International
Basel Committee proposes illustrative prudential framework for crypto assets
Holdings of crypto assets would be split between banking book and trading book depending on exposure risks
Podcast: Central Banking launches Tech Talk series
In the inaugural episode, Rachael King and Adam Csabay cast a critical eye over some of the biggest fintech developments of 2019
BIS paper examines economic impact of macro-pru
Shocks are similar to monetary policy but transmission differs, researchers say
People: BIS picks Lamfalussy fellow; Iceland appoints research director
BIS names 2020 fellow; Icelandic central bank promotes economist; Jekaterina Govina becomes director of supervision in Lithuania
Tribute to a great man
Peter Bakstansky highlights Paul Volcker’s legacy of probity and integrity
Forex market growing, but more risky – BIS review
Reduced reliance on PvP and heightened fragmentation threaten market resilience
BoE climate stress tests results to be shared with NGFS
Carney says tests will highlight firms that are not implementing appropriate policies
Cloud throws up new financial stability risks – FSB
Reliance on third-party cloud platforms creates risks, especially given market power of providers
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