Data
Digital pound would help resist ‘walled gardens’ – BoE’s Cunliffe
Tech firms may be able to quickly gain payments dominance, which a CBDC could break
Lawmakers join pushback over SEC dealer rule
Bipartisan letter to Treasury says proposal would damage market liquidity
BoE launches design phase of ‘digital pound’ project
UK likely to issue central bank digital currency as anchor for monetary sovereignty
BoE’s Mann: high-frequency data points to possible ‘turning point’
Several indicators hint at a turn in inflation, but the MPC member wants to see more evidence
Risk Management Benchmarks 2023 – executive summary
Key results from the 2023 benchmarks, including risk priorities, organisational structure and metrics
Over four-fifths of banks have yet to update APP risk mitigants
Most emerging market institutions plan to improve climate provisions in near future
Financial risk teams have higher staffing ratio than other units
Cyber risk and other threats prompt greater staff allocation to sub-units
Financial risks report published across 75% of jurisdictions
Frequency of publications and levels of transparency vary across jurisdictions
Centralised departments more likely to face new responsibilities
Respondents reported changes in risk approaches to the environment, and banking and insurance supervision
Risk management staff earn many multiples of per capita income
Risk managers paid more in richest jurisdictions but poorer countries still pay competitive wages
A suptech transformation: using tech to support the full supervisory lifecycle
Regnology explores how – with the appropriate platforms, partners and processes in place – supervisory technology can be utilised as a driver of transformation.
Use of defined project risk and delegated risk metrics declines
Around three-quarters of central banks have distinct institutional risk appetite
ISO 31000 remains top framework for risk managers
Majority of banks blend international frameworks with domestic solutions
Most central banks still not using GRC systems
AE respondents more likely to favour integrated system versus EME counterparties, in a reverse to 2022
Monetary tightening has ‘rapid’ effect on spending – BIS paper
Study finds conventional policy tools have bigger impact on consumption than unconventional ones
Most central banks track key risk indicators
Few banks consider improving current scope of KRIs, others to unveil soon
Fewer than half of central banks have a CRO
Risk management committees more popular, present in more than four-fifths of jurisdictions
Most central banks completed risk management review in 2022
Overall, 63% of institutions carried out internal audit and management reviews, 48% a external review
Cyber security topples reputational risk as first concern
Overall, close to 39% of institutions place cyber as their top concern, 20% select reputational factors
Market and personnel become key rising risks for central banks
Over 47% of institutions highlight one of these two factors as the fastest-growing risk
Risk Management 2023 charts
Take a deep dive into the Risk Management Benchmarks charts, which have just been released for 2023
Cyber security remains most pressing risk for central banks
For second consecutive year it is singled out as the risk rising the most
Central banks report scant progress on climate risk capabilities
Just 9% of participants have a climate change risk unit, up from 7% last year
Fewer central banks have a centralised risk unit
Share of institutions deploying this structure falls from 66% to 48.5%