Central Banking Journal
Book notes: Floored, by George Selgin
Michael Reddell remains unconvinced the Fed’s introduction of the IOR prolonged the recession, but credits Selgin’s argument the IOR policy made the central bank a more powerful credit lender
Book notes: Finance and philosophy, by Alex J Pollock
Readable and useful book that provides much food for thought, and should be read widely by economists and policy-makers
Book notes: Where economics went wrong, by David Colander and Craig Freedman
Chicago economics’ gladiatorial debating style has cost the discipline dearly, the authors argue
Climate change: a new challenge for financial stability?
What is the role of central banks when it comes to climate change risks?
The role of e-cash in China
E-cash improves convenience and security while cutting cash handling fees
The Brexit conundrum
Bank of England has only limited room to respond to hard Brexit
Renminbi reserves are still relatively small
Renminbi investments still account for much smaller fraction of global forex reserves than China’s significance in world economy would merit
Lifetime achievement: Zhou Xiaochuan
Former PBoC governor stands out for his high levels of integrity, intellectual rigour and bold reforms
Governor of the year: Karnit Flug
Bank of Israel’s first female governor delivered some hard-fought reforms during her time in office
Central bank of the year: Monetary Authority of Singapore
Fintech pioneer has strong monetary policy, financial stability and supervisory record
Economics in central banking: Greg Kaplan, Benjamin Moll and Gianluca Violante
‘Monetary policy according to Hank’ boosts realism of core economic models
Website of the year: Sveriges Riksbank
Redesign has resulted in users engaging with more content
Risk manager: Saudi Arabian Monetary Authority
Multi-year overhaul of Saudi central bank’s risk architecture has come to fruition
Risk management technology: Vermeg
Dutch company won high-profile tender for Eurosystem Collateral Management System
Professional services initiative: World Gold Council
Trade body developed guidance to bring greater consistency to monetary gold accounting practices
Advisory services: Deloitte
Central bank footprint includes new projects on cyber resilience in Canada, fintech in Saudi Arabia, DLT in Hong Kong
Treasury systems initiative: Ion Treasury
Ion’s purchase of Openlink boosted central bank business, with ECB being a ‘jewel in its crown’
Data services: Vizor Software
Irish tech company has rolled out major updates to pave way for more agile supervision
Book notes: Democratizing Money?, by Beat Weber
This is a timely book about ‘how money really works’
Outstanding contribution for capacity building: Warren Coats
For extraordinary work with more than 20 central banks in highly challenging circumstances
Transparency: National Bank of Ukraine
Ukrainian central bank has made strong progress in improving transparency during challenging year
Payments and market infrastructure development: Reserve Bank of Australia
RBA has spearheaded development of upgraded retail payment system that includes real-time settlement
Currency manager: Bank of Israel
Israeli central bank is revolutionising management of country’s banknotes, while maintaining security
Currency services: De La Rue
UK-based banknote provider secured new clients and transformed focus towards technology in 2018