘game changer’ – Després
NGFS to increase study of monetary policy’s climate implications, head of secretariat says
ECB set to boost QE purchases and extend duration of stimulus
Eurozone central bank is widely expected to increase emergency asset purchases by around €500 billion on December 10
People: New deputies named in China and Mexico
Plus ECB appoints senior supervisors, and Donald Trump tries to install new OCC chief
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan; urges ECB to reject Fed-like average inflation targeting
Could AI ever replace human bank supervisors?
Data collection and processing remains key in leveraging artificial intelligence
Danish central bank moves closer to Target settlement systems
National Bank of Denmark applies to use T2 RTGS system and may start using Tips
BIS warns of gap between cautious banks and buoyant markets
Report says exuberant market conditions may belie underlying risks
BoE considering legal action over hoax press release
Group calling themselves the ‘Yes Men’ claimed credit for the fake
Project Helvetia proves central banks can use tokenised assets – BIS
Benoît Cœuré says project marks “the beginning of the further evolution of central banking”
BoE needs ‘better handle’ on control of UK currency
Lawmakers highlight the UK’s disjointed cash management, which could put consumers at risk, they say
Norges Bank deputy governor resigns over security clearance
Deputy governor in charge of world’s largest SWF denied clearance because of wife’s residence in China
Colombia draws on IMF’s FCL funds for first time
Government resorted to $5.4 billion drawing to help meet higher pandemic financing needs
Lane’s calls to investors stir controversy ahead of key ECB meeting
Chief economist’s private discussions with investors after policy meetings come under scrutiny
Christopher Waller narrowly passes Senate vote
St Louis Fed economist approved for Fed governor role, despite opposition from Democrats
Pressure from Facebook may speed up digital euro development – panellists
ECB does not plan to announce whether it will proceed with digital euro proof of concept until mid-2021
Centralisation key to digitising central banks – ECB conference
Bank of Italy studies use of machine learning to boost supervisory capabilities
Brazil central bank could ‘test’ lower rates if inflation remains weak – IMF
IMF staff see “no constraint” to lower rates as long as forward guidance is deployed
BoE prepares to launch sharia-compliant liquidity facility
Special-purpose vehicle will be structured as a ‘wakalah’ or fund-based liquidity facility
Saudis and UAE say shared CBDC is technically possible
“Project Aber” shows DLT can be used to upgrade cross-border payments, central banks say
Pandemic accelerates decline in eurozone cash usage – ECB
During 2016-19 cash gradually declined as means of payment, but was still first option
Dollar Libor reprieve sparks fallback uncertainty
Popular settings to end in June 2023; market seeks clarity over timing of fallback spread triggers