Conduct
Guy Debelle on the future of the FX Global Code
Code’s creators considering updates to sections on last look and pre-hedging
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021, despite CFTC saying 2,400 companies still exposed and Fed extending some US libor contracts until mid-2023
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
UK government pledges economy-wide climate disclosures by 2025
FCA says firms worth $3.8 trillion will disclose climate risks over next three years
Currency Benchmarks 2020 report – the data behind the cash cycle
Perspectives on staffing, circulation, forecasting, fraud, substrate choice, outsourcing and climate risk
Regulators fine Goldman $2.9 billion over 1MDB
DoJ says bribes were largest it had discovered, as UK regulators fine US bank $126 million
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
BoE may update resilience guidance, post-Covid
Granular targets on minimum service provision after outages could be revisited, adviser suggests
FCA increases guidance to big tech around consumer protection
UK regulator mulling whether it needs new powers to ensure firms like Google do not exploit customers
UK regulators extend complaints review after pressure from lawmakers
Outgoing complaints commissioner says proposed changes raise “significant policy issues”
Knot warns deviations from global standards must be temporary
“If the US starts distancing itself from international standards, that is quite something,” says Dutch central bank chief
Experiment finds bonus caps can reduce risk-taking
BoE paper says bonus caps can work, in contrast to earlier work by the central bank and comments by senior officials
Covid-19: a watershed moment for China’s BRI?
China faces a delicate balancing act when it comes to forgiving and restructuring Belt and Road Initiative debt while preserving the soundness of its financial institutions
Computing platforms for big data and AI
Implementing big-data and high-performance computing platforms is critical to support machine learning applications. Rafael Schmidt and Bruno Tissot offer insights on developing a comprehensive information strategy
A better way to buy private sector securities?
Central bank asset purchases can do more harm than good and are often conducted on a flimsy legal basis, writes HKU’s Bryane Michael
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
Debelle: regulation could be ‘helpful’ to FX code
As EU weighs regulation of spot market, GFXC chair dismisses key industry argument
Andrew Bailey approved as Bank of England governor
Treasury Committee “satisfied” after grilling the outgoing FCA chief
Andrew Bailey defends record in parliamentary grilling
Prospective BoE governor says he faced a “huge task” in “rebuilding” the FCA, though he admits he is “not proud” of some things that happened during his tenure
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
Lifetime achievement award: Otmar Issing
The architect of the euro’s monetary operating framework is still playing an important role in shaping the debate on monetary policy
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform