International
New ‘currency’ aims to tackle failings of its predecessors
Saga sits somewhere between a stablecoin and a crypto asset – and has been designed by a team that includes former central bankers
Paul Volcker, 1927–2019
The Fed chair made his name battling inflation, and left his mark on independence and post-crisis financial regulations
Data sharing could curb big tech dominance – FSB
Ensuring all financial market incumbents have access to same data could level the playing field
Banks’ repo muscles may have ‘atrophied’ – Borio
BIS report highlights impact on market functioning from Fed and ECB easing action
Carstens: Money without central banks is doomed to fail
Many “architectures” are possible but they must be built on a foundation of trust, BIS chief says; improving “two-tier” system may be best approach
Global climate cycles create varied growth challenges – paper
Changing climate has different impact on growth depending on country’s normal climate, researchers find
IMF chief calls for climate-related stress tests
Fund will work more closely with central banks to tackle climate risks, Kristalina Georgieva says
Book notes: The Japanese central banking system compared with its European and American counterparts, by Yoshiharu Oritani
The book has “no equal” in reviewing new microeconomic theory for central banking
Global house price growth slows, but China still surging
BIS figures show broad slowdown in growth, though prices are still rising fast in some places
The pursuit of ‘fintecgrity’
Digital currencies, distributed ledgers and deep learning are set to transform the financial economy. How can regulators maintain integrity at the confluence of finance and technology?
Tighter policy in large economies squeezes cross-border banking – paper
US monetary policy shocks play major role in bilateral bank lending – Bank of Spain paper
Weak data on sustainable assets threatens financial stability – Sarb
Industries vulnerability to climate-related risk is unknown, South African central bank says
Facing up to the tech challenge
Central banks get a wake-up call from libra
Climate prudential policies could ‘backfire’, IMF economists warn
Lack of international standards could result in ‘greenwashing’ and increased financial stability risks, economists warn
‘Sectoral’ counter-cyclical buffer could boost resilience, says Basel Committee
Targeted tool would have a narrower impact on segments of the market
De La Rue faces uncertain future as profits collapse
Profits plummet 87% as firm scrambles to cut costs
IMF paying closer attention to central bank independence, research shows
Central banks must “step up their game” on improving transparency, Tobias Adrian writes
Canada’s Poloz on monetary policy limits, transparency and cyber recovery
Bank of Canada governor Stephen Poloz speaks about stagflation risks from trade wars, the importance of market signals, Canada’s CBDC plans and why he is not a fan of minutes
Legal reforms drive growth for middle-income states – research
Growth in financial sectors does not mean increase in economic growth - Bank of Spain paper
Regulators and firms confront problems of ‘open banking’
Basel Committee report says challenging trade-off exists between privacy, security and efficiency
FSB’s G-Sib list increases by one
One joins the list and one major bank drops to a lower bucket
In-depth: have central banks worsened the secular slowdown?
IMF economist Bas Bakker shares his argument that central banks have misdiagnosed falling growth and long-run rates. He and several other economists are now calling for a rethink
Climate risks may be uninsurable – DNB’s Elderson
NGFS chairman calls on the implementation of a carbon tax to help mitigate these risks
US-China trade deal could damage some countries’ trade flows – IMF paper
Eurozone could face loss of trade from between $61 billion to $84 billion, researchers find