Articles by Central Banking staff
Use of defined project risk and delegated risk metrics declines
Around three-quarters of central banks have distinct institutional risk appetite
ISO 31000 remains top framework for risk managers
Majority of banks blend international frameworks with domestic solutions
Most central banks still not using GRC systems
AE respondents more likely to favour integrated system versus EME counterparties, in a reverse to 2022
Most central banks track key risk indicators
Few banks consider improving current scope of KRIs, others to unveil soon
Fewer than half of central banks have a CRO
Risk management committees more popular, present in more than four-fifths of jurisdictions
Currency Benchmarks 2022 – presentation
Currency specialist Ben Margulies discusses cash volumes and use, currency production and design, cash and the climate, and other topics
Most central banks completed risk management review in 2022
Overall, 63% of institutions carried out internal audit and management reviews, 48% a external review
Cyber security topples reputational risk as first concern
Overall, close to 39% of institutions place cyber as their top concern, 20% select reputational factors
Market and personnel become key rising risks for central banks
Over 47% of institutions highlight one of these two factors as the fastest-growing risk
Cyber security remains most pressing risk for central banks
For second consecutive year it is singled out as the risk rising the most
Reserve Benchmarks 2022 – presentation
Reserves specialist Victor Mendez-Barreira speaks with Chris Jeffery about staffing and salaries, the inflation challenge, Bank of Russia sanctions, green investments, asset diversification, and reserve levels and liquidity lines.
Central banks report scant progress on climate risk capabilities
Just 9% of participants have a climate change risk unit, up from 7% last year
Fewer central banks have a centralised risk unit
Share of institutions deploying this structure falls from 66% to 48.5%; op risk overtakes rep risk as top concern
Economics Benchmarks 2022 charts
Take a deep dive into the Economics Benchmarks charts, which have just been released for 2022
Economics Benchmarks 2022 – executive summary
Key findings of the 2022 report, including model choices, governance structures and data use
Georgieva says China talks ‘fruitful’ despite limited progress
Restructuring problems are key focus for IMF and World Bank after debt levels hit new high
Yemen central bank sanctions firms in Houthi-controlled areas
Exchange firms in northern territories ordered to close accounts
RBA’s Jones calls for more analysis on CBDC
Benefits need to be set against “careful consideration” of downsides, assistant governor says
Earnings power of economists remains above GDP per capita
Emerging market professionals earn lowest median salary, but incomes still more than double national average
Most institutions use time-series models for forecasting
Use of models differs across jurisdictions by income size
Hungary’s Matolcsy calls economic situation ‘near-critical’
Governor blames government as inflation expected to be highest in EU
More than half of institutions favour semi-structural models
Just 35% of institutions include financial sector in key modelling
Central banks forecast GDP less accurately than inflation
Over half of central banks reviewed models in a bid to project more accurately