International
Behind the scenes of the Bundesbank’s capacity-building programme
A multi-year effort has helped shore up expertise at West Balkan central banks. Will African and former-CIS institutions be equally responsive to Eurosystem technical assistance?
Official lending replaces private capital during crises – paper
Public creditors charge below-market interest rates on loans to sovereigns in crises, NBER study finds
Economists use AI to expand data on cross-border flow limits
IMF paper draws lessons from 40,000 policy moves designed to control financial flows
Book notes: The art of monetary policy, by Kristin Forbes
The message that effective monetary policy-making requires judgement, flexibility and realism alongside technical expertise is both persuasive and highly relevant
High-value notes: default money for criminals?
Some experts say the notes are a boon for felons, and that central banks should stop issuing them
Lane and Waller: research mix is extremely valuable
Central banks’ short- and long-term studies both benefit policy-making, Fed and ECB officials say
Reserves shifting from deposits to securities – paper
Pattern may be evidence of ‘mercantilist’ motivation for excess reserve accumulation
Reinventing reserve management: governance, risk and agility in a fragmented global financial system
Bank Indonesia’s new total‑portfolio approach tightens governance, risk controls and implementation speed in volatile global markets, writes reserves head Rahmatullah Sjamsudin
Euroclear rejects $254bn payment order in Bank of Russia case
Moscow court’s ruling in favour of central bank ‘completely without merit’, says Belgian firm
Lagarde at G7 meeting: ‘I always worry’ about bond markets
Leaders meet to discuss Middle East conflict, global imbalances
The challenges facing Fed chair Kevin Warsh
New chair has pledged sweeping change, but can he keep Trump – and the FOMC – onside?
European Commission plans permanent changes to FRTB
EU legislator will start work on new rules later this year to ensure level playing field with US
People: DNB governor to chair NGFS
Plus: Sarb appoints new chief economist and Belgium’s queen visits CBRT in Istanbul
Leading central bankers defend frameworks amid ‘polyshock’
Panellists at SNB-IMF event say policy-makers should remain cautious in face of uncertainty
Dollar’s centrality in FX markets makes it more volatile – study
Greenback’s use as ‘vehicle currency’ makes it more sensitive to external shocks, economists say
Working group minutes: guarding financial independence
Dynamic capital may help but tailoring accounting frameworks to central banks is still challenging
Busting Mythos: how Europe is responding to the latest AI model
Experts emphasise heightened importance of focusing on basics
BIS announces board changes
Panetta elected chair, plus new roles for heads of RBA, BCB, BoJ and BoK
AI, geopolitics, crypto among top AML worries – EU report
Boundary between fraud and money laundering ‘increasingly blurred’, says Amla
Bulgarian lessons from entering the eurozone
Sofia’s uneasy membership in the currency bloc, five months in
People: Macron nominates ex-chief of staff to take over at BdF
Plus: BoJ appoints new head of international affairs, and MNB deputy joins EBA board
UK needs closer EU ties in multipolar world – BoE’s Bailey
Governor urges greater support for multilateral institutions to solve growing global imbalances
Geopolitical shifts and the evolution of reserve management: adapting to a new reality
How great power rivalry affects central bank portfolios by the Central Bank of Brazil’s Ricardo da Costa Martinelli
Rising global imbalances will be difficult to smooth out – panel
BoE’s Alan Taylor says imbalances bring financial stability risks