Bank for International Settlements (BIS)
Climate training hub launched by international consortium
BIS training platform will act as single access point for climate risk training for central banks
World Bank appoints Caribbean and central Asian directors
New York Fed names chief of innovation hub and St Louis appoints head of economic equity institute
Stress tests may be poor guide to capital levels – BIS paper
Authors develop model of how “noisy” tests may cause problems for regulators
BIS annual report: ‘disaster averted’ but world ‘not out of the woods’
Report weighs up three scenarios for “pandexit”, none of them without drawbacks
BIS pays out double dividend after bumper profit
Recovery from Covid-19 handed the BIS its second-largest profit in its history
BIS’s Luiz Pereira on tackling the climate crisis
Deputy general manager highlights the challenge posed by radical uncertainty, the benefits of carbon budgeting, and the case for acting now
Carney warns CBDC delays play into hands of big tech
Failure to launch CBDC risks entrenching power of tech firms, former BoE governor says
BIS prepares to redevelop HQ
Bank’s biggest building project since the 1970s could see major expansion of main site
‘Fiscal distress’ can reverse exchange rate dynamics – BIS paper
Authors emphasise “contingent nature” of exchange rate response to shocks
El Salvador’s bitcoin currency experiment
Move by first nation to approve bitcoin as legal tender raises important issues
BIS opens Nordic innovation hub
Stockholm office is fifth in hub programme and involves four of the region’s central banks
BoE’s Bailey says CBDCs could be ‘fundamental’
Innovation hub run by BoE and BIS hub likely to concentrate on CBDCs and payments, official says
Basel Committee proposes strict treatment of crypto asset exposures
Crypto assets such as bitcoin will face risk weight of 1,250%
BIS and French and Swiss central banks announce joint CBDC project
Project Jura will link national CBDC initiatives in bid to facilitate cross-border payment
Global recovery is ‘double edged’ for EMEs – Carstens
“Too soon” to say whether inflation will be sustained but markets may overreact, says BIS chief
Financial sector still a headache for central bank modellers
Macro-financial links are difficult to integrate into key models, with progress since the global financial crisis slow. But some central banks are making breakthroughs
Bank of Finland invests in BIS green fund
Central bank invests $300 million in fund supporting renewables and energy efficiency
Powell, Lagarde and Yi call for urgent action on climate change
Lagarde says asset taxonomy is needed soon while Yi says G20 must create disclosure standard
Central banks face legal risk over climate – ECB’s Elderson
NGOs could sue central banks for failure to take suitable action over climate change, says NGFS chair
Firms and supervisors must ‘transform’ climate risk management – regulators
Complexity and uncertainty demand major rethink of risk, say ‘Green Swan’ event speakers
Mandatory climate disclosures needed now – senior central bankers
Greening monetary policy operations should also be a priority, policy-makers say
‘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 – on expectations, on fiscal policy, and on the capacity of the economy to ‘run hot’
RBI faces dilemma from US policy spillovers – BIS paper
Authors highlight evidence of “contractionary devaluation” when US monetary policy tightens
Inequality can worsen recessions – BIS paper
But authors say there is little evidence that income inequality affects consumption in normal times