Central Banking
DLT handles major transaction volume in digital euro experiment
Test processed 300,000 payments simultaneously; carbon footprint smaller than current card payments
The evolution of the renminbi
Central Banking speaks to five policy-makers about their thoughts on the prominence of the renminbi within central bank reserves following its inclusion in the International Monetary Fund’s special drawing rights.
Covid-19 recovery highlights stark inequality between nations – IMF
Policy support and speed of vaccination programmes have widened gaps, Gopinath says
Covid and the cloud: a turning point for central banks?
As central banks embrace new technology, providers are jostling to be first in line
BoE’s Vlieghe: central bankers must speak up about economic fragility
Outgoing MPC member says impact of debt and inequality is “stark”, but goes beyond central banking
Macro-pru can help avoid ‘reversal interest rate’ – Bundesbank paper
Use of capital ratios can aid eurozone monetary policy, researchers say
RBI could launch CBDC pilots in ‘near future’ – deputy governor
Central bank is still researching underlying technology and design features, says T Rabi Sankar
Kazakhstan raises rates as inflation climbs
Central bank warns inflation could still rise further, a similar issue to neighbouring Russia
Macro-pru mortgage limits were successful – RBA research
Central bank rates performance of policies implemented to cool risks in the housing market
Podcast: Payment infrastructure for a digital era
Central Banking speaks to representatives from ACI Worldwide and Mastercard about why collaboration with the private sector is crucial for payment infrastructure in the digital era
Bank of Russia increases policy rate 100bp
Central bank announces fourth rate hike of year amid rising inflation expectations
ECB to lift limits on bank dividends from September
Supervisor stresses lenders should remain prudent in distributing dividends and share buy-backs
ECB bond holdings exposed to nature-related financial risks – paper
Study warns corporate bond holdings rely on ‘ecosystem services’ and contribute to biodiversity loss
UK public has ‘reasonable’ access to cash, regulators say
But pandemic made it difficult for people to access and pay with cash, new research finds
Weidmann: inflation heading ‘in the direction of 5%’
But the Bundesbank president defends the ECB’s new policy framework
Finalising Basel III is crucial for the EU banking sector
EU banks stand to be more heavily impacted by Basel III finalisation, but that is not a good reason to hesitate, says Pedro Duarte Neves
People: New York Fed appoints new head of supervision
Diane Dobbeck to lead supervision group; Atlanta Fed hires chief strategy officer; Biden appoints assistant treasury secretary
BIS paper warns against ‘timid’ QE and ‘debt-averse’ fiscal policy
Policy mistakes at zero lower bound can worsen economic problems, authors say
Colombian central bank joins DLT bond issuance pilot
Technology could cut costs and offer faster processing, traceability, security and risk management
Powerful companies are diluting monetary policy effectiveness – IMF
Competition policies are needed to ensure central banks can use monetary policy effectively
FCA asked to investigate ‘unwarranted’ bank account freezing
Parliamentary committee concerned AI may have caused ‘inappropriate bias’
IMF raises caps on loans to poorer countries
Reforms also provide new funding to anti-poverty trust
New BoE climate risk scenarios spark race for extra data
Banks need information from clients or third parties to populate 1,760 stress test variables
BoE paper builds GDP-at-risk model
Authors generate “fat-tailed” distribution to explore economy’s tendency to hit lower bound on rates