Data
Cloud used for business continuity and advancing computation
Most institutions rely on third parties for services
How US demographics complicate the Fed’s job
Ageing population and pandemic legacy are confounding economists’ predictions
Retail CBDC work more common than wholesale
Most jurisdictions still lack a legal mandate to issue a CBDC
Central banks are bullish on environmental features of CBDC
A minority of respondents’ jurisdictions prohibit crypto assets
Improving payments efficiency drives wholesale CBDC work
Advanced economy institutions lead efforts
Richer nations more likely to have regtech strategy
Regtech tools commonly used for risk assessment
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments
FSB outlines crypto and defi risks to financial stability
Future work will map “oracles”, “bridges” and other links with traditional finance
Innovation hubs more common in advanced economies
Sandboxes remain most popular fintech initiative
Fed officials say rates may have to rise despite CPI fall
Harker, Bowman, Williams and Logan sound hawkish notes in speeches
Two in five central banks report having a suptech strategy
Enhancing efficiency is a key driver
EME central banks more likely to license fintech firms
Most institutions choose activity-based approach over other licensing methods
Payment innovation is top priority for fintech research
CBDCs and suptech are also leading focus areas for development
China imposes stricter risk classification rules on banks
Regulators say the rules will help banks mitigate credit risks
Half of central bank respondents have a fintech strategy
Most strategies cover the external payments ecosystem and internal fintech development
Inflation in Baltics set to remain highest in euro area
Charts highlight divergence between eurozone members
Crypto ‘mixer’ regulation could be simple – Fed research
Counterparties could be obliged to follow similar rules as for cash
Current regulation ‘not fully fit’ to handle big tech – Carstens
BIS chief offers ideas for new regulatory framework to govern data-focused platforms
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