Investment
RBA hits out at further delay to new clearing system
Blockchain-based system for Australian Stock Exchange won’t be operational until at least late 2024
Rethinking regulation of the modern financial system
Bank of Italy’s Maurizio Trapanese writes that rules need to address uncertainty as well as measurable risks, entity types as well as activities, and should not be overly complex
Mismeasurement may cause ‘missing-investment puzzle’ – BoE’s Bailey
Rise in intangibles could explain apparent fall in investment despite stable returns, governor says
Central African Republic launches crypto asset
Regional central bank reaffirmed ban on cryptocurrency after CAR made bitcoin legal tender
Modelling the short-term economic impacts of climate change
Econometric models can give central banks a clearer picture of short-term climate impacts, says Stephen Millard
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
Williams also expects US to avoid recession this year
Unemployment will likely rise to 4% as growth slows due to tightening process, says NY Fed head
BIS balance sheet buffeted by market turbulence
Institution still turned a profit in the year to March 2022
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak to Victor Mendez-Barreira about ‘twin bonds’ and other efforts to solve green bond liquidity concerns
Book notes: A full-value ruble, by Kristy Ironside
Soviet experience shows MMT worked, only with far more challenges and downsides than promoters envisioned
The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals, amid calls from some parties for higher inflation targets
Saudi sovereign wealth fund sets up national coffee company
Coffee venture is part of national diversification plann
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
NBU restricts crypto purchases to stem capital outflows
Ukraine continues to accept bitcoin, ethereum and tether for war effort
Climate transition set to boost inflation, finds Swedish research
Sveriges Riksbank analyses main inflationary forces stemming from climate policies
PBoC announces policies to help pandemic-stricken economy
Package of 23 measures echoes actions taken in 2020
Gas investments important for energy security, UK’s Sunak tells BoE
Chancellor of the Exchequer urges officials to support government’s energy security policy
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Risk management technology: BlackRock’s Aladdin Risk
ESG feeds into integrated position reports, customised benchmarking and robust scenario analysis assist prudent reserve management
Abu Dhabi wealth fund to “pause” Russia investments
Mubadala CEO calls Ukraine war “a travesty”, but fund has small Russia exposure
CCP collateral regulation could limit procyclicality – BoE paper
Requiring CCPs to reinvest cash collateral can help reduce procyclicality during stress, authors find
Book notes: Shutdown, by Adam Tooze
A useful, wide-ranging overview, showing how health and economic policies are intimately intertwined with geopolitics