Bank of Italy
Italian governor concerned over Russian asset seizure, officials say
Panetta says renminbi has overtaken euro as international currency since Russia invaded Ukraine
Bank of Italy paper examines within-firm estimation strategy
Credit interdependence means standard estimates of shocks’ effects are biased , authors find
Central banks of Korea and Italy boost co-operation on payment systems
Bank of Korea and Bank of Italy to exchange knowledge on RTGS and CBDC
ECB raises concerns over Italian macro-pru committee
Decree should give a casting vote to governor and remove members’ vetoes, ECB says
Cipollone joins ECB board
Italian economist succeeds Panetta, who takes over the Bank of Italy
Natural disasters can trigger capital flight – Bank of Italy paper
International investors move funds out of EMEs but not advanced economies, researchers say
People: July to September 2023
A round-up of central bankers in the news and on the move during the past three months
Cracks open in ECB’s governing council
Italian governor warns against excessive tightening as Bundesbank president insists rates must be higher
Italian government picks ECB’s Panetta as new governor
Italy may struggle to maintain seat at ECB’s executive board if Panetta heads Bank of Italy
Bank of Italy expresses concerns over flat tax
Official says policy is typical of emerging markets and could weaken income redistribution
Italian PM considering sovereign wealth fund
SWF would support domestic industry and rely on “enormous savings”
BIS to trial Asian instant payments link
Project Nexus aims to create standardised cross-border link for different countries’ systems
“Make-up” strategies may boost monetary policy, says paper
Price-level and average inflation targeting regimes stabilise import-related inflation, researchers find
Proportionality in bank regulation: striking the right balance
The ‘final’ Basel III framework contains elements designed to make the rules fairer while reducing regulatory arbitrage. This means careful analysis is required when making any proportionality adjustments in the EU single rule book, writes Maurizio…
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
Benchmarking data shows central banks have myriad ways of organising their economists. So how do some of the world’s top research organisations do it?
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
Bank of Italy’s Maurizio Trapanese writes that rules need to address uncertainty as well as measurable risks, entity types as well as activities, and should not be overly 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?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Payment services: CMA
The Swedish payments firm is well known as a provider of core infrastructure for central banks, and is now a key player in a 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