Transparency
Communications Benchmarks 2021 report – making connections
Data offers insights into staffing and salaries, communications channels, social media, new technology and strategies
Trust and comprehension seen as more important than audience size
Central bankers see trust as the most important measure of communications effectiveness
Danish central bank denies suffering breach in SolarWinds hack
Media reports claimed central bank had been exposed for seven months
Academics miss out on central bank background briefings
After journalists, private sector analysts are offered briefings most often
BIS’s Luiz Pereira on tackling the climate crisis
Deputy general manager highlights the challenge posed by radical uncertainty, the benefits of carbon budgeting, and the case for acting now
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
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
MAS publishes inaugural sustainability report
Report details central bank’s own efforts to cut emissions and broader work with financial sector
Multiple expectations test communications
The Reserve Bank of New Zealand’s communications are being tested, and some recent exchanges have been combative, says Mike Hannah
Transparency is essential for financial stability – Georgia’s Gvenetadze
But it is still possible to be “too transparent”, governor warns
Riksbank proposes framework to improve parliamentary scrutiny
One possibility is to create a permanent body to brief the parliamentary finance committee
Governance Benchmarks 2021 report – the frameworks that rule central banks
How are central banks governed? Benchmarking data offers insights on appointments, legal structures, powers, decision-making bodies, independence and more
Central Bank of Chile approves new transparency policy
New initiative based on standards of the IMF’s transparency code
Firms and supervisors must ‘transform’ climate risk management – regulators
Complexity and uncertainty demand major rethink of risk, say ‘Green Swan’ event speakers
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief voices concerns about the timing of stablecoin and CBDC roll-outs, fintech risks for supervisors and monetary policy, and details development plans for eight innovation locations
UAE’s central bank connects RTGS system to Swift tool
New initiative allows participants to monitor progress of transactions in real time
The evolving ‘strategy function’ in central banks
Some institutions participating in a survey of 27 central banks still struggle to fully harness an effective ‘strategy function’, according to the ECB’s Jean-Charles Sevet and Alejandro de la Cuesta
Ukraine’s central bank orders transparency for non-bank sector
Non-banks must disclose all beneficial owners to NBU and reform ownership or face losing licences
Regulating big tech and non-bank financial services in the digital era
Big tech incursions into financial services in China and elsewhere demonstrate the potential benefits of adopting a digital-bank or holding-company approach to financial regulation
Central Banking Awards 2021: winners in full
Winners in 2021 include the Federal Reserve, Alejandro Díaz de León and Charles Goodhart
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
Central Bank of Barbados’s first governor dies
Blackman helped to introduce dollar peg and pioneered transparency
Belarus central bank cancels meetings calendar
Despite rising inflation, national bank holds policy rate steady and sets no date for next decision
Central Banking Awards 2021: second group of winners announced
Lifetime achievement award unveiled, plus awards for transparency, advisory, global markets and more