Benchmarking
National income not only determinant of reserve management staff numbers
Salaries ranged between $11,968–$138,768 among benchmark participants
Payments Benchmarks 2021 – presentation
Central Banking’s payments subject matter specialist Rachael King speaks with Christopher Jeffery about payments, staffing and salaries, mandates, oversight, and RTGS renewal
Most central banks invest in derivatives
External managers facilitate wider use of these instruments
External asset manager use on the rise
Central banks in upper-middle income countries allocated a higher share of reserves to external managers
Emerging nations turned to FX interventions during pandemic
Central banks in emerging nations were twice as likely to implement FX interventions than their peers in advanced economies
Reserve managers prioritise liquidity tranches during pandemic
Central banks increased this part of their portfolios in the wake of US Treasury disruptions
Social bonds gain importance as a reserve asset
More than two-fifths of benchmark respondents invest in social bonds
Climate risk becomes more relevant to reserve managers
More central banks invest in green bonds and include climate risks in their benchmarks
Financial Stability Benchmarks 2021 report – keeping the sector secure
Benchmark exercise presents responses on AML/CFT, cyber, macro-prudential and other risks
Most respondents externally accountable on financial stability
All responding central banks said they publish a financial stability report at least once a year
Financial stability powers are sufficient, say most central banks
Two African central banks say they urgently need more powers over financial sector
Pandemic is top stability concern for benchmark respondents
House prices, cyber crime and crypto assets are also major worries for central banks
Many benchmark respondents concerned over AML/CFT risks
Participants based in Americas especially concerned over rise in money-laundering risks
Stark differences between financial stability department resources
Powers may be more important than staff numbers and budget to carry out function
More macro-pru tools needed, say some central banks
Some benchmark respondents say they lack legal framework for macro-prudential powers
Emerging market central banks regulate more sectors
A higher proportion are the sole banking, non-bank and micro-finance sector regulators
Emerging nations favour different macro-prudential tools
Respondents from richer countries use counter-cyclical buffers more than emerging market peers
Many central banks are sole macro-pru agency
Two-thirds of respondents say central bank alone can impose macro-prudential restrictions
Wide range of financial stability arrangements among central banks
Boards are prime financial stability decision-making body at many participants
Banks resolved in almost half of jurisdictions surveyed
Jurisdictions with more bank resolutions had higher NPL levels, benchmark exercise finds
Stress tests key for financial stability – Benchmarks participants
Most Benchmarks participants conduct stress tests more than once a year, but methods vary
Cyber security exercises useful, say benchmark participants
Over half of participants simulate cyber attacks – a quarter do so more than once a year
Monetary Policy Benchmarks 2021 report – executive summary
Insights into the staff that work on monetary policy, decision-making, tools, transparency and market operations
Cyber attacks rising, most benchmark institutions say
Financial sector hacking attacks rose in past two years