Central Banking
Asymmetric inflation targets improve welfare – Chicago Fed paper
Fed can remove deflationary bias by adopting asymmetric target, model suggests
Bank of Israel grants digital bank licence
Israel joins growing list of jurisdictions permitting online-only financial services
Central banks urged to adopt DLT-based CBDC
Industry figures argue central bank money is needed for token-based securities settlement, but central bankers are sceptical
Turkish central bank steps up efforts to increase bank lending
CBRT makes second move to use reserve levels to sharply increase credit growth
Carney calls for more nuanced approach to green metrics
Binary green-brown distinction is not enough to drive transition to low-carbon industry, BoE chief says
NY Fed president sends warning on Libor transition
Firms “sticking their metaphorical heads in the sand” must act now, Williams says
Fed researchers model impact of recent trade uncertainty
Trade uncertainty could account for a 1–2% decline in US investment, researchers say
Yellen condemns ‘unacceptable’ treatment of female and minority economists
Former Fed chair says more needs to be done to tackle discrimination in the profession
BoE paper explores collateral’s impact on labour market
Collateral value affects hiring decisions by small businesses, authors find
Swift conducts 13-second cross-border payment
Trials saw payments go from origination through to clearing and settlement in seconds
Inflation models must pay more attention to globalisation – Brookings paper
Global factors more important for some inflation measures since 2008 financial crisis, researcher finds
US designates Iranian central bank as terrorist supporter
Move will tighten existing sanctions regime regarding deals on “humanitarian goods”
Yemeni government appoints new central bank head
New appointee will be the fourth to hold the role since outbreak of civil war in 2015
IMF officials call for ‘far-sighted’ digital currency regulation
Stablecoins could put weaker currencies at risk and increase illicit activities, IMF officials warn
Regional Fed presidents differ starkly over US economy
Boston Fed president warns of easing risk creates risks, but St Louis Fed chief says manufacturing is in recession
ECB prepares for ‘big bang’ move to new market infrastructure
Eurozone's payments, instant payments and securities settlement systems will merge by end of 2021
Riksbank may not use DLT for e-kronor, says Julin
The Swedish central bank plans to launch a ‘proof of concept’ e-kronor next year as an alternative to cash; no monetary policy component envisaged
BIS’s Borio warns of ‘troubling’ negative yields
BIS quarterly review highlights new peaks in negative-yielding debt and examines CLO risks
Economists propose solutions to Fed’s liquidity problem
New York Fed prepares for sustained series of interventions in coming weeks
BoE paper measures ‘market-implied’ systemic risk
“Shadow capital adequacy” shows how default risk impacts capital assessments
Cyprus central bank adopts Maps treasury management system
The system was built by Calypso and has been used by the Bank of Spain and Banque de France since 2016
Banks shy away from ECB’s first TLTRO III
Demand was “shockingly weak” says analyst, but firms are expected to increase their uptake in December
EU seeks to offer reassurance on Brexit clearing exemption
Commission can act quickly to stave off no-deal market disruption, insists official
People: Bank of Canada appoints new deputy
Bank of Canada promotes from within; BIS appoints regional chair; FCA names new executive