Central Banking
Stress-test transparency: how much is too much?
The transparency drive to disclose bank stress-test results comes with costs
Schlegel: Liechtenstein is on its own for financial stability
SNB governor says principality’s lenders are not entitled to bank’s emergency liquidity facilities
AWS outage barely affected Europe’s central banks
Monetary authorities say robust risk mitigation frameworks helped them to largely avoid fallout
Stablecoins to trigger rise in demand for Treasuries – study
Authors say sector’s growth could take demand from around $300bn today to $2trn by 2030
Asia-Pacific central banks list geopolitics, AI among key challenges
EMEAP, representing monetary authorities from across region, commits to strengthening co-operation
Taiwan’s central bank seeks oversight over stablecoin issuance
Deputy governor says potentially volatile assets could affect financial stability
People: Estonia selects new governor-designate
Plus senior promotions in Hong Kong, India and Sri Lanka
ECB holds rates for third consecutive time
Lagarde celebrates ‘fading risks’ to eurozone growth thanks to trade deals and Gaza ceasefire
ECB enters new phase for digital euro, with issuance set for 2029
CBDC’s next phase to focus on technical readiness, market engagement and legislative support
Why Europe cannot afford to delay the digital euro
CBDC would counter the erosion of sovereignty as cash recedes, substitution by foreign digital monies and weaponisation of access, argue Biagio Bossone and Céu Pereira
Swiss price controls do not depress inflation – SNB paper
CPI metric would ‘not have greatly differed’ had it excluded price-controlled goods, study finds
Japan holds rates, as expected, with two dissenting votes
BoJ governor says there is no ‘preset idea’ on future rate rises after dissenters call for 25bp hike
RBNZ governor says operational independence is crucial
Hawkesby says central bankers globally are worried attacks on independence will be normalised
Fed cuts rates with dissenting votes in both directions
Risks to employment and prices split FOMC three ways
Bank of Canada makes modest rate cut
Economists disagree over wisdom of decision at time of above-target inflation and soft labour markets
Former Kansas City Fed chief sounds alarm over banks’ leverage
Hoenig says largest lenders are not adequately capitalised for their risks
‘Opaque’ AI poses supervisory challenge, says BdF’s Beau
Deputy governor says focus should be on data required for ‘new elements’ of EU’s AI act
Give BoJ policy space to fight inflation, says Bessent
US Treasury secretary hints at preference for rate hikes before Japan’s central bank meets
BoK denies dollar stablecoins threaten monetary sovereignty
South Korean central bank remains cautious about won-backed instruments as legislation moves forward
Webinar: How can central banks future-proof reserve management in a rapidly evolving financial landscape?
How central banks can take a strategic, future-proofed approach to modernisation by consolidating fragmented systems into a unified platform
Deep water waves: accelerating, broadening, consequential
Factors that will impact investment returns over the next decades, the interplay between them and their likely impact on investment outcomes
How EU supervisors react to interest rate risk outliers
Banks have faced no automatic penalties for breaching new NII test, but do come under microscope
NBER paper maps out international financial network
Rey and Stavrakeva show equities markets play crucial transmission role