Reserves
Future of settlement is taking shape – so are some big questions
Cash or coins? How to tackle loss of netting? What about CBDCs? Market has a lot to decide in settlement revamp
Zero rates and QE made bank depositors flightier – research
Asset purchases did not play out as theory envisioned, NBER paper finds
Canada’s Tiff Macklem on the US trade dispute, AI and framework renewal
Bank of Canada’s governor speaks about declining economic resilience, the need for decisions despite policy dilemmas, Canada’s new interconnected, sector-focused structural model, lessons from QE, and more
Bhutan’s king decrees new central bank for ‘mindfulness’ city
Gelephu-based institution will be able to invest in digital assets, alongside conventional reserves
Central banks buy gold at fastest pace in two years – WGC
PBoC and National Bank of Poland added 104 tonnes in Q3
Most central banks have raised dollar shares – study
Geopolitics drove institutions to buy gold, rather than move away from greenback, paper argues
Colombia holds rates and shores up reserves by $2bn
Central bank says move to purchase dollars from government ensures it can weather potential shocks
Bahamian economy faces ‘elevated’ downside risks – Rolle
FX reserves more than adequate to support currency’s US dollar peg, central bank governor says
Podcast: Should smart contract code be law?
As the worlds of decentralised and centralised finance collide, how should trust on blockchains be built and what happens when it breaks down?
Rethinking capital-flow resilience in an age of recurring shocks
Amro’s Yasuto Watanabe and Takuya Yoshioka argue that policy-makers need a range of credible monitoring and policy tools to address the next waves of major shocks
The risks and returns of ever-expanding swap and repo lines
Increase in central bank swap agreements and repo facilities should help to counter future liquidity squeezes. But the proliferation is fraught with political risk
Oil discoveries drive persistent inflation increases – BIS paper
Price effects of energy discoveries concentrated in economies with inflexible exchange-rate regimes
Former MNB governor detained in co-ordinated police action
Prosecution service detains György Matolcsy on suspicion of breach of trust causing financial loss
Former Richmond Fed chief to oppose discount window reform
Counting unused capacity towards prudential requirements would be ‘unwise’, Lacker will argue
Atomic settlement: a solution to cross-border payment woes?
Experts say simultaneous settlement has the potential to improve cross-border frictions – so why are central banks lukewarm?
Overnight rates hitting MRO no sign of failure, says Välimäki
Bank of Finland board member outlines preferred view of new ECB structural operations
Ice launches gold futures trading in London
Contract gives market participants new risk management tools, head of Ice Europe says
BCRA challenges claim of $1bn loss on gold hedges
Central bank says derivatives transactions in 2025 reflected routine hedging operations
Stablecoins could let US firms prioritise some creditors – study
FDIC may be on hook if a bank issues coins before failing, Cleveland Fed researchers say
Philippines’ FX reserves fall to three-year low
BSP says levels sufficient following period of currency interventions and devaluations
SNB could unwind tiering, but gain ‘not obvious’, Martin says
Vice-chairman defends Switzerland’s tiered approach to ample reserves