Europe
Board non-execs more likely to be appointed by governments
Middle income central banks tend to have more government officials on board
ECB should cut rates earlier, says BdF governor
French government has failed to reform since 2015, Villeroy de Galhau says
People: January to March 2024
A round-up of central bankers in the news and on the move during the past three months
Central bank independence usually safeguarded by law
But one in 10 respondents see their autonomy threatened
Most central banks have policy independence
But some respondents provide details of pressure they have faced to change policy
BIS project aims to redesign global payments infrastructure
“Most ambitious” innovation hub project to date will test BIS’s “unified ledger” concept
Middle income central banks lag on diversity and green policies
But code of ethics and whistleblower schemes remain common standards
Governors’ salaries tend to rise with country income
Low income developing countries less likely to disclose data
African central banks most likely to manage sovereign wealth fund
FX reserve management, currency supply remain leading functions in most jurisdictions
ECB economists highlight smooth quantitative tightening
Foreign investors are largest euro area securities holders, but households are buying more
Governors rarely removed by central bank boards
Ultimate responsibility broadly vested in heads of state, other government entities
Global Money Week aims for better money sense
OECD event aimed at boosting financial literacy receives attention in central and eastern Europe
Fight against rating inflation only partly successful – ECB study
ABS issuers still shop around for credit ratings despite tougher EU regulations, paper finds
Governors’ terms average just over five years
Central bank chiefs are typically allowed two consecutive terms in office
ECB to explore nature-related risk in environmental plan
Climate change and biodegradation are “two sides of the same coin”
People: Sveriges Riksbank appoints new deputy governor
BIS replaces general counsel, SNB announces new head of communications
Around half of governments consult central banks on mandate reviews
Practice less likely to be found in Asia-Pacific and the Americas
Denmark to join eurozone’s T2 and Tips systems
National Bank of Denmark expects to fully transition by April 2025
ECB and EBA establish new bank supervisory committee
New body aims to harmonise supervisory, resolution and statistical reporting
Bundesbank reckons with predecessor’s past
German central bank publishes report showing Reichsbank was integral to the Nazi era
Bank of Italy study looks at regulating finance firms’ tech risks
European authorities’ efforts have increased sector’s operational resilience, researchers find
EU watchdogs to launch prop trader capital review in April
Prop traders say bank-style IFR rules are driving them out, but doubt EBA will suggest changes
ECB unveils new monetary policy framework
Move will see central bank make cheaper loans to eurozone lenders as it shrinks its balance sheet
ECB banking supervision staff to move location
All 1,700 supervisory employees to move into Gallileo building by end of 2025