Regulation
People: Saudi Central Bank appoints two vice-governors
BIS names heads of key committees; senior officials quit US Office of the Comptroller of the Currency
Knot says financial stability risks are growing
FSB chair says emerging economies are particularly vulnerable as financial conditions tighten
Swift gears up for innovation around digital currencies
Head of innovation at global payments messaging provider is focused on CBDCs, tokenised securities and artificial intelligence
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the hugely influential IMF founder and his work, but fails to resolve espionage charges
Big tech links are ‘policy blind spot’, says FSI
Basel-based institute says tech firms are “increasingly intertwined” with financial sector
Uruguay continues ‘contractionary’ monetary policy
Eighth consecutive rate hike is smallest since last November
IMF warns Iceland over bank privatisation and housing market
Some bank investors have conflicts of interest and housing market is overheating – report
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
Former RBNZ official questions board pick
Central bank and Treasury deny former NZ Post chair has disqualifying conflict of interest
US senator attacks regional Fed over fintech firm’s payments access
Kansas City Fed president Esther George refuses to release correspondence about terminating account
RBI deputy sees ‘miles to go’ despite progress on bank reforms
Asset quality of Indian banks has been improving, says Rajeshwar Rao
Zimbabwe central bank negotiates lower bread prices
Russia-Ukraine war and weak currency bring misery to southern African country
Legal certainty: the Achilles’ heel for CBDCs?
Many central banks lack legal certainty when it comes to issuing digital currencies, despite all the research and trials. Isn’t it time to get the lawyers involved?
Panama’s president vetoes parts of crypto law
Bankers’ association also opposes law, which president says lacks AML protections
Gender equality is key to sustainable development
Bank of Zambia deputy governor Rekha Mhango sets out the central bank’s strategy on financial inclusion
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
High income countries have larger share of staff devoted to payments
Structure of central banks’ payments sections differs across institutions
CBDC and bank intermediation in the eurozone
An assessment of the impact different ‘digital euro’ designs related to remuneration and usage limits could have on the banking system, including during times of stress*
Virtual asset service provider sues Fed
Crypto firm wants “master account” but critics warn of regulatory problems
Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers
Central banks and UN working to improve remittance data
Flows are critical income sources for many economies, but data is often limited
Fed’s Waller joins chorus of concern over crypto
Growing number of central bankers now talking about crypto regulation
Book notes: The future of money, by Eswar S Prasad
Prasad’s book is the best on the topic so far, providing the most complete description of issues and factors that will shape the future of money
People: former New York Fed chief Corrigan dies
New deputy governor appointed in Honduras; Bundesbank names head of research; and more