Sweden
Legal certainty: the Achilles’ heel for CBDCs?
Many central banks lack legal certainty when it comes to issuing digital currencies, despite all the research and trials. Isn’t it time to get the lawyers involved?
Swedish financial regulator to become next Riksbank governor
Erik Thedéen will replace Stefan Ingves as Riksbank’s head
Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
People: Skingsley to head BIS Innovation Hub
New deputy governor in Philippines; BIS names new Asia-Pacific rep; and more
Riksbank was right to use negative rates, say former central bankers
As ECB loosened policy, Swedish central bank lacked any credible alternative, Flug and Honohan conclude
Riksbank launches 24/7 instant settlement system
Rix-Inst operates on same technology as ECB’s Tips system
People: Swiss vice-chair to take office in August
Board member appointed in Guatemala; new external MPC member in Ghana; and more
Riksbank tightens policy for first time since pandemic's onset
Swedish central bank surprised analysts by raising rates and reducing asset reinvestments
Research provides deeper look into Riksbank’s policy decisions
Swedish central bank developed a flexible, faster deliberation process when dealing with pandemic
Technology services – regulatory: Regnology
The regtech/suptech provider continues to innovate, securing major new contracts with central banks and regulators
Riksbank may need to raise interest rates earlier – Anna Breman
Deputy governor warns inflation is likely to continue to rise due to Russia’s invasion of Ukraine
ECB supervision and the state of the eurozone’s banks
ECB banking supervision has passed the first stage of the Covid-19 test. But many challenges remain, including banks’ internal governance and data processing, excessive leveraged lending in some segments, and a lack of progress towards a more competitive…
Riksbank activates wartime deployment for permanent staff
Swedish central bank aims to maintain key operations in an “increased level of preparedness”
Riksbank’s pandemic QE eased financing conditions, says research
Swedish central bank’s purchases boosted equities, depreciated krona and cut bond yields
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
Markus Brunnermeier on the need for CBDCs
The Princeton academic co-authored a paper for the European Parliament exploring the potential pitfalls of CBDCs. But they are still needed, he says
Riksbank minutes confirm board division on normalisation
Three out of six board members voted to accelerate end of net asset purchases
Frequency of price changes strongly correlated to inflation, says Riksbank
The size of price increases remained stable in Sweden from 2010–18
Sweden inflation hits highest level in 28 years
Rise likely to boost hawkish positions at next Riksbank policy meeting on February 10
People: Brazil’s Campos Neto comes down with Covid
Acting governor in Lesotho; Auer to head Eurosystem Innovation Hub; and more
Swedish central bank announces end to net asset purchases
Sveriges Riksbank forecasts it will not raise rates until 2024, saying inflation rise is temporary
Swedish inflation rose further in October
CPIF increased year on year by 3.1% last month; Riksbank expected to reduce balance sheet
Advanced economies more likely to outsource counterfeit detection
Emerging market economies more likely to outsource distribution
Riksbank opens review of board members’ stock holdings
Investigation will assess whether officials violated “rules of conduct”