Reserves
Book notes: Robert Triffin, by Ivo Maes with Ilaria Pasotti
Triffin’s story is well told by Maes, whose extensive personal and academic research shines through on page after page
Bank of Finland targets 2050 carbon neutrality for investments
Greening FX reserves will only be possible if countries meet their Paris climate goal, central bank says
Majority of central banks have power to issue debt for monetary purposes
Central banks pointed to draining liquidity as a reason for issuing debt
Central banks can improve reserves handling – World Bank
Direct board involvement, trading office setups and finance ministries all matter, report finds
Fixing market-based finance: duct tape or deep reform?
Central banks are increasingly having to act as market-makers of last resort. But deeper reforms may be needed to avoid stretching their balance sheets to breaking point
US and IMF block Taliban access to Afghanistan assets
IMF will not allow Taliban to receive SDRs, while US freezes central bank reserves
Mexican president demands IMF assets from central bank
Governor rejects proposal and former presidential ally says it would be legally impossible
Less chance of “taper tantrum” in emerging markets – Dallas Fed paper
Emerging markets have larger dollar reserves to meet financing disruptions
Taliban unlikely to gain immediate access to most DAB assets
Likely asset freeze and fall in currency may lead to hyperinflation, analyst warns
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines if they are to fix market mispricing, says Sayuri Shirai
IMF governing board signs off on ‘historic’ SDR allocation
Decision paves way for $650 billion worldwide infusion of liquidity later this month; mechanism for rich countries to pass on their share still unclear
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
SNB reserves hit Sfr1 trillion
Equity holdings now account for 23% of the portfolio
IMF executive board backs $650 billion SDR allocation
Allocation is set to be largest in the fund’s history, with launch expected in August
Could higher US inflation boost euro’s international role?
Divergent rates of inflation on both sides of the Atlantic may compel investors to look for alternatives to the dollar, panellists say
Sri Lanka central bank imposes capital controls
Measure restricts exports of foreign currency as government faces debt challenge
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
BIS pays out double dividend after bumper profit
Recovery from Covid-19 handed the BIS its second-largest profit in its history
Communications often involved at early stages of central bank policy
Most central banks say comms teams are involved in early planning stage of policy decisions
Fintech communication is most challenging for central banks
Central banks view fintech as greatest challenge, but rate monetary policy communication highly
Trends in reserve management 2021: survey results
Results of the 17th annual Reserve Management Trends survey of reserve managers conducted in February and March 2021
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
Bank of Ghana launches local gold-buying programme
Central bank aims to double gold reserves over the next five years and support local mining industry