Legal
Bangladesh Bank heist casino boss faces lawsuit in New York
Bank asserts Kim Wong was involved in money laundering for North Korean regime
Chilean convention proposes central bank reform
Draft constitution would give central bank broader mandate and larger council
Myanmar junta brings charges against former deputy governor
Military regime accuses Bo Bo Nge of corruption, 15 months after he was first arrested
Central African Republic makes cryptocurrency legal tender
War-torn state is second country to give crypto official status, after El Salvador
Paraguay legislative committee rejects crypto law
The central bank issued strong objections to the law, which passed the upper house in December
São Tomé president rejects firing of governor
Prime minister moved to replace Américo Barros after governor contested party leadership
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
Paraguay legislators clash with central bank over secrecy rules
Legislators considering changes to central bank law
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
Riksbank reports on e-krona pilot’s performance
Pilot CBDC can integrate into payments systems, but met potential AML and performance problems
Chinese draft law sets up financial stability fund
New government committee would oversee financial stability as concerns grow
Vietnam developing crypto legal framework
Country banned crypto as a means of payment in 2017
Transparency: Czech National Bank
New monetary policy report, and publication of attributed minutes and economic model raise the bar for disclosure
More central banks have diversity and sustainability policies
But these policies remain less common than codes of ethics and whistleblower policies
Honduras central bank warns on bitcoin again
Central American country will not follow El Salvador in making bitcoin legal tender, BCH says
Governor of the year: Mario Marcel
Chile’s governor has expertly navigated a third currency crisis in two years, amid wider EM stress and political volatility, while bolstering the central bank’s capabilities
Book notes: Shutdown, by Adam Tooze
A useful, wide-ranging overview, showing how health and economic policies are intimately intertwined with geopolitics
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
How supervisors can step up the AML fight
Marcus Pleyer, president of the Financial Action Task Force, says digital tools, stronger co‑operation and risk-based methods can give supervisors an edge. But threats are still proliferating
Data quality and staff skills are greatest AI challenges – benchmark respondents
Privacy and algorithmic fairness are also concerns
Diego Labat on policy normalisation, capital flows and tech challenges
The Central Bank of Uruguay governor speaks with Christopher Jeffery and Ben Margulies about governance, financialisation, flexible rates versus capital controls, payment upgrades and CBDCs
Book notes: Imagining the Fed, by Nicolas Thompson
A worthwhile perspective on the evolution of such an important institution, but a shame that it isn’t a longer and broader examination
Majority of central banks lack legal authority to issue CBDC
Technical CBDC design has legal implications