Euro
Central banks still value diversification, say reserve managers
Rise in US yields does not outweigh the benefits of forex diversification, say delegates attending Nalm Americas
Book notes: Edge of chaos, by Dambisa Moyo
John Chown applauds Moyo’s analysis of how the current democratic framework is failing
Italian governor warns country must not abandon EU rules
Former IMF official named as interim prime minister by Italy’s president
Risk-based supervision focus report 2018
This first Central Banking journal focus report on risk-based supervision analyses how central banks, financial regulators and financial institutions can streamline efforts to meet onerous new regulatory and supervisory data requirements.
New risks and opportunities
Central Banking convened a panel of experts to discuss how central banks and other authorities are making use of new risk-based assessment techniques to remain ahead of the fintech curve.
Artificial intelligence: The future of regulation?
The raft of new rules imposed on regulated financial institutions in the aftermath of the global financial crisis has a huge compliance cost. Could artificial intelligence offer efficiency gains?
Official reserve management in the 21st century
A lack of operational clarity and reluctance to view reserve portfolios holistically have prevented optimal, rules-based approaches to reserve management becoming commonplace. BlackRock‘s Terrence Keeley, Stuart Jarvis and Michael Palframan explain how…
The move to risk‑based supervision
Rapid regulatory change has led to a steep increase in data volumes and policies, and a new environment has opened up for discussions on effective regulatory supervision and a transition to risk-based supervision.
Andreas Dombret on ECB policy, deposit insurance and Basel III
The Deutsche Bundesbank executive board member speaks about exiting QE, the viability of European deposit insurance, the German banking system and doing a deal on Basel III
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
A route to economic growth – The Belt and Road Initiative 2018 survey
To mark the fifth anniversary of the Belt and Road Initiative (BRI), the IFF – in collaboration with Central Banking – conducted its inaugural Belt and Road Survey of central banks from more than 25 countries and regions. The survey examines BRI…
European Commission proposes uniform cost for trans-EU euro payments
Dombrovskis also calls for EU-wide transparency on currency conversions
Issing sees ‘uncertain future’ for central bank independence
The eurozone architect warns central banks that overreach open themselves to political attack
Book notes: A diary of the euro crisis in Cyprus
Panicos Demetriades’ book tells the inside story of the Cypriot crisis and how battles over central bank independence led ultimately to his resignation
SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds
New South African president supports pan-African currency
Cyril Ramaphosa says it is time Africa abandons “colonial mentality” and adopts common currency to foster investment and intra-African trade
Lithuania to launch ‘digital’ commemorative coin
Central bank will host a “hackathon” to decide on technology to underpin the digital asset
Book notes: How global currencies work, by Barry Eichengreen, Arnaud Mehl and Livia Chiţu
A comprehensive introduction to the history of global reserve currencies, with analysis of how advances in technology and the structure of trade have reshaped the landscape
Ireland withdraws Lane’s nomination for ECB vice president
Spain’s de Guindos likely to take up role, but Irish may suggest Lane for the chief economist post
Latvian police detain central bank governor on corruption charges
Rimšēvičs says charges are totally unfounded
Algo trading harmed market during Swiss franc crash – paper
Algorithmic traders tended to “consume liquidity and reinforce the price disruption”
Eurozone needs structural reforms to realign real exchange rates – Italian paper
Real exchange rate misalignments persist for longer in eurozone, researchers say
BIS and IMF offer joint course for financial supervisors
Lagarde and Carstens say the two organisations will increase joint efforts at capacity-building
Banks running out of time to make post-Brexit eurozone applications
Banks looking to relocate should apply “by the end of the second quarter” – ECB supervisor Lautenschläger