Central Banking
Carstens calls for ‘comprehensive’ oversight of big tech
BIS chief highlights “data-network-activities loop” driving big tech growth
Fed creates committee on climate change impacts
New York Fed supervision chief moves to DC to chair new body
ESM to become backstop to Single Resolution Fund
Revised treaty enhances fund’s role in future adjustment programmes and crisis prevention
Central bankers debate next steps on climate change
Jens Weidmann argues for independent agency to relieve burden on central banks
Cross-border spillovers play key role in ECB’s bond purchases – DNB paper
Cross-border effects play a “dominant role” in PSPP’s effectiveness, say researchers
Dutch crypto firm takes legal action against DNB
Bitonic says new KYC requirements are disproportionate and threaten consumer privacy
ECB grants post-Brexit reprieve on large exposures limit
Exemption for intra-group exposures to UK will be preserved pending a decision on equivalence
IMF staff lay ground for $1.8 billion loan to Costa Rica
Staff set terms for three-year loan as high debt and Covid-19 take toll; earlier agreement foundered amid public protests
Bundesbank paper estimates effects of Fed’s QE policies
Purchases of private securities were most expansionary measure, researchers find
IMF warns of ‘exceptional uncertainty’ in vaccine-driven recovery
Fund upgrades global forecasts amid early success of vaccine rollout
Brazil’s inflation still above target in January
Early reading recorded at 4.3%, adding pressure to tighten policy
MAS explores need for domestic green taxonomy
Taxonomy could help steer capital towards the region’s green priorities, deputy governor says
China tightens regulations on non-bank payment firms
Central bank will scrutinise payments more closely and fine firms for rejecting cash
ECB steps up work on climate change
Central bank launches climate change centre and invests in new BIS green bond fund
Nordic and Baltic countries ask IMF for money laundering report
Move follows string of scandals over massive AML breaches in Baltic and Nordic banks
Raising equity is best for bank recapitalisation – BIS paper
New capital is preferable to asset sales, which can cause systemic problems, authors say
BoE paper explores macroeconomic impact of macro-pru
Authors build DSGE model featuring “detailed banking sector” and sticky interest rates
New governor appointed at Saudi Central Bank
Fahad Almubarak returns for a second stint as governor of Sama
ECB reports historically low counterfeit volumes
€20 and €50 remain the most counterfeited, central bank data shows
BoE scolded for carbon-heavy investments
Parliamentary committee says current bond buying undermines “diplomatic leadership” on climate change
DNB paper looks at announcements of LTV ratios
Effectiveness of macro-prudential measure is considerably affected by design, researchers say
Israeli reserves “well beyond adequacy” – IMF
Fund calls on Bank of Israel to cease FX purchases once inflation returns to target
Mexican president seems to make U-turn on central bank law
Bank of Mexico says draft cash law would endanger its independence
BIS to research prototype DLT green bond platform
Innovation hub sets up international network to share knowledge and address problems