Reserves
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
IMF mission worried about Mongolian central bank
Bank of Mongolia’s operational independence has been compromised, says fund
Central bank independence helps build reserves – researcher
Latin American central banks given independence built up strong FX reserves, paper finds
State Bank of Pakistan hikes interest rate by 150 basis points
IMF reached “staff-level” agreement with Pakistan for long-awaited loan two days after the hike
Turkish currency hits new low as central bank cuts rates again
Move follows Erdoğan’s dismissal of two deputy governors and one MPC member
Reserve Benchmarks 2021 report – executive summary
Findings on liquidity management, strategic asset allocation, technology resources and green investments
Sri Lankan central bank takes emergency measures as FX crisis deepens
Central bank will securitise remittances to fund reserves, but statement hints at steep fall in inflows
ESG reserves adoption challenged by reliance on sovereign bonds
Higher issuance of government-compliant bonds is insufficient to offer investable alternatives to central banks.
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections
Saudi Arabia gives $3 billion to Egyptian central bank
Donation is pandemic aid, and follows similar deposit with Pakistan central bank
Interoperability of stablecoins
Central bank reserves could be a better option for backing stablecoins than Treasuries, say Manmohan Singh, Caitlin Long and Charles Kahn
Saudi Arabia boosts Pakistan’s reserves
Package from Saudi development fund comes as Pakistan’s balance of payments issues ease
Reserve Benchmarks 2021 report – in search of liquidity
Insights on portfolio management during the Covid-19 shock, staff and technology adaptation during the crisis, and the rise of green bonds as a reserve asset
Nordic central banks stress limits to tackling climate change
Central banks face challenges in greening reserves management and monetary policy
Central banks sign up to Fed’s Fima facility
Reported usage is marginal, but backstop is highly valued by reserve managers
Custodian use in upper-middle income economies declines
Unstable jurisdictions, such as Afghanistan or Venezuela, face risk of losing access to assets held abroad
Bespoke indexes often used with derivatives and securities
Central banks using bespoke indexes are more likely to lend securities
Europe leads on gold lending and swaps
Just over 20% of central banks engage in these operations
Technology reserve staff levels hold during pandemic
Remote work posed an operational challenge
Reserve coverage remains at adequate levels despite Covid
FX interventions to tackle capital outflows have not meaningfully reduced portfolios globally
Podcast: Paul Fisher on the future of balance sheet policy
Central banks must think about the composition of their balance sheets, the former BoE official says
Central banks divided on liquidity stress tests
Central banks with lower reserves more likely to forgo the measure
BIS launches third green bond fund in Asia
Asian Development Bank and BIS aim to foster issuance of safe green assets