Europe
Hernández de Cos encourages banks to use capital buffers
Basel Committee chair says it is “only a matter of time” before losses become apparent
ECB outlines changes to forecasting during Covid
High-frequency data, GDP-at-risk, changes to use of PMI and stringency index all useful, authors say
Tourism acts as Covid-19 amplifier in the eurozone
Shock is increasing fragmentation risks in the region due to its uneven effect across countries
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields
People: San Francisco Fed appoints strategy and people officer
Dallas and San Francisco Feds appoint officials; new ECB comms chief takes up role; Bank of Greece adviser to head up payments network
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
Paper tracks changing rhetoric of Bank of Italy governors
Governors have changed the focus of their concluding remarks over time, as well as the length of their speeches
People: T&T governor has term extended
Hilaire will stay at T&T central bank until 2023; Sri Lanka promotes two assistant governors to deputy posts; Australia appoints new assistant governor; CNB official joins Esma board
What does 2021 hold for the ECB?
Former officials reflect on AIT, how the strategy review may affect normalisation, QE options and the need for new tools
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
EBA sets out methods for AML risk assessments
Reports can be triggered by concerns over authorities’ anti-money laundering frameworks
Size matters for central bank research publishing
Staff numbers have strongest association with central banks’ research output
ECB establishes tough conditions for banks to resume dividends
Dividends must remain below 15% of cumulative profits in 2019-20 and not higher than 0.2% of CET1 ratio
Economists earn more than number-crunchers at central banks
On average, statisticians take home 88% of what economists earn
Loans to SMEs should have lower capital requirements – BdF paper
More SME lending boosts banks’ portfolio diversity and decreases systemic risk exposure, paper finds
Maltese ex-finance minister becomes governor despite political dispute
Opposition alleges Edward Scicluna is “bad choice” but Labour government dismisses claims
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
ECB adds crucial tweak that could limit PEPP purchases
Hawkish governors secured wording that bond-buying allocation “need not be used in full”
MAS strengthens fintech co-operation with Ghana and Hungary
Agreements will help connect SMEs and foster discussions around regulation and emerging trends
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends
ECB announces major boost to pandemic programmes
New TLTRO programme will offer banks financing at negative rates to maintain consumer lending