Financial crisis
Covid-19 has accelerated paradoxical developments in cash usage
Antti Heinonen explores the unusual patterns in banknote demand in 2020
Pandemic is top stability concern for benchmark respondents
House prices, cyber crime and crypto assets are also major worries for central banks
Emerging nations favour different macro-prudential tools
Respondents from richer countries use counter-cyclical buffers more than emerging market peers
Yellen warns of ‘catastrophic’ effects of not raising debt limit
Treasury secretary says failing to raise ceiling would be a “manufactured crisis”
Elizabeth Warren publicly rejects Powell reappointment
Senator calls Jerome Powell “a dangerous man to head up the Fed”
Many central banks are sole macro-pru agency
Two-thirds of respondents say central bank alone can impose macro-pru restrictions
Wide range of financial stability arrangements among central banks
Boards are prime financial stability decision-making body at many participants
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
BIS chief speaks about policy trade-offs at a critical time, tech collaboration, tackling NBFIs and the dearth of ‘green’ assets
MMT and the challenge of fiscal monetary co-ordination
Sayuri Shirai contrasts modern monetary theory with regimes of monetary or fiscal dominance
Carolyn Rogers hits back at critics of Basel III
BCBS secretary-general dismisses “very tired” arguments against full implementation
Greening the central bank balance sheet, or not?
Paul Fisher, fellow at the Cambridge Institute for Sustainability Leadership and senior adviser for Oliver Wyman, discusses how central banks can act to contribute to mitigating and adapting to climate change, and identifies some worthwhile interventions.
Book notes: How boards work, by Dambisa Moyo
Moyo offers insights into the skills required to be a valued board director
An assessment of the ECB’s strategy review
Aspects of the framework raise challenges for implementation and credibility, while climate change inclusion may politicise the institution
‘Unstable, unreliable and temporary’: paper explores global co-operation
Policy-makers should heed JM Keynes’ 1919 warning, say Michael Bordo and Catherine Schenk
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.
Sanctioned disobedience: the challenge of protecting whistleblowers
Most central banks have policies on whistleblowing, but practice and usage vary widely
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 corrupt money
Expecting the unexpected
Lars Schröder, senior engagement manager at SkySparc, looks at what is driving shifts in central banks’ technology requirements.
Trust and comprehension seen as more important than audience size
Central bankers see trust as the most important measure of communications effectiveness
South African Reserve Bank: the first 100 years
Central bankers and academics reflect on a tumultuous first century for Africa’s oldest central bank
BIS’s Luiz Pereira on tackling the climate crisis
Deputy general manager highlights the challenge posed by radical uncertainty, the benefits of carbon budgeting, and the case for acting now
The IFF China Report 2021
Insight and perspectives from the world's leaders, premier policy-makers and financiers
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
Financial sector still a headache for central bank modellers
Macro-financial links are difficult to integrate into key models. But some central banks are making breakthroughs