Asia
Monetary policy and ops divisions mostly segmented
Nine in 10 institutions separate units in the Americas, Asia and Europe
Less than half of central banks implement blackout periods
Concept most often used in high income markets
Most central banks retain power to issue debt
Lower income countries most likely to report debt issuance powers
Institutions in the Americas have most monetary policy staffing
Six institutions expanded workforce by an average of 7%
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
Covid impacting monetary policy most in middle income countries
Most central banks report shifting stance at the height of pandemic, but some have since reverted
BSP raises rates by 25bp, while Indonesia holds
Economist warns Philippine central bank’s action may not be enough to bring inflation down
Japan and Soramitsu to conduct Asia-Pacific CBDC studies
Observers note de-dollarisation and spread of e-yuan as potential motivations
Non-bank access to RTGS systems still rare
Only a handful of central banks allow non-bank users
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
High income countries have larger share of staff devoted to payments
Structure of central banks’ payments sections differs across institutions
Average RTGS system processes millions of payments yearly
Benchmarking data shows wide range of transaction volumes
Less than 10% of RTGS systems meet ISO 20022
Most non-compliant central banks plan to implement messaging protocol by 2025
People: Skingsley to head BIS Innovation Hub
New deputy governor in Philippines; BIS names new Asia-Pacific rep; and more
Central banks use many third parties for payments projects
Respondents mention various providers, with Montran the most frequently cited
Three-quarters of central banks exploring CBDCs for retail payments
Though research is common, only a few have moved to pilot or roll out the technology
Communications Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the ongoing shift to social media and the impact of Covid-19
South Korean inflation climbs to 13-year high
Central bank concerned about record price rises
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
Vietnam developing crypto legal framework
Country banned crypto as a means of payment in 2017
Central bank of the year: Bank of Korea
South Korea’s central bank was the first developed-world central bank to tighten policy to address inflationary risks
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Initiative: BoT and MAS’s PromptPay-PayNow link
Connecting the two nations’ instant payment systems is empowering citizens
Global markets: HSBC
Bank’s long-term commitment to clients and wide range of expertise shone in aftermath of pandemic