Risk
NBG paper develops early warning system for external risks
Georgia’s current account deficit and dollarisation create vulnerabilities, authors say
Asean central banks call for joint action on climate risk
Asean policy-makers have work to do if they are to catch up with climate leaders, report says
Regulators voice concerns over cloud risk
Failure of big cloud service provider could cause “a very large shock”, says NY Fed exec
Canada launches climate risk scenario pilot
Project will test volunteer institutions for their exposure to climate change risk
Public policy lines blur: implications for reserve managers
Crisis-fighting has pushed central banks into new forms of risk-taking, and this is now spilling into reserve management, says Jennifer Johnson-Calari
Zambia prepares for debt default
Talks on payment freeze fail as G20 prepares to debate further debt relief
Book notes: The great demographic reversal, by Charles Goodhart and Manoj Pradhan
An important book, predicting that powerful demographic forces will upend conventional thinking on macroeconomics and policy
Has Covid-19 made gold shine brighter?
The price of gold has skyrocketed this year, but central banks have not flocked to invest as they have done in the past, write Rachael King and Victor Mendez‑Barreira.
BoE warns banks: start preparing for a higher carbon price
Risk Live: stress tests should assume rising carbon price, regardless of government policy, says Breeden
EBA wants Basel to revisit prudential rules on software
Banking regulator set to soften capital impact of IT assets, but proposals are still out of line with US
Fed examines climate risks in stability report for first time
It is “vitally important” that climate risks are “assessed and addressed”, says Lael Brainard
Gold reserves in central banks – 2020 survey results
Reserve managers share their views on future gold holdings, target allocations, purchasing and storage approaches, the use of ETFs, and the impact of Covid-19, in the results of a new joint Central Banking-Invesco survey. By Nick Carver and Robert Pringle
BoE will not use climate stress tests to set capital buffers – Bailey
Andrew Bailey reveals new details of tests, with launch set for summer of 2021
Eurozone credit tightened in Q3
Worsening economic outlook boosts borrowers’ credit risk, says the ECB
The winners of the 2020 FinTech and RegTech Global Awards
Central banks and their partners have innovated across machine learning, cloud services, payments and more
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Malaysia’s central bank to launch climate taxonomy in 2021
Information asymmetry among financial firms is hampering green lending, assistant governor says
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
Marshall Islands readies to make waves in digital currency
Island nation ready to issue blockchain-based national currency if its new government gives the go-ahead, chairman of foundation says
Banking sector resilience ‘likely to be tested’ – IMF’s Adrian
Fund’s stability report says vulnerabilities are high and rising, creating difficult policy choices
Carbon tax could help monetary policy – ECB paper
But tax will only improve welfare if alternatives to carbon-based power are available, say researchers
BoE may update resilience guidance, post-Covid
Granular targets on minimum service provision after outages could be revisited, adviser suggests
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk; efforts to expand focus beyond climate risks now under way
Haldane makes case against ‘economic anxiety’
Communication essential to avoid caution “morphing into fear and fatalism”, says BoE chief economist