International
Nexus will connect at least three Asian countries by 2027 – CEO
Company expects to announce winning bidder for contract to build payments platform by year’s end
People: Former RBI governor appointed to IMF
Plus: Blyth replaces Bowe on BoE’s FPC and WGC teams up with Elton John
Lagarde says US-EU deal lowered uncertainty ‘considerably’
ECB president voices concern over Fed independence, French debt
A not-so-stable Genius Act?
New stablecoin rules raise monetary sovereignty and financial stability concerns
Bank notes: July to September 2025
A round-up of news and salient issues that have affected central bankers in the past three months
Ex-BIS research head backs tokenised deposits over stablecoins
Tokenisation is the “truly transformative innovation”, argue Cecchetti and Schoenholtz
BIS’s Hernández de Cos tells central banks to be realistic
Policy-makers should make clear what they can and cannot do, says new general manager
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
People: July to September 2025
A round-up of central bankers in the news and on the move during the past three months
Neutral counter-cyclical capital buffer averages less than 1%
But average neutral level of CCyB varies by economic groupings
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Towards a new monetary policy framework for the AI age
AI may render the traditional monetary policy toolkit less effective and the familiar rules of engagement obsolete, argues Biagio Bossone
Climate risks still on the fringe of monetary policy in Asia
Notwithstanding efforts by the PBoC and BoJ, there is still a need to observe persistent and measurable impacts on inflation and output before climate change truly influences interest rate policy, argues Sayuri Shirai
The cost of inaction on wholesale CBDCs
A gap exists between demand in capital markets and most central banks’ research priorities as evolving risks accrue
Bailey, the IMF and the fundamental asymmetry problem
The IMF must address sovereign asymmetry and transform surveillance into a tool for mutual accountability, argues Biagio Bossone
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Only 5% of central banks reveal individual bank stress-test results
Respondents share details of how stress scenarios are developed
Working group minutes: seeking better interactions on social media
Building engagement is a challenge and brings risks for central bankers
Trump’s tariffs and the emerging market economies
Steve Kamin says EMEs are likely to escape the worst outcomes from capricious and chaotic trade policy
The Bank of England’s four pillars for a new CCP rule book
Executive director urges feedback on margin transparency, broader collateral and aiding innovation
The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
Will the UK’s FRTB time warp turn into a horror show?
UK regulator’s proposed transition year in 2027 could double banks’ implementation work
Obituary: Süreyya Serdengeçti, 1952–2025
Governor of Turkey’s central bank whose policies brought inflation down from 75% to single-digit figures
European Commission already preparing next FRTB move
As EC runs out powers to delay rules again, proposal for temporary capital relief is on the agenda