Capital flows
BdF paper looks at use of capital controls and foreign reserves
Many countries combine both to moderate effects of international capital flows
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
BIS statistics: OTC derivatives market value back to 2019 levels
Gross market values have fallen about a fifth since second half of 2020
BSP sees no signs of capital outflow as Fed taper begins
Central Bank of the Philippines now mulling exit from its own purchase programme
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
MAS and RBI to link up payment systems
New linkage will allow for automation of capital controls, say authorities
Less chance of “taper tantrum” in emerging markets – Dallas Fed paper
Emerging markets have larger dollar reserves to meet financing disruptions
SNB research highlights trade-offs in use of capital controls
Financial stability benefits come at cost of curbing job creation, authors find
Police search Paraguay central bank
“Fifa-gate” investigations into embezzlement lead special AML unit to execute warrant
Papua New Guinea central bank penalises largest lender
Regulators issue warning on AML breaches at BSP, but observers say actions are not strict enough
Sri Lanka central bank imposes capital controls
Measure restricts exports of foreign currency as government faces debt challenge
South African Reserve Bank: the first 100 years
Central bankers and academics reflect on a tumultuous first century for Africa’s oldest central bank
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
Carney warns CBDC delays play into hands of big tech
Failure to launch CBDC risks entrenching power of tech firms, former BoE governor says
Cuba bars dollar cash deposits
Country struggling with sanctions as inflation spirals
Finland’s Ilves on ESG and the impact of Covid-19 on reserves
Nick Carver speaks to the Bank of Finland’s head of asset management, Jarno Ilves, as part of HSBC’s Reserve Management Trends 2021
Emerging markets pass capital flows test
BIS report concludes inflows are broadly positive, as improved EM institutions make them more resilient
US may not need CBDC – Boston Fed chief
Rosengren says improved payments systems may provide many CBDC uses
Sanctions must go for nuclear talks to succeed, says Iran governor
Hemmati has played major role in sanctions-related diplomacy
IMF warns Tuvalu risks exclusion from global banking system
Country must improve AML framework and domestic lending practices, fund says
Emerging markets should prepare for higher rates – IMF article
Middle and low-income economies need to anchor fiscal policies after the pandemic is under control
Zhang Tao on the IMF’s fintech agenda, CBDCs and big tech oversight
IMF deputy managing director speaks about the fund’s perspectives on CBDC operating frameworks, regulating big tech and macrofinancial oversight in a digital world
China and private sector could free ride on SDR issuance – El-Erian
Economist calls for development of a new common sovereign debt restructuring framework; Vera Songwe says many countries need more debt relief