Central Banking
People: Bank of Israel appoints senior officials
Governor appoints new director-general and head of communications; retired judge heads bank director vetting committee
Netherlands nominates Frank Elderson to the ECB board
NGFS chair would replace Yves Mersch, whose term expires in December 2020
ECB has ‘no room for complacency’, Lane says
Chief economist stresses ECB is ready to expand stimulus after Lagarde appeared to downplay risks
Bank of Canada looking at inequality, governor says
Monetary policy review is considering impact on wealth and income inequality, says Tiff Macklem
Bank of Thailand launches DLT-based bond issue platform
Central bank says new platform increased efficiency of $1.6 billion retail bond issue
Supply curves may be convex – ECB paper
Findings imply that Phillips curve is convex and fiscal policy is state-dependent, authors say
ECB leaves policy unchanged
Lagarde says she will not comment on euro’s exchange rate against the dollar
People: UK regulators appoint new complaints commissioner
Central banks in Madagascar and Barbados get new board members
MasterCard launches new CBDC testing environment
New platform will allow central banks to test CBDC issuance and distribution
CFTC report calls for US regulators to take urgent climate action
US should join NGFS, impose carbon price and mandate firms to disclose green risks, report says
Central banks are using biased estimates of pass-through – BIS paper
Standard measures exchange rate pass-through fail to account for market power, researcher argues
BoE’s Stheeman sets out expectations on cyber resilience
Policy-makers will be guided by cyber stress-testing and “impact tolerances”
Euro failing to challenge US dollar in global reserves – CBI Benchmarks data
Among non-European central banks euro sovereign debt accounts for just 4.1% of reserves; negative rates act as a major barrier, say reserve managers
Central Bank of Brazil launches climate change agenda
Proposals include creation of sustainable liquidity facility and adding climate factors to reserves management
Modellers should not exclude pandemic-era data – ECB paper
Excluding pandemic data from time series would “vastly underestimate uncertainty”, authors argue
MAS ‘front-loads’ interest rate benchmark reform effort
Central bank says not transitioning to new Sora rate will expose banking sector to increased risk
Central Banking’s strategic changes for a new era
New institute, benchmarks, virtual training and online event weeks launched
Ukraine replaces deputy governor as more senior officials leave
Latest change at central bank comes as donors watch closely for signs of interference
RBI unveils debt restructuring plan
Aim is to save viable businesses while letting hopeless cases fail
Deep learning can beat other forecast methods – Bank of Korea research
Deep learning models have smaller margin of error than conventional methods, research finds, but data quality is key
Israeli reserves reach new record high
Central bank foreign exchange purchases to finance the government deficit in 2020 partly account for increase
UAE steps up AML/CFT monitoring
New “smart” system forms latest cog in effort to stem illegal money transfers
BIS paper explores changing inflation risk factors
Authors highlight “significant non-linearities” among a range of risk factors
Bank investors still don’t think bail-in will happen, FSB told
Questions over bailing in bank bondholders mean problem of too big to fail persists, experts warn