Asia-Pacific
Majority of CBDCs designed to be domestic only
But a fifth of central banks are working on multi-currency CBDCs
CBDCs politicised in one in five jurisdictions
Public and private sectors mostly concerned about privacy of digital currencies
Fintech licences issued yearly remain below 10 on average
Number of fintechs in operation averages just over 60
Renminbi options volumes plummet as vol grinds lower
USD/CNH volumes fell 84% in 2025 as PBoC currency management took hold
MAS and HKMA aim to green red envelopes over Lunar New Year
Monetary authorities encourage the giving of used notes or electronic cash gifts to cut waste
Central banks keep trialling link between wCBDC and RTGS
Most respondents motivated to issue wCBDC to enable financial innovation
Majority of central banks still lack CBDC issuance powers
Legal mandates are scarce in both larger and smaller central banks
Two in five CBDCs designed to be programmable
Over half of respondents’ retail CBDC projects are at research phase
This is not quite Japan’s ‘Truss moment’ – ex-BoJ board member
Experts add that central bank is unlikely to have to intervene directly in sovereign bond market
People: Turkey appoints new deputy governors
Plus high-level restructurings in Thailand and Italy
People: President’s nephew confirmed as BI deputy governor
Plus new governor in Malawi and Croatia’s vice-governor to become minister
IMF overcalculated Taiwan’s USD exposure – central bank chief
Fund’s measure showing USD holdings at 45 times local FX markets is “misunderstanding”, Yang says
BoJ holds rates as politics and sovereign bonds take spotlight
Decision closes out week in which JGB yields rose to historic highs after PM called snap election
Legal threat to Fed accelerates Asean+3 contingency planning
AMRO chief economist says central bank independence of paramount importance for stability
Risk management reviews are most common assessment method
Centralised teams are less likely to conduct external or management evaluations
UK’s Orange Book risk approach rarely used by central banks
Only three centralised risk management departments utilise principle
Trade fragmentation still favours west over east – BdF study
Authors says US-led bloc better placed to win over neutral states than China-aligned grouping
BoK leaves policy rate unchanged
Economists predict South Korean central bank will hold at 2.5% for remainder of year
Staff error is largest cause of op risk at central banks
Legacy systems tend to trigger most threats in jurisdictions with greater than average number of incidents
People: HKMA extends deputy chief executive’s term
Plus new appointments in the Philippines, New Zealand and Vietnam
Central bank governors express ‘full solidarity’ with Powell
Lagarde and Bailey among signatories of statement in wake of Department of Justice investigation