Euro
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
BoE to wind up euro liquidity facility
Improvement in funding market conditions means euro funding is no longer needed, BoE says
Finalising Basel III is crucial for the EU banking sector
EU banks stand to be more heavily impacted by Basel III finalisation, but that is not a good reason to hesitate, says Pedro Duarte Neves
Technology is the best bet in fighting money laundering
Danish FSA chief Jesper Berg says there is a need to think ‘outside the box’ on AML, rather than blame flawed regulatory and institutional design in dealing with corrupt money flows
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
The ECB’s monetary policy strategy review
The ECB’s founding monetary policy architect, Otmar Issing, offers some initial perspectives on the ECB’s strategy review
ECB launches digital euro project
Central bank supports European Commission plan for e-identity rollout across the eurozone
Could higher US inflation boost euro’s international role?
Divergent rates of inflation on both sides of the Atlantic may compel investors to look for alternatives to the dollar, panellists say
Monitoring tools critical to measuring comms effectiveness
Facebook and YouTube remain most popular social media options, but some central banks are experimenting with others
O CBDC, O crypto! Wherefore art thou regtech?
Putting more investment and energy into regtech, instead of solely focusing on crypto and CBDC, would help to secure more of the expected benefits from digital evolution
Three ways to bolster flawed AML/CFT in the EU
The EU needs to significantly improve the structure and resourcing of its AML/CFT oversight if it really wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva
Climate risks narrowly concentrated among EU banks, report finds
Only 25 EU banks bear most exposure to physical risks of climate change, ECB-ESRB report says
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
EU blocks 10 major banks from bond issuances
Commission alleges lenders need to clarify previous antitrust breaches
EU common debt to boost euro’s international role – ECB
Currency still faces negative rates, fragmented debt market and lack of triple-A assets
Cash infrastructure as public good – implications for the cash cycle
Efforts are under way in the Eurosystem to safeguard cash infrastructure as a ‘public good’ even as transaction volumes have fallen significantly. How can policy-makers strike the right balance?
Dollar’s share of global reserves falls to 25-year low
Gradual decline may stem from currency diversification by emerging market central banks - IMF report
The evolving ‘strategy function’ in central banks
Some institutions participating in a survey of 27 central banks still struggle to fully harness an effective ‘strategy function’, according to the ECB’s Jean-Charles Sevet and Alejandro de la Cuesta
BIS to operate sterling liquidity facility backed by BoE
Move echoes 20th century arrangements when BIS acted as intermediary in swaps network
DNB survey finds 49% of respondents ready to use digital euro
Over half of sample had not heard of central bank-issued digital currency, survey finds
Central banks take less than 50 minutes to fix critical outages
Time tolerances for critical system downtime range from one to 32 hours
High income economy central banks’ technology costs vary widely
Some central banks in advanced economies have kept costs as low as those in poorer nations