International
Yellen backs proposal for SDR issuance
G20 calls on IMF to develop proposal for “general allocation of SDRs”
Corporate Services Benchmarks 2021 report – trends in financial reporting and administration
Insights on staffing and salaries, technological automation, data security, rule compliance, gender equality and green office spaces in accounting, audit, HR and administration
Rich countries must aid poor over Covid-19: Georgieva
IMF chief warns of future financial instability and calls for major aid flows to developing world
Will Treasury yields keep on rising?
Falling price of US bonds may force reserve managers to change duration to preserve capital
Stablecoin issuer agrees to settle lawsuit over ‘deceptive’ trading practices
New York attorney general accuses Tether of lying about the backing of its crypto asset with US dollars
Private sector partnerships could be the key to CBDC survival – IMF research
Central banks may find it “challenging” to keep up with pace of technological change
Carney takes job on Stripe board
Former BoE governor adds role at fintech firm to growing portfolio of positions
Book notes: Asset management at central banks and monetary authorities, edited by Jacob Bjorheim
This excellent book fills a critical gap existing since IMF guidelines on asset management were revised
Podcast: the legal implications of CBDC
The majority of central banks cannot issue CBDCs to the public under current frameworks
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
Largest banks’ funding advantages grew in pandemic – research
Biggest banks’ perceived risk advantage grew after onset of Covid-19, researcher finds
The changing data landscape: Part 2
Central Banking speaks to Philip Abradu-Otoo, Juan José Ospina and Howard Chang about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
Book notes: The political economy of the special relationship, by Jeremy Green
Unsatisfactory story about the decline and resurgence of the UK’s importance in the global financial system
BIS paper tests impact of macro-pru on non-banks
Domestic and foreign prudential policies have opposite effects on non-bank share, authors find
Measuring the exceptional speed and scope of Covid-19 monetary policy
Policy actions during the first wave of the pandemic were extraordinary for their intensity, scope and speed. Other patterns also emerge on closer inspection
Only climate policy risk priced in US equity markets – research
US political debate is only “wake-up call” for investors, who seem to disregard physical risks
IMF to update debt sustainability framework
Reforms aim to improve framework’s predictive capacity and transparency, IMF says
Epidemics cause delayed political unrest – IMF paper
Infectious disease outbreaks lead to upheaval after health crisis has passed, researchers say
National statistical agencies must measure informal economy – IMF
Fund outlines new framework for informal economy consistent with GDP methodology
Ulrich Bindseil on the launch of the digital euro
The ECB’s director-general for market infrastructure and payments speaks about the functionality, tiering approaches, privacy policies, ledger technology and ecosystem impact of the eurozone's planned CBDC
Carstens questions wisdom of fully anonymous CBDC
Idea of complete anonymity in digital systems is a “chimera”, BIS chief says
More central banks plan experimental CBDCs – BIS
Emerging market central banks in particular are focusing on retail CBDCs, report says
IMF warns of possible market correction
Withdrawal of central bank support might trigger shock, say Tobias Adrian and Fabio Natalucci
Carstens calls for ‘comprehensive’ oversight of big tech
BIS chief highlights “data-network-activities loop” driving big tech growth