Risk
BIS paper flags ‘notable gaps’ in CBDC research
Policy work on cross-border CBDCs is “marching beyond the research frontier”, say economists
CBDC issuance should not be rushed, say central bank experts
Officials at Singapore Fintech Festival warn central banks must be alert to risks of CBDCs
EU should demand banks set climate transition plans – Elderson
Officials acknowledge climate risk has become central topic, but say most institutions fail to meet supervisory requirements
MAS embarks on retail CBDC study
But Singapore sees no pressing need for retail central bank digital currency, MAS says
Riksbank studies link between equity prices and interest rates
Measures that do not directly account for interest rates can better explain historical prices
Centralised climate change teams crucial, central bankers say
As COP26 begins, central banks are focusing on improving governance of their climate actions
Nordic central banks stress limits to tackling climate change
Central banks face challenges in greening reserves management and monetary policy
Custodian use in upper-middle income economies declines
Unstable jurisdictions, such as Afghanistan or Venezuela, face risk of losing access to assets held abroad
Investment committees play dual reserve benchmark roles
Final decision made by committees at half of responding central banks
Kenya’s banks told to prepare climate risk plans by 2022
Central bank publishes guidance urging banks to integrate climate risk into broader risk management
CBDC just one option for future payment system, says BoJ official
Japan’s central bank says CBDC could solve safety and interoperability issues, but is not the only option
PBoC suffers headaches from growth, energy and Evergrande
Yi Gang mulls property sector risks, as China’s growth hits one-year low
Most central banks invest in derivatives
External managers facilitate wider use of these instruments
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
DNB calls on government to calm Dutch housing market
Tax reforms and greater supply needed to deal with “too much money and too few houses” – Knot
MAS consults on ‘Cosmic’ risk info-sharing platform
Digital platform for AML/CFT information sharing could be launched as soon as 2023
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
Podcast: Fintech and the question of central bank autonomy
Central banks should ensure their fintech activities do not undermine transparency and independence, say Wouter Bossu and Arthur Rossi
Evergrande tests China’s commitment to deleveraging
Chinese officials are having to choose between near-term growth and long-term economic health
FSB relaunches global surveillance framework
New approach aims to be more systematic and reflect FSB’s “broad membership”