International
Data overhaul needed to enhance insolvency frameworks – IMF
Paper highlights the importance of data in analysing efficiency of current resolution policies
Kristin Forbes urges academics to focus on macro-prudential policy
Our understanding of the tools and ability to spot new risks remain limited, professor says
Non-banks continue rise as banks lose market share
Non-bank financial firms hit a record high, at nearly half of global financial assets, FSB finds; leveraged lending increasingly an area of focus
‘Global inflation gap’ points to slack across advanced economies – paper
Authors find no evidence that inflation is “on the brink of surging ahead”
Adverse environment forces banknote firm Arjowiggins Security to close
Paper specialist forced to liquidate UK and French holdings despite restructuring
Countries must counter money-laundering through fintech – IMF official
IMF’s Adrian calls for regional co-operation and consultation on new payment systems
Central bank gold purchases soar to highest level since 1971
Russia, Turkey and Kazakhstan accumulated the most gold in 2018
People: Mexico appoints two new deputy governors
Federal Reserve appoints new research director and IADB makes Chilean official chief economist
Professional services initiative: World Gold Council
Having identified seven different ways of accounting for monetary gold among 70 central banks, the WGC developed guidance to bring greater consistency to accounting practices
Treasury systems initiative: Ion Treasury
Ion’s acquisition of Openlink in 2018 has boosted its central bank and agency clients to 65, with a new ECB contract being a ‘jewel in its crown’
Only Fed could respond to fresh downturn, Axel Weber says
Most central banks have no room for manoeuvre, says former Bundesbank president
Financial inclusion initiative: Federal Reserve Bank of St Louis
Improvements in the bank’s financial inclusion initiatives are helping tackle the polarisation of economic education in the US and across the globe
Financial market infrastructure services: ParFX
The foreign exchange platform has pioneered a market-driven effort to tackle concerns about poor market behaviour and distrust in the $5 trillion-a-day market
IMF expects global growth to slow further in 2019
“Significantly higher” and “increasingly intertwined” risks weigh on global growth, Lagarde says
Brexit unlikely to affect sterling’s reserve currency status
No-deal scenario could put major downward pressure on the currency
Crypto assets hobbled by proof of work, finds BIS economist
Raphael Auer says bitcoin payments could take “nearly a year” to become truly final
Asset manager of the year: State Street Global Advisors
The US financial group used its global presence, and equity and fixed income expertise, to expand its central bank client base and assets under management in 2018
Global markets award: HSBC
HSBC’s global reach and expertise in emerging Asian markets has helped its long-term central bank clients develop more sophisticated reserve management strategies and move into new markets
Innovation in reserve management: BNP Paribas Asset Management
The asset manager developed new fixed income investment strategies in 2018 that have delivered strong returns and diversification for clients, while also offering practical training support
Custody initiative of the year: Citi
The US financial group used its global presence and technological edge in 2018 to deepen existing relations and obtain new mandates
Growth keeping global debt-to-GDP just below all-time high – IIF
Latest monitoring report puts debt at three times global GDP, with some countries especially vulnerable
Basel Committee softens impact of revised market risk framework
Final framework cuts expected increase in average capital requirements almost in half; committee may consider some further rule-making in 2019
Supervisory lessons: resolution is a ‘dirty business’
Former Bank of Spain head of supervision Aristóbulo de Juan reveals his principles for resolving problem banks in the final article of a four-part series
Individual bank diversification can increase systemic risk, researchers find
Banks that are not systemically important can be ‘systemic as a herd’, authors say