Accounts
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Should the ECB disclose governing council members’ votes?
Some former officials argue it would reduce leaks and conflicting statements, while other stress the current system allows better policy debates
MAS posts record $22.8 billion loss
Managing director Ravi Menon says loss is not a cause for concern
RBA bans PwC from new contracts until scandal cleared up
Consultancy firm mired in controversy over leaking Australian government tax plans to clients
Combatting the ever-changing cyber threats in banking
Seemanta Patnaik, co-founder and chief technology officer at SecurEyes, discusses the continually evolving challenges and threats, and possible solutions to remain resilient to cyber attacks in today’s central banking environment.
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
Colombia central bank transfers $1.6 billion to government
Country escapes trend of central bank losses
Central banks should explain why losses are necessary – BIS paper
Policy goals sometimes necessitate losses but they need to be accompanied by clear communications
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