Investment
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
Williams also expects US to avoid recession this year
Unemployment will likely rise to 4% as growth slows due to tightening process, says NY Fed head
BIS balance sheet buffeted by market turbulence
Institution still turned a profit in the year to March 2022
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak about ‘twin bonds’ and other efforts to deal with liquidity issues
Book notes: A full-value ruble, by Kristy Ironside
Soviet experience shows MMT worked, only with far more challenges and downsides than promoters envisioned
The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals
Saudi sovereign wealth fund sets up national coffee company
Coffee venture is part of national diversification plan
The international effort to manage NBFI risks: where do we stand?
Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-pru issues
NBU restricts crypto purchases to stem capital outflows
Ukraine continues to accept bitcoin, ethereum and tether for war effort
Climate transition set to boost inflation, finds Swedish research
Sveriges Riksbank analyses main inflationary forces stemming from climate policies
PBoC announces policies to help pandemic-stricken economy
Package of 23 measures echoes actions taken in 2020
Gas investments important for energy security, UK’s Sunak tells BoE
Chancellor of the Exchequer urges officials to support government’s energy security policy
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Risk management technology: BlackRock’s Aladdin Risk
ESG feeds, customised benchmarking and robust scenario analysis assist reserve management
Abu Dhabi wealth fund to “pause” Russia investments
Mubadala CEO calls Ukraine war “a travesty”, but fund has small Russia exposure
CCP collateral regulation could limit procyclicality – BoE paper
Requiring CCPs to reinvest cash collateral can help reduce procyclicality during stress, authors find
Book notes: Shutdown, by Adam Tooze
Useful overview, showing intimate intertwining of geopolitics with health and economic policies
BIS paper finds benefits from ‘deconstructing’ ESG scores
“Best-in-class” strategy can overcome problems with other approaches, authors say
MAS’s Tharman urges investor action on global instability
War, stagflation risk, climate crisis, pandemic and uneven growth create “perfect long storm”
BIS targets green bond growth with launch of Asian fund
“We expect a fast-growing market for green bonds,” says BIS banking head Peter Zöllner
Change at the Bundesbank: from Weidmann to Nagel?
Politics at the apex of German central banking amid Buba/ECB discord
Emerging market stock returns impacted by dollar – BIS paper
US dollar can drive local financial conditions in equities as well as other markets, authors say