Climate change
IMF calls for action on fragmenting global economy
Senior officials say world is facing “confluence of calamities” and leaders have been complacent
BoE climate stress test finds impact will fall on bank customers
Sam Woods questions whether capital is “best tool” to address climate change
Fed nominee Barr plans to re-evaluate capital and liquidity rules
Proposed vice-chair for supervision sees limited role for Fed in tackling climate change
Bank of Jamaica will expand supervision of climate risks
Central bank notes island country is among 20 most vulnerable to climate change
Sudden carbon price rise risks major financial shocks – ECB paper
Model looks at impact on eurozone banks of different decarbonisation measures
Climate transition set to boost inflation, finds Swedish research
Sveriges Riksbank analyses main inflationary forces stemming from climate policies
Gas investments important for energy security, UK’s Sunak tells BoE
Chancellor of the Exchequer urges officials to support government’s energy security policy
Central Banking Awards 2022: the winners in full
Recipients of the 2022 awards include Stanley Fischer, the Bank of Korea, Mario Marcel and many more
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
Project Ellipse: real-time data and the ‘art of the possible’
BIS’s Andrew McCormack and MAS’s Kenneth Gay talk about phase two of the suptech project
Green initiative – regulatory: Banque de France and ACPR
French central bank and prudential regulator created an innovative stress-test methodology
Green initiative – operational: Eastern Caribbean Central Bank
ECCB installed its own solar farm in effort to become carbon-neutral
Raskin withdraws Fed candidacy
Nominee cites “relentless attacks by special interests” after key senators oppose bid
Raskin Fed role in doubt as key senators voice opposition
Manchin says appointment would “politicise” Fed with opposition to fossil fuels
No bank meets ECB expectations on climate disclosures
Supervisor sees progress since 2020 report, but significant gaps remain unaddressed
BIS paper finds benefits from ‘deconstructing’ ESG scores
“Best-in-class” strategy can overcome problems with other approaches, authors say
MAS’s Tharman urges investor action on global instability
War, stagflation risk, climate crisis, pandemic and uneven growth create “perfect long storm”
Digital money and central banks
Monetary policy, regulatory and financial stability focus needed to stay relevant
ECB launches climate risk stress tests
Exercise will feed into SREP and could indirectly affect lenders’ capital ratios, ECB says
Two-thirds of central banks have a centralised risk unit
Central banks with a centralised risk unit tend to use KRIs
Bank of Canada pilot explores transitional risks of climate change
Six financial institutions joined the central bank and financial regulator in auditing their assets
Financial risk most staffed function
Risk management team sizes vary considerably between central banks
Bitcoin’s carbon footprint rises with prices – DNB research
Total carbon emissions produced by crypto assets rose by 25% in 2020, study finds
Few central banks cover environmental risk
Central banks list environmental risk as a minor source of risk