International
Brazilian governor outlines climate reporting rules
Campos Neto says Brazil’s banks must file climate risk reports from June 2023
BIS paper flags ‘notable gaps’ in CBDC research
Policy work on cross-border CBDCs is “marching beyond the research frontier”, say economists
EU should demand banks set climate transition plans – Elderson
Officials acknowledge climate risk has become central topic, but say most institutions fail to meet supervisory requirements
Central bank signals could be impacting natural rate – BIS paper
“Learning process” could explain decline in interest rates without drop in productivity, authors say
BIS board reappoints Carstens as general manager
Luiz Pereira da Silva gets new term as deputy, and Stefan Ingves becomes vice-chair
NGFS’s climate stress tests bolstered by new macroeconomic modelling
NiGem model will help central banks better understand economic transmission channels
Global CBDC network could save multinationals nearly $100bn
Payments system could eliminate delays and need for multiple correspondent banks
Carney says over $130 trillion of capital now pledged to net zero
But rich countries admit they have fallen short of net zero financing goals
Riksbank studies link between equity prices and interest rates
Measures that do not directly account for interest rates can better explain historical prices
Mobile money was ‘crucial’ for low-income countries during the pandemic – IMF
Data shows mobile and internet banking transactions grew for all income levels
‘Say what?’ Trust in central bank communications
Central banks are changing how they communicate with different audiences, but judging the success of these communication efforts is difficult
Centralised climate change teams crucial, central bankers say
As COP26 begins, central banks are focusing on improving governance of their climate actions
Central banks must address personal data risks, says BIS paper
Regulators must upgrade response to risks caused by tech firms’ use of data
People: IMF deputy managing director to leave
Mitsuhiro Furusawa to depart IMF; Brazil and Costa Rica to appoint board members; and more
Interoperability of stablecoins
Central bank reserves could be a better option for backing stablecoins than Treasuries, say Manmohan Singh, Caitlin Long and Charles Kahn
People: BoE and Sama governors appointed to chair FSB committees
IMF’s Georgieva nominates new CIO; former El Salvador governor dies
Reserve Benchmarks 2021 report – in search of liquidity
Insights on portfolio management during the Covid-19 shock, staff and technology adaptation during the crisis, and the rise of green bonds as a reserve asset
Central banks sign up to Fed’s Fima facility
Reported usage is marginal, but backstop is highly valued by reserve managers
Central bank communications ‘after’ Covid
From crisis responses to coping with sudden digitisation, Covid-19 forced central bank comms teams to innovate fast. How much of it will stick?
Reserve coverage remains at adequate levels despite Covid
FX interventions to tackle capital outflows have not meaningfully reduced portfolios globally
BIS launches third green bond fund in Asia
Asian Development Bank and BIS aim to foster issuance of safe green assets
Podcast: Payment networks of the future
Liz Oakes (Mastercard) and Somya Patnaik (ACI Worldwide) discuss how central banks can ensure consumers get the most out of new payment infrastructure
Gita Gopinath to leave IMF
Fund’s first female chief economist is set to return to Harvard