International
China hits back at criticism of yuan policy
PBoC denies devaluation claims, says other nations are responsible for their declining competitiveness
People: Sarb appoints former World Bank economist to MPC
Plus appointments in Singapore and the Seychelles
Rehn says European safe asset ‘deserves further examination’
ESRB vice-chair says jointly issued bond could help fund defence and energy, but design is the hurdle
Commercial value must drive digital asset adoption – Mills
BoE’s executive director for FMI says bank will not pick winning token, ledger or business model
Permanent FRTB reforms seen as vital for IMA adoption
Temporary relief granted in June has done little to encourage internal model use in Europe
RBA says stability risks mainly come from abroad
Bank’s finstab report says financial system resilient but points to AI and geopolitical concerns
Supervisors must co-operate internationally – Elderson
ECB board member warns emerging risks to stability demand joint response from regulators
Modernisation can ‘free supervisors to think’ – Thedéen
Basel Committee chair says multidisciplinary teams are necessary to track ‘ever-changing’ system
Goodhart and Pradhan on the end of monetary independence
The unanchored central banker authors speak about how ageing populations, soaring healthcare costs and rising fiscal deficits will force central bankers to compromise on inflation targets and bail out indebted governments
Stablecoins issuers’ debt wish not enough to meet US needs – study
SF Fed authors say demand for Treasuries will be much smaller than government’s requirements
ECB should become global lender of last resort – report
Academics put forward policy recommendations to further internationalise euro
Stress-testing Brazil’s credit co-operative safety net
Rapid growth in credit co-operatives has made a public test of FGCoop’s liquidity, replenishment and resolution capacity necessary, argues Gustavo Pessoa
Mamerto Tangonan on the Philippines’ glocal digital ecosystem
Deputy governor shares insights on the nexus of wCBDC and digital sovereign bonds, multilateral payments governance and 'smart' global trade
ECB and BCB to explore linking Tips and Pix
Feasibility assessment could take a year or more before link is approved
Schnabel to join IMF as financial counsellor
ECB official to step down early, creating another opening at the top of the bank
Washington is guarding against the wrong dollar threat
Brics nations did not launch a common currency in New Delhi. The payment networks they are building may matter more
US rates surge sparks new wave of FX net investment hedging
Corporates pile into currency hedges to protect value of foreign assets and capture positive carry
Pacific series: Climate is top issue for Fiji’s governor Ariff Ali
Head of central bank speaks about climate, inclusion, modernisation and vulnerability ahead of his likely retirement next year, following 30 years at institution
Strait of Hormuz is top barometer of supply stress – BIS study
Impact of traffic disruption through other waterways neither as consistent nor as global
Regulatory risk aversion contributed to SVB failure – Bowman
Supervisors ‘knew, or should have known’ about risks a year before bank’s collapse, says Fed vice-chair
Czech Republic extends pause while Moldova raises rates
CNB leaves door open to rate rise while Moldova presses on with third hike since May