Europe
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
ECB’s Cipollone reveals plans for digital euro infrastructure
Mobile app to enable “basic functionality”, with transactions processed in three different regions
Geopolitics, crypto and inequality are systemic risks – ESRB panel
Geopolitical risk is shaping markets, institutions and the financial system, says Olli Rehn
People: ECB creates task force to simplify regulation
Plus: Kocher takes over as head of Austria’s central bank
BoE economists outline model of liquidity-solvency spirals
Model aims to test banks against the sort of interactions that led to collapse of SVB and Credit Suisse
Ireland no longer approving Israel bond prospectuses in EU
Luxembourg takes over following campaign by Irish civil society groups
No ‘race to the bottom’ if Fed is forced to cut – Schnabel
ECB board member says politicised US central bank would be “very disruptive”
EEA non-banks to gain direct Target access from October 6
Fintechs to benefit from reaching beyond Sepa, Lithuanian central bank says
NBER paper says geopolitical risk impacts consumer expectations
ECB survey questions help establish causal link between Russia-Ukraine war and spending plans
Lagarde says US-EU deal lowered uncertainty ‘considerably’
ECB president voices concern over Fed independence, French debt
Teach people monetary policy to anchor expectations – ECB paper
Experiment run at ECB visitor centre finds strong impact from education
Yield spreads of bonds held by mutual funds decline in QE – ECB paper
Bond purchase programmes compress risk premia and boost demand, research finds
Eurozone unemployment stats may understate slack – research
Authors say they have created an indicator with important monetary policy implications