Asia-Pacific
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
Asean+3 central banks have space to buffer shocks – Amro report
Study says institutions are capable of more accommodative policy, should external circumstances demand it
People: Bunge made first deputy governor at Riksbank
Plus: Promotions in India and Singapore, and Santos Pereira takes charge in Portugal
Singapore and Hong Kong increase FX trades – BIS survey
Singapore strengthens position as third largest hub, amid greater use of yuan and HKD
Credible Fed key to dollar’s role in Asia – Amro’s Dong He
Organisation’s chief economist says Asia’s central banks not seeking to disrupt currency’s position in region
World Bank Ramp membership stronger among smaller teams
Share of central banks participating in network rises year on year
Central banks on average intervened in FX markets 21 times in past year
Minority of respondents expanded access to swap lines
Central bankers’ compromised immunity
Just how much legal protection should officials have from spurious lawsuits or wrongful dismissal?
Majority of reserve management strategies unchanged by US tariffs
Some central banks have changed duration or currencies, but for most, business remains as usual
China holds and Hong Kong cuts after Fed eases
PBoC leaves seven-day repo rate unchanged as HKMA eases policy to maintain dollar peg
China’s cross-border clearing system expands to 189 countries
PBoC deputy governor Lu Lei says Cips processed $12.7 trillion of payments in H1
Securities lending banks engage external managers for new assets
Allocation to third parties rises year on year to 15.6% on average
Investment remains largest tranche of most FX reserves
Asset-screening central banks more likely to operate other tranches
Smaller reserve holders rarely lend securities or conduct stress tests
CVAR remains widely used risk management technique
Reserve managers typically do not employ negative screening
Central banks with short-term import coverage more likely to utilise tool
Be proactive on AI and quantum, Riksbank deputy says
Authorities should collaborate despite geopolitical tensions, says Aino Bunge
Many managers assess reserves with benchmarks and other approaches
Central bank board remains top body granting approval for reserve benchmarking
European central banks shift reserves from US Treasuries to euro assets
US Treasuries still make up largest share of respondents’ reserves globally
Nexus’s new CEO on the future of the cross-border payments platform
Nexus Global Payments CEO Andrew McCormack discusses the multi-lateral instant payments system’s technical build-out, governance and launch strategy
Two in five large reserves holders reduce dollar allocations
Yet central banks’ FX holdings remain broadly denominated in US currency
Nexus will connect at least three Asian countries by 2027 – CEO
Company expects to announce winning bidder for contract to build payments platform by year’s end
Reserve managers widely satisfied with staff strength and resources
Large reserve management teams tend to earn higher salaries