International
Central bank balance sheets: is there an optimal structure?
Establishing guidelines is challenging, although there are many reasons why CBBSes are heterogeneous
Nature risk poses ‘major data and modelling challenges’ – FSB
Stocktake finds supervisors at varied stages of analysing biodiversity loss and related risks
Ukraine’s governor on central banking as war endures
The NBU’s Andriy Pyshnyy speaks about the need for investment and reform amid labour shortages, securing war-risk insurance and Ukrainian funding from Russia’s frozen assets
Basel Committee approves new stablecoin exposure framework
Details on new crypto asset and IRRBB rules, plus third-party risk consultation due out this month
Banque de France and HKMA to conduct cross-border CBDC test
HKMA is the first non-European central bank to join the Eurosystem’s wholesale DLT settlement trials
Malaysia’s Rasheed expects a “bumpy road” for EM currencies
Governor Abdul Rasheed Ghaffour says BNM will intervene if needed ahead of future Fed cut; rules out capital controls but has encouraged institutions to repatriate earnings
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
BIS profit rises as balance sheet grows
Institution close to completing five-year strategic plan, as deposits hit record high
Monetary policy could face ‘tougher tests’ ahead, BIS warns
Soft landing “in sight”, but pricing imbalances, fragile fiscal policy and financial vulnerabilities loom
Payments Benchmarks 2024 – model banks analysis
Breakdowns of key data from the payments benchmark shed light on how the function is governed
Economists explore 200 years of data on sovereign defaults
“Serial restructurings” are on the rise, with investors taking an average haircut of 45%
Simpler models can capture dynamics of Hank framework – NBER paper
Heterogeneity can be “irrelevant” to determining output in some situations, authors find
Expanded IMF mandate presents ‘serious’ challenges, review finds
Independent review finds staff have been overstretched by work on climate, gender and technology
Book notes: The wealth of a nation, by George Hodgson
This book provides a deep dive into the economic and institutional transformations that supported the rise of English capitalism
Central banks continue climate action despite political pressure
Reserve managers are expanding green investments, as some incorporate “double materiality”
Non-banks in RTGSs: greater efficiency or more risk?
Policy-makers and practitioners from central banks in Brazil, Hungary, Israel, Romania, Rwanda and the US share their perspectives
Four central banks commit to responsible artisanal gold principles
Colombia, Ecuador, Mongolia and the Philippines commit to principles aimed at guiding domestic small-scale, gold-buying schemes
Ransomware payments can be necessary, say panellists
Paying off hackers may be only way to safeguard financial stability, despite risks
Most central banks resistant to crypto in retail payments
Just six central banks are open to retail payments being facilitated by digital assets like bitcoin