Sterling
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
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments, to support a large allocation of ‘official’ IMF SDRs
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
BIS to operate sterling liquidity facility backed by BoE
Move echoes 20th century arrangements when BIS acted as intermediary in swaps network
Lifetime achievement: Charles Goodhart
LSE and BoE veteran has influenced central banking policy practices and frameworks all around the world
Book notes: The political economy of the special relationship, by Jeremy Green
Unsatisfactory story about the decline and resurgence of the UK’s importance in the global financial system
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021
An end to the loveless marriage with the US dollar?
Covid-19 represents an unexpected shock that could cause further US dollar decoupling
Sterling swap traders brace for new Sonia switch deadline
Covid delays force regulators to set new date for interdealer swap market to price off RFR
BoE’s Hauser: Covid-19 forced “largest and fastest” actions ever
Executive director gives blow-by-blow account of how BoE tackled Covid-19 markets crisis
Libra’s Disparte on big tech’s move into digital currency
Facebook-backed consortium still has more than 3 billion customers in its sights
Lifetime achievement award: Otmar Issing
Architect of euro’s framework still playing important role in shaping debate on monetary policy
Custody initiative: Euroclear
The securities depository has debuted instant dollar settlement in central bank money outside the US
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks
Sterling’s fall boosted UK inflation - San Fran Fed paper
Prices of tradeable goods rose significantly more than non-tradable goods, researchers find
BoE’s Ramsden calls time on Libor use
Deputy governor says progress on transition to Sonia benchmark needs to accelerate
How Singapore manages its reserves
MAS’s Menon explains use of customised fixed income benchmarks and factor-based models
Central banks disagree over cash regulation
The BoE has issued legislation demanding banks supply certain denominations
Canadian deputy governor explains reserves regime
Floating exchange rate, asset-liability matching and liquidity focus do not demand bigger portfolio
Central bank of the year: Monetary Authority of Singapore
Fintech pioneer has strong monetary policy, financial stability and supervisory record
Brexit unlikely to affect sterling’s reserve currency status
No-deal scenario could put major downward pressure on the currency
Key Brexit vote complicates outlook for UK economy
Vote this evening leaves UK’s political and economic future uncertain
Riksbank to add Norwegian and Danish krone to reserves portfolio
Change responds to banks’ liquidity requirements in these Scandinavian currencies
BoE launches comms push as it seeks face for £50 note
Central bank seeks boost to public engagement from nominations and ‘Future Forum’