Accounts
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
There’s work to be done on RTGS contingencies
Central bankers from Canada, Thailand, Singapore and Brazil discuss RTGS backup planning, including how redundancy, cost and complexity prevent central banks from operating more contingency sites
UK Treasury makes first payment to BoE to offset QE losses
Indemnity was “integral” to QE but “day of reckoning” had to come, economist says
FTX collapse: what went wrong?
Regulators close in as downfall of major exchange rips through crypto sector
Book notes: Yellen, by Jon Hilsenrath
This book offers new insights into the tough decisions and tremendous efforts Yellen has made as a pre-eminent economic policy-maker
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
RBA reports huge losses from bond purchase programme
Central bank says its asset purchase programme helped boost the economy despite its financial cost
Is there a case for a retail CBDC in Japan?
A BoJ-managed, account-ledger ‘digital yen’ tied to the new Kotora payments may offer some potential
Bundesbank vice-president calls for shift to ‘carbon accounting’
Proper calculation of carbon costs will mean firms disclosing private data, Claudia Buch says
Fed faces years of losses as interest rates rise
QE brought major interest rate risk onto central bank’s balance sheet
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the hugely influential IMF founder and his work, but fails to resolve espionage charges
Iran imposes restrictions on payments
Authorities cite risk of cyber attacks, but economy has also faced capital flight
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
CBDC and bank intermediation in the eurozone
An assessment of the impact different ‘digital euro’ designs related to remuneration and usage limits could have on the banking system, including during times of stress*
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war
IMF gains bigger budget to handle economic ‘inflection point’
Decade of flat budgets hampered efforts to tackle “profound” macroeconomic shift, fund says
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
Malawi central bank fund in crossfire of allegations
Audit finds a loss of over $15 million, but some staff claim directors ordered bogus inquiry
Central bank of the year: Bank of Korea
South Korea’s central bank was the first developed-world central bank to tighten policy to address inflationary risks
Advisory services: Kroll
The US firm shed light on the ‘missing banknotes’ scandal in Liberia, and is now working with the central bank to overhaul its cash operations
Bank of Thailand and finance ministry delay PayPal suspension
PayPal Thailand must comply with KYC regulations by end of year, central bank says
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
People: Chile appoints new central bank director
BoJ set to gain new policy board members; RBA names new head of banking; and more