Europe
Esma needs dose of BoE agility, says official
Clearing house supervisor Giusto points to central bank's consultation on Emir as example of nimbler approach
Majority of reserve management strategies unchanged by US tariffs
Some central banks have changed duration or currencies, but for most, business remains as usual
Stablecoins pose bigger risks to US than to EU – de Guindos
ECB vice-president also expresses hope that “populist movements in Europe do not prevail”
Securities lending banks engage external managers for new assets
Allocation to third parties rises year on year to 15.6% on average
Political turmoil rattles Turkish lira carry trade
Echoes of March crackdown that sparked market rout leave traders on alert
Non-dollar stablecoins could spur greenback’s decline – BdF deputy
Central banks should embrace, not oppose, financial innovation, Bénassy-Quéré argues
Competitiveness, not regs, led to Poland’s RTGS upgrade – expert
Central bank aims to maintain payments “edge” with ISO 20022-compatible Sorbnet 3 system
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
Liquidity impairment harms policy transmission – BIS paper
Authors say QE may be more potent in times of market stress
Reserve managers typically do not employ negative screening
Central banks with short-term import coverage more likely to utilise tool
European Central Bank holds rates
Staff’s new projections look “similar” to those published in June, Lagarde says
SNB to publish minutes of policy meetings in transparency push
Summaries of discussions will put Swiss central bank in line with its global peers
AI opens new possibilities to approach core mandate – Nagel
Bundesbank president says technology enables central banks to deal proactively with stability risks
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
ECB working to simplify banks’ annual health checks – Donnery
Srep will become more tailored to lenders, says supervisory board member
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
People: Former RBI governor appointed to IMF
Plus: Blyth replaces Bowe on BoE’s FPC and WGC teams up with Elton John
Reserve managers widely satisfied with staff strength and resources
Large reserve management teams tend to earn higher salaries
DNB calls for ‘structural solutions’ to varying eurozone inflation
Rebalancing effect of eurozone’s uniform monetary policy is “slow and incomplete”, central bank says