Investment
Book notes: The bank that lived a little, by Philip Augar
History of British commercial bank Barclays fails to address key questions, writes Michael Taylor
Turkey reinforces monetary tightening with fiscal caution
New economic plan considered appropriate by analysts, but currency instability remains
Market power, intangibles and risk premia behind low risk-free rates – paper
Brookings paper questions savings glut and technological slowdown hypotheses
IMF warns low-income countries about higher debt risks
Increased exposure to non-traditional lenders could increase rates and shorten maturities
An informed approach to banknote security and durability
De La Rue explains how its data consultancy service, DLR Analytics, allows central banks to ensure notes in circulation are secure and durable, and offers value for money in spite of increasingly prominent alternative payment solutions. By facilitating…
ECB calls for changes to draft investment firm regulations
EU proposals omit macro-prudential measures and could cause statistical problems, ECB says
Global crisis uncertainty harmed investment – BoE paper
Authors say their results offer a benchmark for possible Brexit-related uncertainty
Passive investing boosts some risks and cuts others – Fed paper
Authors assess four ways the surge in passive investing might impact stability
Saudi SWF seeks massive bank loan as Aramco’s IPO is delayed
PIF intends to increase its assets to $400 billion in 2020 from $224 billion in 2017
Book notes: Capitalism without capital, by Jonathan Haskel and Stian Westlake
The authors have created a compelling framework to characterise and explain the nature of intangible investments in our economies, writes Michael Reddell, but their conclusions are lacking in analysis and data
Denmark’s exchange rate stable despite greater FDI inflows
Large international investments absorbed by krone market, central bank says
Saudi investment fund boosts technology portfolio
The fund has reportedly acquired 3-5% of US electric car maker Tesla
Big data in central banks: 2018 survey results
As work in big data enters the mainstream for central banks, its policymaking and supervisory influence is expanding, prompting significant investment in new technologies.
Survey indicates bitcoin’s purpose changed over the last year
Main reason cited for owning bitcoin shifted from transactions to investment between 2016 and 2017
Irish SWF set to become first to divest from all fossil fuels
Fund has in the past argued “engagement” is more effective than divestment
Book notes: Unfinished business, by Tamim Bayoumi
Anand Sinha praises Bayoumi’s analysis of how the euro crisis and US housing crash were, in fact, intertwined
Alternatives to Japan’s 2% flexible inflation target
The Bank of Japan may review its policy framework, given its five-year failure to hit a 2% flexible inflation target
BoE’s profits dip on higher banknote and research expenditure
But total expenditure comes in below budget due to lower headcount than expected
China eases restrictions on foreign investors
New rules allow qualified foreign investors to move funds more freely out of China, a step forward on capital account liberalisation
Time for Central Bank of Argentina independence
Monetary financing has fallen sharply under Mauricio Macri’s administration, but must now end; independence law would help efforts to shatter Argentina’s inflationary shackles
Pakistan strengthens China ties with expanded swap agreement
Doubling of swap line is latest in a series of sometimes controversial integration measures
US rates will rise less than in previous expansions – Fed’s Williams
Higher savings and lower productivity growth means “new normal” will continue, Williams says
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.
Climate change risks ‘already with us’ – BoE’s Breeden
Sarah Breeden urges financial firms to take action on both opportunities and risks