International
Climate initiative: HSBC
The UK bank is working closely with central banks and other official institutions to support the transition towards a greener global system
Fintech use shows international gender gap – BIS paper
Women use fintech less than men but reasons for this are unclear, survey finds
Big data in central banks 2020–21 report: shifting to centre stage
The Covid-19 shock made big data a key input into policy at a time when data governance appears to be improving and central banks are embracing cloud technology
BIS paper proposes solution to ‘runnable brown assets’
Central bank liquidity backstop could boost stability and encourage firms to go green, authors say
Cyber attacks on finance increased sharply during pandemic – BIS
Increased use of cloud could increase firms’ vulnerability, researchers warn
The untapped potential of transaction data
Covid-19 has highlighted the need for central banks to have more timely information, questioning whether high-frequency indicators are being used to their full potential.
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