Data
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
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%; op risk overtakes rep risk as top concern
The strong dollar, global inflation and global recession
Steve Kamin asks whether the Fed’s tight policy is pushing the world towards recession
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
Economics Benchmarks 2022 charts
Take a deep dive into the Economics Benchmarks charts, which have just been released for 2022
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Brazilian governor outlines digital wallet and CBDC plans
Governor says CBDC model should avoid flight from bank deposits
Economics Benchmarks 2022 report – evolving models
Central banks continued to develop their modelling frameworks in 2022, as some longer-term trends in governance structures and research agendas emerged from the data
Earnings power of economists remains above GDP per capita
Emerging market professionals earn lowest median salary, but incomes still more than double national average
Most institutions use time-series models for forecasting
Use of models differs across jurisdictions by income size
More than half of institutions favour semi-structural models
Just 35% of institutions include financial sector in key modelling
