Regulation
Emerging markets at greater risk from stablecoins, FSB warns
Limited regulation, resourcing constraints and FX exposures create hazards for poorer countries
Minutes released with greatest lag in lower-middle income countries
Blackout period lasts seven days in most central banks
Money-supply targetters account for lowest frequency of policy meetings
Upper-middle income central banks set policy and publish reports at highest frequency
Basel Committee approves new stablecoin exposure framework
Details on new crypto asset and IRRBB rules, plus third-party risk consultation due out this month
Middle income monetary policy staff salaries fall behind peers
Officials in Europe and Africa tend to earn highest average annual income
EU central banks don’t want to ‘over-regulate’ AI
Lack of international co-operation may spur regulatory arbitrage, panellists warn
MPCs largest in inflation-targeting central banks
Government reps attend meetings in two-thirds of jurisdictions with other regimes
Irish central banker acknowledges ‘valid’ criticism of Dora timeline
New digital resilience regulation criticised for not giving firms enough time to comply
Monetary policy budget averages under $2 million annually
Budgets larger in high income, upper-middle income central banks
Briefing, analysis and research are monetary policy officials’ top duties
Average departmental staff remains below 40 persons
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
European Commission opens consultation on AI in finance
As AI use in financial services increases, regulators must balance innovation with risk
Attention shifts to US, UK after European Union postpones FRTB
Global timeline still unclear, with banks hoping lawmakers will use delay to soften rules
Start small to secure resources for AI, central bankers say
Data-driven results could demonstrate GenAI’s usefulness, Summer Meetings hear
Non-banks in RTGSs: greater efficiency or more risk?
Policy-makers and practitioners from central banks in Brazil, Hungary, Israel, Romania, Rwanda and the US share their perspectives
Remittance fees unregulated in most jurisdictions despite high costs
But central banks identify opportunities in cross border payments integration
Banks are main instant payments participants
Email address is central banks’ least-used payment channel
Two in five RTGS systems experienced outage last year
Majority of central banks plan technology upgrade within a year
Around two-fifths of central banks planning instant payments
Central banks processed instant transactions with average value of over $124 billion in 2023
Majority of central banks increased payment system budget in 2023
Nearly half of central banks say resourcing is not sufficient