Regulation
Majority of CBDCs designed to be domestic only
But a fifth of central banks are working on multi-currency CBDCs
Fintech licences issued yearly remain below 10 on average
Number of fintechs in operation averages just over 60
Central banks keep trialling link between wCBDC and RTGS
Most respondents motivated to issue wCBDC to enable financial innovation
Repeat of past mistakes fuels risk of new crisis
Jesper Berg and Hans Geeroms argue that bank lobbying has succeeded in securing a dangerous softening of rules
Majority of central banks still lack CBDC issuance powers
Legal mandates are scarce in both larger and smaller central banks
Two in five CBDCs designed to be programmable
Over half of respondents’ retail CBDC projects are at research phase
Study calls for twin-pronged macro-pru approach to shocks
Higher capital and CCyB are both needed to mitigate threats to stability, say Bank of Italy authors
Brunei to focus on Islamic and sustainable finance
Central bank says it has no plans to introduce a CBDC or stablecoin regulations
China says tokenisation illegal under existing framework
PBoC and agencies update 2021 crypto guidelines to place restrictions on real world assets
EU banks need more control over their data – DNB board member
Chair of supervision says tech, finance and public sector need to work together to reduce dependencies
UK clearing houses face tougher capital regime than EU peers
Ice resists BoE plan to move second skin in the game higher up capital stack, but members approve
Taiwan rejects accusation of ‘backdoor currency manipulation’
Central bank says it ‘cannot and will not’ have upper limit for New Taiwan dollar
ECB seeks capital clarity on Spire repacks
Dealers split between counterparty credit risk and market risk frameworks for repack RWAs
Fed fractures post-SVB consensus on emergency liquidity
New supervisory principles support FHLB funding over discount window preparedness
ECB tweaks collateral framework, ‘paves way’ for DLT-based assets
Bank clarifies ‘climate factor’ in securities pricing, introduces haircuts on sterling, dollar and yen assets
BoK debuts bespoke AI for central bank use
Technology trained on Korean language inputs will aid research and compliance, Bank of Korea says
Risk management reviews are most common assessment method
Centralised teams are less likely to conduct external or management evaluations
UK’s Orange Book risk approach rarely used by central banks
Only three centralised risk management departments utilise principle
China’s interest-bearing CBDC a world first, experts say
E-CNY now more integrated with commercial banking, thus solidifying country’s two-tier system
BoE’s Ramsden defends UK’s ring-fencing regime
Deputy governor says rules remain “critical” to regulatory framework amid review to reform them
Staff error is largest cause of op risk at central banks
Legacy systems tend to trigger most threats in jurisdictions with greater than average number of incidents