Central Banking Journal
Should more attention be paid to house prices?
The Czech National Bank’s experiences offer insights into using a broader inflation measure with a greater weight on housing to address both monetary and macro-prudential policy requirements
Book notes: Gaining Currency, by Eswar Prasad
A detailed study into the renminbi’s journey to becoming the reserve currency, taking a close look at the hurdles it has overcome and what obstacles remain in its way to competing on the global stage
A CCP is a CCP is a CCP
The challenge of establishing standards for CCP risk management and resilience is even more difficult when policymakers view CCPs through the lens of banking regulation
Book notes: Bankers, Bureaucrats and Central Bank Politics, by Christopher Adolph
An interesting, if slightly dated, analysis of those who made monetary policy decisions in advanced economies between 1950–2001, attempting to understand whether personal background influences decision-making
Book notes: Competition and Stability in Banking, by Xavier Vives
Xavier Vives has written a fascinating book that highlights many important issues in banking regulation. But there are some flaws in his argument
Basel action needed before ‘regulatory cycle’ turns
Failure to reach a deal raises the risk of more entrenched protectionist positions
Book notes: The Nobel Factor, by Avner Offer and Gabriel Söderberg
The authors offer some illuminating points on the politics behind the Nobel Prize in Economic Sciences, but fail to sufficiently challenge Sweden's social democracy, writes Graham Bannock
Lifetime achievement award: Donald Kohn
Donald Kohn’s objectivity, intelligence, humour, tireless energy and iron determination to get the job done epitomise the role of a dedicated public servant. He serves as an inspiration to others
Kazakhstan’s long path to inflation targeting
After a slow start, the National Bank of Kazakhstan’s implementation of inflation forecast targeting is beginning to mature. By Warren Coats
PBoC’s hike signals policy management shift
The decision by China’s central bank to raise a suite of interest rates around Chinese New Year marks a shift towards market-based tightening, argues Hui Feng
New deposits backed by central bank money could solve public mistrust
New deposits backed by central bank reserves could address public fears about bank safety following the use of bail-in tools in the resolution of regional banks, argues Alessandro Roselli
Why the EU needs an asset management company
The European Banking Authority’s Piers Haben and Mario Quagliariello argue a well-designed asset management company should be a major part of efforts to clean up the European banking sector
Central bank of the year: Bank of England
The BoE has undergone a major restructuring that has reshaped its organisational framework, research and public interaction – leaving it well positioned to meet the challenges ahead after a tough year
Risk manager of the year: Bank of Ghana
The central bank has built a dedicated risk function, instilling a strong risk management culture into business operations and protecting itself from emerging threats
Risk management services provider of the year: OpenLink
OpenLink has continued the evolution of its Findur product with the development of collateral management functionality, notably supporting the Bank of Canada in its move towards collateral posting
Website of the year: Central Bank of Kenya
The East African central bank has embraced responsive design to cater for an increasingly mobile audience, eclipsing the websites of many peers
Consultancy and advisory services provider of the year (core): BearingPoint
BearingPoint’s consultants received high praise for their work in helping central banks manage large volumes of regulatory data, and the firm’s software underwent an upgrade in 2016
Consultancy and advisory services provider of the year (bespoke): Innovia Security
Polymer bank note provider also offers a suite of advisory services from design through to recycling to prepare central banks for the transition to ‘plastic’ bank notes, as highlighted in Nicaragua
Transparency: Bank of Canada
Communications embedded in the policy process, fresh thinking on shared content and an expanded senior team show the central bank’s commitment to staying at the leading edge of transparency
Banknote and currency services provider of the year: Crane Currency
Leading micro-optics provider continues to deliver a full range of services from design to print to a large number of central banks around the world to ensure integrity of cash
Initiative of the year: Saudi Arabian Monetary Authority’s compliance standards activation project
Sama has made a strong start in its efforts to develop an enterprise-wide risk management culture
Reserve manager of the year: Bank of Israel
Israel’s central bank has made breakthroughs in its sensitivity analysis of near-optimal portfolios, as well as making notable gains from its diversification strategy
Asset manager of the year: State Street Global Advisors
Boston-based asset manager not only has depth and reach – it has taken customisable services to a new level
Global securities lending services provider of the year: BNP Paribas Securities Services
The French bank has helped a range of official institutions to glean additional revenue from their bond holdings in tight markets