Bank of Italy
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
How to run a world-class economics department
Central banks have myriad ways of organising their economists
Taking a cue from the top: governor turnover and independence
Central bank governors tend to have long tenures, but what that means can vary. High turnover remains a worrisome signal
Rethinking regulation of the modern financial system
Rules need to address uncertainty in addition to risks, and should not be too complex
Cash, not trash: the second lives of substrate
Central banks and their banknote providers are taking a range of approaches to recycling cash
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
The international effort to manage NBFI risks: where do we stand?
Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-pru issues
Payment services: CMA
Swedish payments firm is now key player in new payment system linking the Arab world and beyond
ESG reserves adoption challenged by reliance on sovereign bonds
Higher issuance of government-compliant bonds is insufficient to offer investable alternatives to central banks.
People: ECB appoints new head of macro-pru
BIS names Innovation Hub directors; Bundesbank sends representative to Madrid; and more
Trust essential to success of global CBDC usage, panellists argue
CBDCs are yet to prove they offer advantages over private sector initiatives
Report finds major failings in eurozone’s RTGS management
ECB-commissioned Deloitte inquiry into system failures recommends series of reforms
Bank of Italy paper uses agent-based model of housing market
Limits on borrowing are effective but not currently needed for Italian housing sector
People: ECB appoints head of climate change centre
Bank of Italy names new head of financial supervision; Kansas City Fed appoints assistant vice-president
Judicial efficiency improves bank credit – Bank of Italy paper
Banks lend more freely and at lower rates in regions with swifter bankruptcy proceedings
Book notes: Economic philosophies, by Alessandro Roselli
Roselli’s analytical and historical exploration is especially valuable now, writes Robert Pringle
Specialised lending initiative: Clearstream
Clearstream is supporting eurozone central banks with their asset purchase programmes
The untapped potential of transaction data
Covid-19 has highlighted the need for central banks to have more timely information, questioning whether high-frequency indicators are being used to their full potential.
Paper examines US pensions’ effects on natural rate
Welfare effects of possible reforms depends on productivity growth, Bank of Italy paper finds
Bank of Italy names Signorini to second most senior role
Long-time official is promoted to general manager after Daniele Franco becomes finance minister
Bank of Italy paper uses Twitter to track inflation expectations
New method’s data gives a “good real-time proxy” for consumers’ expectations – researchers
Paper presents real-time bank stress measurement tool
Bank of Italy paper can measure deposit flows using RTGS data, researcher says
Temporary green QE might have limited effects – research
Green bond buying can cut flow of pollution but has little effect on stock – Bank of Italy paper
Ulrich Bindseil on the launch of the digital euro
ECB’s payments head speaks about the functionality, tiering and technology of the eurozone’s planned CBDC