Asia-Pacific
BoK leaves policy rate unchanged
Economists predict South Korean central bank will hold at 2.5% for remainder of year
Op risk incidents average over 100 a year among central banks
Financial impact is risk managers’ strongest metric for gauging incidents’ severity
Phishing and ransomware are central banks’ main cyber threats
Teams widely use training, monitoring and privilege management to mitigate cyber threats
Just under half of risk departments are sufficiently staffed
Units with satisfied staffing levels earn below global average annual salary
Mitigation and reporting are leading components of risk strategy
Decentralised teams more likely to embed philosophy in divisional decision-making
Most centralised risk teams prioritise cyber security
Decentralised teams primarily cover credit and counterparty, op and market risks
Risk policies widely reviewed by committee in larger teams
Central banks with larger teams favour risk committees over CROs
China launches ‘credit repair’ scheme to boost lending
Overdue personal debt of up to 10,000 yuan to be removed from database if debtor repays by March
Hawkish RBA comments wrong-foot Aussie dollar rates traders
Governor Bullock’s unexpected rate hike talk led to stop-outs and losses
Ueda says BoJ’s long-term rates have risen ‘somewhat rapidly’
Japan’s central bank will purchase government bonds if yields continue to rise, governor says
IMF opens third China office in Shanghai
Institution and PBoC say new hub will conduct research into Asia-Pacific’s emerging economies
Central banks’ social media share ticks up
Social-traditional media split for communications roughly the same across different regions
Local languages widely used in central bank communications
African central banks use more English in communications than counterparts in other regions
Comms teams see dis/misinformation on social media as key risk
Criticism from government ranks as smallest risk
Website upgrades are comms teams’ top priorities for next year
Commitments differ somewhat by departmental structure
HKMA asks Hong Kong’s banks to assist victims of apartment fire
Lenders requested to offer liquidity, repayment flexibility and replace documents for those affected
Larger comms teams involved earlier in policy decisions
Most departments become involved in duty after decisions are taken
Hybrid teams widely employ social media for two-way communications
Most respondents use strategies to address crises and disinformation
Confidence in dollar undiminished since April, says BIS’s Shin
Institution’s head of monetary and economic policy says no hard evidence of shift from US currency
Communications teams use AI mainly for drafting
But use cases vary according to team structures
People: Saudi governor elected to BIS board
Plus senior appointments in Asia, the Middle East and Europe