News
BoE paper: simple communication can backfire
Success of communication is not measured by number of people reached, paper states
Bernanke offers ideas for Fed’s policy framework review
Unconventional policies are “preferable” to raising inflation target and can still be enhanced, Bernanke argues
Rates have been falling for eight centuries – BoE research
Study casts doubt on major theories, including secular stagnation; author warns rates could “soon enter permanently negative territory”
Pension funds suffer in latest round of Eiopa stress-testing
Only 30% of funds have policies in place to mitigate ESG risk; low interest rates continue to pose a problem for funds across Europe
West Africa launches new currency in break with France
New ‘eco’ currency will still be pegged to the euro, but France will have less involvement in the affairs of the West African Economic and Monetary Union
Central Bank of Iceland completes merger with regulator
Governor Ásgeir Jónsson to retain overall responsibility; two new deputy positions created
ECB paper offers tiering solution to CBDC structural concerns
Separating CBDC functions between tiers could disincentivise use during crisis periods, but disintermediation of the banking sector still a risk, author warns
Risk weight tweak could fix IFRS 9 capital clash – research
Practitioner suggests way to cancel out double-counting of Basel credit loss provisions
Fed avoids year-end cash crunch
Repo market shows barely a ripple over New Year’s Eve after Fed injects a quarter of a trillion dollars
Eurochain: CBDC project seeks secure anonymity
Proof of concept blends anonymity with AML/CFT regulation
Bahamas rolls out first phase of CBDC pilot
Pilot will be rolled out to rest of country after June 2020, says governor Rolle, contingent on success of Exuma and Abaco case studies
Markets surge as PBoC cuts RRR
Cut designed to support the flagging economy; PBoC insists it is retaining “sound” policy
2019: The year in review
The past year was marked by a persistent weakening of the global economy, and some radical financial innovations
People: Ingves elected ESRB vice-chair
Appointments at ESRB and ECB; official resigns from the Central Bank of Colombia
Schnabel and Panetta appointed ECB executive board members
The final distribution of responsibilities in January will determine the new members’ portfolios
Andrew Bailey to be next BoE governor
FCA chief will return to central bank after turbulent term at sister regulator
Riksbank abandons negative rates
Swedish central bank increases repo rate by 25 basis points, but two board members dissent
Tighter regulation may be working – MIT economist
Kristin Forbes says banks may be more resilient but warns risk could be shifting to shadow sector
BoE probes press conference audio feed leak
FCA investigates alleged leak of backup feed to third parties before main broadcast
ECB warns Lithuanian government over bank tax plans
Plan to tax banks’ assets could harm financial stability, particularly for weaker lenders, ECB says
Central banks need to avoid dependence on markets, officials say
ECB and Fed officials reflect on relation between bond market expectations and their policy decisions, in farewell conference for Benoît Cœuré
BoE to test banks on climate risks over 30-year horizon
Unusual stress-test design reflects long horizon and interlinked risks posed by climate change
New Zealand launches next phase of RBNZ governance overhaul
RBNZ gains new governance board and formal financial stability remit
Benoît Cœuré attacks lack of political will by eurozone leaders
European single market needs serious reform, says retiring ECB official