Reserves
Non-dollar stablecoins could spur greenback’s decline – BdF deputy
Central banks should embrace, not oppose, financial innovation, Bénassy-Quéré argues
Options for realising gold revaluations
Is monetary gold a special case in central bank revaluations accounting?
Many managers assess reserves with benchmarks and other approaches
Central bank board remains top body granting approval for reserve benchmarking
European central banks shift reserves from US Treasuries to euro assets
US Treasuries still make up largest share of respondents’ reserves globally
The weaponisation of payments
Central banks must integrate geopolitical resilience into their payment oversight, argues Biagio Bossone
Two in five large reserves holders reduce dollar allocations
Yet central banks’ FX holdings remain broadly denominated in US currency
Reserve managers widely satisfied with staff strength and resources
Large reserve management teams tend to earn higher salaries
Geopolitics, crypto and inequality are systemic risks – ESRB panel
Geopolitical risk is shaping markets, institutions and the financial system, says Olli Rehn
Central banks purchasing less gold, says WGC
July figures show a slowdown in net purchases of the precious metal
No ‘race to the bottom’ if Fed is forced to cut – Schnabel
ECB board member says politicised US central bank would be “very disruptive”
Sri Lankan inflation back in positive territory
Central bank says prices are rising for first time since it changed policy framework last November
A not-so-stable Genius Act?
New stablecoin rules raise monetary sovereignty and financial stability concerns
North Macedonia reshuffles reserve requirements
Central bank eyes more long-term, dinar-denominated savings and stronger deposit base for banks
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Chile launches programme to shore up FX holdings
Central bank aims to increase reserves by 40% and reduce role of foreign currency credit lines
More independent central banks take on greater risk – ECB paper
Low rates, tighter fiscal policy and good growth accompanied by higher risk-taking on balance sheets
Book notes: Making money work, by Matt Sekerke and Steve H Hanke
This book provides a critique of the post-crisis monetary and financial system, proposing changes that deserve to be broadly read
Kazakh central bank denies it is adding crypto to reserves
National Bank of Kazakhstan says “no decision has been made” on strategic crypto reserve
BoE and Treasury’s ‘productive tension’ over stablecoins
Experts say Reeves’s bullishness and Bailey’s more bearish stance on assets may be all to the good
Botswana increases pula crawl rate to defend reserves
Central bank will also charge lenders higher margins to access FX
Tobias Adrian on the integrated policy framework amid tariff shocks
The IMF’s financial counsellor speaks about policy reaction functions to supply and demand shocks, scenario-based analyses, Treasury market dynamics and emerging market resilience
Central banks need common accounting standard – Honohan
Former Irish central bank governor calls for policy-makers to report portfolios at fair value