Reserves
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
IMF paper proposes ‘policy space index’
Authors try to quantify countries’ room to respond to a “black swan” event
Bolivian central bank wants to become sole buyer of gold
Proposal would allow BCB to use gold reserves as collateral or swap them for foreign exchange
Costa Rican central bank raises rates to highest level since 2011
Board also orders increase in reserve requirements from July as inflation remains over target
Argentina increases reference rate 300bp
Central bank says it anticipates inflation will fall despite continuing rise
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Central bank gold purchases back in positive territory
War and inflation appear to be supporting demand for the reserve asset
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*
Argentine central bank struggles to meet reserves targets
IMF signs preliminary agreement for loan payment but reports say BCRA cannot meet reserve target
Lesotho appoints new central bank governor
Acting governor Mohapi will become first deputy
IMF blog highlights rise of ‘non-traditional’ reserve currencies
Renminbi only accounts for a quarter of the shift away from dollars
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war
Rates round-up: Canada adds 50bp to main rate
Kenya orders first rate increase since 2015; Dominican Republic hikes 100bp; and more
Peru halves IMF credit line
Authorities say plan to phase out flexible credit line is mark of “very strong fundamentals”
Fed and foreign investors earn lower returns on Treasuries, paper finds
Foreign investors tend to buy Treasuries when they are “expensive and offer low future returns”
Costa Rican authorities tell president reserves are sufficient
Chaves had complained of “very few reserves” at Davos
Algerian president replaces central bank governor
Saleh Eddine Taleb becomes sixth head of Bank of Algeria in as many years
Does Switzerland need an SWF?
A sovereign wealth fund could adopt longer-term strategies, invest in less liquid assets and increase exposures to riskier assets such as equities, potentially boosting returns
Chile signs up to IMF’s first short-term liquidity line
Revolving $3.5 billion credit will replace flexible credit line arrangement
Interpol cancels red notice for Suriname ex-governor
Police body will not involve itself in a case that has a political character
How to stop stablecoins from hoarding precious collateral
Repo markets expert and crypto bank chief exec think Fed reserves are the right answer
Austria’s Partsch explains decision to raise equity exposures
Central bank boosted equity investments from 5% to 12% in the wake of the pandemic
Bangladesh Bank heist casino boss faces lawsuit in New York
Bank asserts Kim Wong was involved in money laundering for North Korean regime