Foreign exchange
FX market intervention key tool for emerging market economies
Central bank markets departments perform a wide range of different roles
Myanmar authorities shut banks amid growing crisis, report says
Private banks closed from August 16 to August 22 amid ongoing cash crisis, reports allege
From Covid‑19 recovery to a greener economy
BNP Paribas asks, in a world challenged by the Covid‑19 pandemic and empowered by recovery from it, what’s next for the central banking sector? Also discussing how banks and central banks can collaborate to encourage sustainable growth and build a better…
Fixing market-based finance: duct tape or deep reform?
Central banks are increasingly having to act as market-makers of last resort. But deeper reforms may be needed to avoid stretching their balance sheets to breaking point
Less chance of “taper tantrum” in emerging markets – Dallas Fed paper
Emerging markets have larger dollar reserves to meet financing disruptions
Majority of retail payment systems lack real-time processing and settlement
Over half of RPSs in emerging market economies were owned by central banks, but in advanced economies this fell to less than a quarter
Lebanese politicians condemn governor for ending fuel subsidy
Salameh says he will not resume subsidy unless parliament allows use of mandatory reserves
SNB research highlights trade-offs in use of capital controls
Financial stability benefits come at cost of curbing job creation, authors find
Book notes: The pay off, by Gottfried Leibbrandt and Natasha de Terán
A timely introduction to and accessible survey of payment system developments
Bank Indonesia bolsters FX settlement with Japan and Malaysia
BI continues to promote local currencies in a bid to “reduce dependence on the US dollar”
The renminbi in focus: reserve managers see promise
Reserve managers see potential in the renminbi and expect the International Monetary Fund to increase its weighting at the next special drawing rights reassessment
The renminbi’s inclusion in the SDR adds impetus to its internationalisation
Bank of China (Hong Kong) highlights the importance of opening up the onshore renminbi (RMB) foreign exchange market and improving the development of offshore RMB FX markets
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
SNB reserves hit Sfr1 trillion
Equity holdings now account for 23% of the portfolio
China’s capital controls: here to stay?
With China’s share of the domestic central government bond market significantly increasing in just a few years, and the International Monetary Fund including the renminbi in its special drawing rights basket of currencies, China is enjoying growing…
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.
Surveillance and suptech innovation in central banks
Tony Sio, Nasdaq’s head of marketplace regulatory technology, explains the role market surveillance tools play in central banks’ suptech portfolios.
Vietnam central bank and US Treasury sign currency pact
US had briefly labelled Vietnam a “currency manipulator”
Sri Lanka central bank imposes capital controls
Measure restricts exports of foreign currency as government faces debt challenge
South African Reserve Bank: the first 100 years
Central bankers and academics reflect on a tumultuous first century for Africa’s oldest central bank
China abandons cryptocurrencies under the PBoC (this time it’s for real)
New data centres set to be established to compensate provinces for lost crypto mining revenues
Cuba bars dollar cash deposits
Country struggling with sanctions as inflation spirals
Bank of Ghana launches local gold-buying programme
Central bank aims to double gold reserves over the next five years and support local mining industry
Central bank profits under pressure
The structure of a central bank’s portfolio and its relationship with shareholders can affect shock-absorbing capital and the amount of profit distributed