Europe
CNB digital asset portfolio is about real learning, says Michl
Governor says bank is not looking to simulate reality but ‘touch it’ with experimental bitcoin holding
Communications teams use AI mainly for drafting
But use cases vary according to team structures
Lagarde says talk of AI bubble misses ‘bigger picture’
ECB president, a former AI sceptic, now believes not embracing it could ‘jeopardise Europe’s future’
People: Saudi governor elected to BIS board
Plus senior appointments in Asia, the Middle East and Europe
LinkedIn, Facebook and YouTube are top comms platforms
Over a third of communication teams adopted new platforms in the past year
Central banks universally communicate internally via email
Additional tools used vary somewhat by system efficiency and structure
ECB moves to link Tips with India’s UPI and Nexus
Connection with Nexus still hinges on ECB exploring potential ‘feasibility’
€25K handouts would not affect labour market – ECB paper
Stimulus packages are effective in raising consumption, researchers argue
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
Irish governor warns against stretched equity valuations
CBI is latest institution to flag risks of market correction as talk of AI bubble continues
More independent central banks hold fewer dollars – research
De-dollarisation benefits Singaporean and Korean currencies, while Australia’s and China’s lose out
Hybrid comms teams prioritise website over other activities
Communications department budget averages just over $1 million yearly
France could lose 7% of GDP from climate-linked event – BdF deputy
Bénassy-Quéré says even ‘the most ardent’ sceptics will have to accept reality of global warming
‘Imaginations are running wild’ – Nagel on AI
Europe is prepared for a financial downturn, Bundesbank president says
ECB’s Elderson welcomes debate on simplification
Vice-chair of supervisory board points to expanding proportionality and cutting capital stacks
BoE, MAS and BoT to test synchronised FX settlement
Project will use ‘synchronisation operator’ to achieve atomic settlement
People: Bostic to step down from Atlanta Fed
Plus new appointments in Botswana, Estonia, Slovakia, Singapore and at BIS
Advanced economies’ debts are ‘unsustainable’ – research
US, Japan and European nations need to get their fiscal act together, says study by Belgian central bank
ECB planning to use law to make Apple give way on digital euro
Bank looking to use Digital Markets Act to enable people to hold CBDC on iPhones’ ‘secure element’
ECB finds holes in banks’ credit spread risk nets
Banks censured for insufficient evidence to support exclusion of products from CSRBB perimeter
Support for euro hits ‘record highs’ – ECB
Previously sceptical countries have grown to like shared currency, research suggests
ECB fines Spanish bank for not complying with climate rules
Supervisor imposes first-ever financial penalty over environmental prudential requirements