Coronavirus
China appoints two new PBoC policy members
PBoC gets two new monetary policy members as IMF warns of rising stability risks
Financial market infrastructure services: Bloomberg
Bloomberg’s responsive deployment of new liquidity capabilities helped emerging-market central banks cope with pandemic market disruption
Payments and market infrastructure development – retail: Central Bank of Hungary
The Hungarian central bank’s strict implementation requirements and unique operational setup has supported the acceleration towards electronic payments during the pandemic
US regulators end leverage ratio exemption
Fed, OCC and FDIC stick to March 31 end date despite reports of industry lobbying
RBA opened banknote contingency site during pandemic
Strength of banknote demand during pandemic was ‘unprecedented’, RBA bulletin says
Future of cash: what we can learn from the history of money
Central banks must take a broad view of efficiency if they are to preserve the benefits of cash, says Antti Heinonen
Credit line exposures worsened Covid bank stock crash – NBER paper
Authors suggest “contingent leverage” could be included in stress tests
BoE holds interest rates as MPC members differ over risks
MPC points to signs of stronger recovery but also uncertainties around household spending
Brazil’s central bank raises policy rate
MPC signals it is ready to raise rates at May meeting in response to rising inflation
Fed keeps policy rate steady
Jerome Powell says FOMC will hold policy until it sees “actual progress, not forecast progress”
Eurozone inflation remains stable
Official figures show inflation at 0.9%, unchanged from January
Pandemic likely to worsen market concentration – IMF research
Authors warn rising market power tends to impair monetary and fiscal policy
Central Banking Awards 2021: second group of winners announced
Lifetime achievement award unveiled, plus awards for transparency, advisory, global markets and more
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
Advisory services: Oliver Wyman
The consultancy has built a reputation for analytical excellence and governance expertise, and counts leading central banks across the globe as its clients
Global markets award: BNP Paribas
The bank shone across a wide range of business areas and regions during the turbulence of Covid-19
New monetary frameworks involve risk trade-offs – IMF’s Adrian
Lower-for-longer rates may help to avoid deflation, but could contribute to medium-term volatility
IMF delays SDR valuation review
Delay reflects priority placed on Covid-19 response and possible clash with other workstream
Belize central bank law to allow bigger loans to state
Amendments come amid debt crisis as IMF warns country to defend currency peg
US fiscal stimulus key factor for inflation in Mexico – governor
Banxico governor stresses importance of investor’s portfolio changes ahead of next policy meeting
Reserve manager of the year: Bank Indonesia
The Asian central bank stabilised the rupiah’s fall during the Covid-19 pandemic in large part due to its new macro-factor strategic asset allocation framework
Governor of the year: Alejandro Díaz de León
Díaz de León has upheld the authority, integrity and independence of the Bank of Mexico against significant external and internal pressures
Innovation in reserve management: World Bank Treasury/ANZ Bank
The pair developed a Swift-based messaging app to manage faster and safer cash operations for central bank members of Ramp at the height of the pandemic
Asset manager: BNP Paribas Asset Management
The European asset manager has leveraged its focus on official institutions, expertise in MBS, training, reporting and ESG compliance to grow its business with central banks