Central Banking Journal
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
BIS chief speaks about policy trade-offs at a critical time, tech collaboration, tackling NBFIs and the dearth of ‘green’ assets
Book notes: Robert Triffin, by Ivo Maes with Ilaria Pasotti
Triffin’s story is well told by Maes, whose extensive personal and academic research shines through
Greening the central bank balance sheet, or not?
Paul Fisher, fellow at the Cambridge Institute for Sustainability Leadership and senior adviser for Oliver Wyman, discusses how central banks can act to contribute to mitigating and adapting to climate change, and identifies some worthwhile interventions.
Book notes: How boards work, by Dambisa Moyo
Moyo offers insights into the skills required to be a valued board director
Some philosophical questions about the future of central banking
Kenneth Rogoff weighs up the many challenges facing central banks in the years ahead
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
Is the ECB’s strategy review enough?
Reformed framework may allow greater stimulus to tackle weak inflation expectations, but Governing Council is already divided
DCash: motivations, challenges, and lessons from the first monetary union CBDC pilot
Having worked on its Digital Currency Management System since 2016, Bitt has launched the first synthetic CBDC in Barbados, followed by another first in the Eastern Caribbean Currency Union in March this year, with more ahead
From Covid‑19 recovery to a greener economy
BNP Paribas asks, in a world challenged by the Covid‑19 pandemic and empowered by recovery from it, what’s next for the central banking sector? Also discussing how banks and central banks can collaborate to encourage sustainable growth and build a better…
Fixing market-based finance: duct tape or deep reform?
Deeper reforms may be needed to avoid stretching central banks’ balance sheets to breaking point
The renminbi’s rise to prominence: focus report 2021
Central Banking explores the impact the addition of the renminbi to the SDR basket has had on internationalising the Chinese currency; central bank reserve managers share their views on including the renminbi in their portfolios; and we take a look at…
Book notes: Fintech regulation in China, by Robin Hui Huang
Book includes meticulous exploration of detailed regulations across Chinese fintech sector, but risks missing bigger picture
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
Book notes: The pay off, by Gottfried Leibbrandt and Natasha de Terán
A timely introduction to and accessible survey of payment system developments
An assessment of the ECB’s strategy review
Aspects of the framework raise challenges for implementation and credibility, while climate change inclusion may politicise the institution
The renminbi in focus: reserve managers see promise
Reserve managers see potential in the renminbi and expect the International Monetary Fund to increase its weighting at the next special drawing rights reassessment
The renminbi’s inclusion in the SDR adds impetus to its internationalisation
Bank of China (Hong Kong) highlights the importance of opening up the onshore renminbi (RMB) foreign exchange market and improving the development of offshore RMB FX markets
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments, to support a large allocation of ‘official’ IMF SDRs
Surveillance and suptech innovation in central banks
Tony Sio, Nasdaq’s head of marketplace regulatory technology, explains the role market surveillance tools play in central banks’ suptech portfolios.
Technology is the best bet in fighting money laundering
Danish FSA chief Jesper Berg says there is a need to think ‘outside the box’ on corrupt money
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Somalia’s governor on rebuilding its central bank
Governor Abdullahi discusses payments systems and reviving Somalia’s war-damaged economy
Three ways to bolster flawed AML/CFT in the EU
EU must address significant weaknesses if it wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva
BIS’s Luiz Pereira on tackling the climate crisis
Deputy general manager highlights the challenge posed by radical uncertainty, the benefits of carbon budgeting, and the case for acting now