The Americas
Financial stability depends on central bank co-operation – ECCB deputy
Valda Henry tells Autumn Meetings that collaboration is vital for small islands’ survival
Reserve managers in Americas aim to be ‘more daring’
Central Banking Autumn Meetings: managers look to diversify assets, jurisdictions, currencies and counterparties
Social media and press releases are primary external comms channels
Impact assessment tools vary across teams by structural approach
Three in four comms teams report non-staff resource adequacy
Senior staff make up roughly half of departments across jurisdictions
Centralised comms unit staff earn lesser salary than peers
FTE employees average roughly 20 personnel across central banks
Hybrid comms teams prioritise website over other activities
Communications department budget averages just over $1 million yearly
People: Bostic to step down from Atlanta Fed
Plus new appointments in Botswana, Estonia, Slovakia, Singapore and at BIS
No Fed G-Sib buffer reform in 2025, say experts
Recalibration of method 2 seen as more likely than its abolition; banks resist daily averaging
Banks grapple with Fed’s double deadline on stress-test plans
Supervisor consulting simultaneously on next year’s test scenario and broader model changes
Fed cuts rates with dissenting votes in both directions
Risks to employment and prices split FOMC three ways
Policy impact widely gauged by macro and market indicators
Policy-making frameworks commonly reviewed on ad hoc basis
Quarter of central banks have government reps on MPC
Only one such committee publishes policy-makers’ votes
Half of central banks offer no forward guidance
MPCs that meet at above-average frequency less likely to observe blackout period
MPCs with more frequent meetings tend to be more transparent
Just under three-tenths of central banks publish current level of r-star
Geopolitics and supply shocks top monetary policy risks outlook
Risk factors vary by nominal anchors and geographical regions
Committees of exchange rate targeting central banks meet most often
Inflation targeters have the average highest number of committee members
Targeted liquidity facilities decline year on year
Lending to small businesses and other goals are top criteria for access
Central banks’ asset purchase programmes thin out further
One in five inflation targeters still use scheme, but most plan to taper purchases
Most monetary policy units sufficiently resourced
Macroeconomic analysis and research duties are officials’ top functions
Monetary policy staff annual pay rises year on year
Divisional budget averages less than $10 million a year
Middle income monetary policy teams comprise more junior staff
Monetary policy FTE employees average nearly 40 individuals across central banks
Chief risk officers: a critical function or a distraction for central banks?
Institutions are divided on whether the role is needed, but it is becoming more common
Interest rate risk rules need more work, says Fed’s Barr
Former vice-chair for supervision also says his redraft of Basel III would have softened NMRFs
How staff exodus could leave the OCC high and dry
A third of staff set to depart US regulator, but some teams will suffer much heavier losses