Banks
DNB paper looks at eurozone’s interest rates
Paper looks at effects of ECB monetary policy shocks on bank equity prices from 1999 to 2020
RBNZ warns of cyber risk from cloud
Draft guidelines would mandate firms to notify RBNZ over outsourcing critical functions to cloud
BIS tracks $1.1 trillion drop in cross-border claims
Lending surged and then fell back as banks reallocated funds during the Covid-19 crisis
Quarles: policy-makers have ‘work to do’ on non-bank fragilities
FSB chair outlines areas where non-banks may have amplified the Covid-19 shock
Banks and regulators call for global climate risk standards
Carney and Winters warn private sector cannot move much further without lawmakers
Covid-19 bolsters support for greener future – Menon
Managing director takes stock of economic damage but says future will be a sustainable one
Central banks show wide variation in cash department staffing
Different staffing levels driven in part by which institutions run their own printworks
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
Marshall Islands readies to make waves in digital currency
Island nation ready to issue blockchain-based national currency if its new government gives the go-ahead, chairman of foundation says
Central bank refinancing greatly lowers banking risk – ECB paper
Paper uses data on post-crisis eurozone to calculate effects of refinancing rate on risks facing banks
Banking sector resilience ‘likely to be tested’ – IMF’s Adrian
Fund’s stability report says vulnerabilities are high and rising, creating difficult policy choices
Reforms cut risk-taking by G-Sibs – ECB paper
Researchers say reforms may have at least partly resolved “too big to fail” problem for largest banks
Samuel Brittan (1933–2020): A master of his trade
Robert Pringle looks back at the life of Samuel Brittan, the economic journalist and adviser to Central Banking
The Central Banking Awards 2020 virtual ceremony
View the trophy presentations and acceptance comments from all the winners recognised in the seventh annual Central Banking Awards
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas that shape the environment in which all central banks operate
G-7 central banks agree CBDC principles
BIS joins with leading central banks to set out principles for deciding to issue CBDCs
Carbon tax could help monetary policy – ECB paper
But tax will only improve welfare if alternatives to carbon-based power are available, say researchers
UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
Global fraud framework needed as digital transactions rise – report
Covid-19 has forced consumers to trust new payment methods, but it could come at a cost
FCA wants pandemic-relevant projects for sandbox
UK regulator announces scope of latest sandbox cohort and launches new digital initiative
Machine learning algorithms could increase ethnic bias – research
Technology makes loans more likely for US ethnic minorities but increases interest rates, paper finds
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk; efforts to expand focus beyond climate risks now under way
DNB survey looks at factors driving trust in financial system
Authors use data from DNB survey of Dutch consumers of financial services
UK’s access to cash policy pilots to launch in 2021
Industry body seeks permission from FCA to allow retailers to provide cashback services