Central Banking Journal
Book notes: Edge of chaos, by Dambisa Moyo
John Chown applauds Moyo’s analysis of how the current democratic framework is failing
Time for Central Bank of Argentina independence
Monetary financing has fallen sharply, but must now end
Federico Sturzenegger on Argentina’s efforts to create a credible central bank
BCRA governor speaks about market panic, IMF bailout, and ending high inflation and monetary financing
Have central banks created a ‘debt trap’? No, but ...
Tougher regulation has helped ensure extraordinary monetary policy has not caused dangerous rise in private debt
Regulatory efficiency or rollback?
Team USA’s new clarion call for regulatory “efficiency” comes with a worrying undertow
The toxicology of post-crisis shadow banking
Did Mark Carney tempt fate when he declared most toxic forms of shadow banking “no longer represent a global stability risk”?
Book notes: I do what I do, by Raghuram Rajan
This collection of speeches and commentary sheds light on how the ‘rockstar’ central banker operated, but it reveals little in the more controversial areas of Rajan’s governorship
The Bank of Italy’s approach to risk-based budgeting
Crisis raised challenges for treating both the sources of risk and risk-bearing capacity using financial and accounting budgeting techniques
Kganyago on central bank independence and future plans for the IMFC
Sarb governor talks about fight for independence and South Africa’s new "constitutionalist" president
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed in natural disasters, central banks’ contingency plans spring into action
Book notes: The paradox of vulnerability, by John Campbell and John Hall
Quality of national institutions vital to handling financial crises, say authors
Former governor: Life lessons from Taiwan
Perng Fai-nan shares key insights upon accepting Central Banking’s Lifetime achievement award
Book notes: A diary of the euro crisis in Cyprus
Panicos Demetriades’s book tells the inside story of the Cypriot crisis
Book notes: Respectable banking, by Anthony Hotson
Author’s sensible goal of “respectable banking” is admirable, but recommendations would not all help to achieve this
Canada’s polymer versus paper substrate cycle
Empirical evidence indicates switch to polymer has improved lifespan
Book notes: How global currencies work, by Barry Eichengreen, Arnaud Mehl and Livia Chiţu
A comprehensive introduction to the history of global reserve currencies
The winners of the 2018 Central Banking Awards
Bank of Canada, Lesetja Kganyago and Perng Fai-nan among those that stood out
Reserve manager of the year: Bank of Korea
South Korean central bank has revamped its reserve operations
A changing of the guard
Risks emerge amid Fed and PBoC leadership changes
Saudi Arabia’s Alkholifey on economic restructuring, reserves and cyber security
Head of Sama discusses major changes being implemented in Saudi Arabia
Implementing a holistic and dynamic risk budget
New policy-risk approach led to reassessment of investment exposures and how they are rebalanced
A dangerous unknown: interest rate risk in the financial system
Urgent action needed to tackle danger; current macro-pru tools still inadequate
Governor of the year: Lesetja Kganyago
Kganyago has defended and enhanced Sarb’s reputation as independent and well-governed institution against all threats
Global custodian of the year: BNY Mellon
Clients point to improved tech functionality and training services