Central Banking
Bahamas central bank upgrades IT to defend against cyber risk
Central bank updates security and threat management systems and introduces a new “bring your own device programme”
FOMC signals patience as rates stay on hold
Minutes emphasise “symmetric” target, noting inflation expectations are still “low”
Central Banking Awards 2018: Gallery
See the winners from the big night, including leading figures from across the industry who came to pick up their awards
Official reserve management in the 21st century
A lack of operational clarity and reluctance to view reserve portfolios holistically have prevented optimal, rules-based approaches to reserve management becoming commonplace. BlackRock‘s Terrence Keeley, Stuart Jarvis and Michael Palframan explain how…
Bank of Canada paper offers advice on digital currency policy
Framework designed to help policymakers weigh up various forms of digital money
Islamic finance can tackle global instability – Kuwait’s Al-Hashel
Amid “excessive” risk-taking, Mohammad Al-Hashel suggests Islamic finance could help restore stability
ECB’s sovereign bond purchases may increase volatility, DNB paper says
Researchers say their findings could have important lessons for “tapering” programmes
UK takes next steps in payments shake-up
Two of the three retail payment systems have been taken over by the New Payment System Operator, with the third to be integrated soon; first non-bank PSP connects to BoE’s RTGS
Bank of Mexico to be more transparent on monetary policy
Central bank will publish meeting transcript with a three-year lag, as part of a policy to make its communication more transparent
US will implement trading book reforms, insists Fed official
“I don’t know why people doubt” US adoption, says Lynch
ECB calls for reforms to macro-prudential framework
“Pecking order” for activating responses should go, ECB says; framework needs “comprehensive review"
IMF tells Vanuatu central bank to tighten monetary policy
Excess liquidity starting to put pressure on prices, as inflation is expected to reach 4.8% in 2018
The IFF China Report 2018: The Bay Area Development
The Guangdong–Hong Kong–Macao Great Bay Area represents an effort to co-ordinate development to create globally competitive city clusters at the start of the Maritime Silk Road in southern China. These efforts are focussed in particular on innovation,…
IMF unveils first vintage of macro-prudential data
Database is the first global source of information on macro-prudential institutions, indicating an overall tightening in policy in 2016
European Union’s AML regime is reaching its limits, EBA director says
Haben raises concerns over ‘passported’ individuals and firms; new European law guarantees access to central bank registers
People: BoE appoints chief cashier in senior reshuffle
BoE makes promotion following departure of Chris Salmon; Malaysia picks new assistant governors; MAS makes changes to senior management
High-frequency data could improve GDP estimates – RBI researchers
Initial data releases tend to be revised upwards, the authors find
Asset managers should be allowed to operate globally – Bailey
FCA chief warns against attempts to restrict trade in financial services, and says he believes regulators have a good basis for “mutual recognition” of standards
No funds taken in cyber breach, Bank of Mexico says
Central bank reveals three participants of interbank payment network experienced “incidents” within internal systems; banks asked to implement “additional controls”
RBA governor dispels view board ‘does nothing’
Central bank board votes to leave rates on hold, extending period to 21 months with no change; Lowe says next move is likely to be up
Venezuelan public invited to invest in national crypto asset
President Maduro announces public will be able to invest in ‘petro’ as well as gold; $1 billion from the proceeds of first petro auction to go to the central bank
Russian central bank bails out another commercial lender
Asian-Pacific Bank is “socially important” in Siberia and Far East, Bank of Russia says
Haldane envisages ‘iterative’ approach to advancing economics
Deductive and inductive approaches “need to share a broadly equal billing”, BoE chief economist says, setting out how the central bank has made use of big data
Emerging markets still taking on dollar debts, BIS data shows
Rapid growth in credit to emerging markets echoed by broader rises in global liquidity