Articles by Central Banking staff
Fed research examines single cyber attack’s effects on stability
Federal funds market and discount window kept banks liquid despite attack – researchers
Social media ahead of traditional comms for central banks
High income institutions still skewed towards traditional channels
Central banks use wide array of external comms channels
Institutions employ about 10 media formats on average, and almost all use social media
Central bank websites vary greatly in popularity
Some get hundreds of page views per month, while others get millions
Christopher Waller denies Fed is ‘behind the curve’
Governor argues Fed not given due credit for forward guidance and low unemployment
Private sector tools often used to shape comms strategies
Meltwater, Hootsuite and Fuseworks among named software providers
Risk Management Benchmarks 2022 – presentation
Central Banking’s risk management subject matter specialist Victor Mendez-Barreira speaks with Chris Jeffery about emerging risks, the organisation of risk management departments and the most influential approaches to risk management
Email main channel for central banks’ two-way communication
A majority of central banks interact with the public through social media platforms
HKMA follows Fed with interest rate hike
Chief executive says HKMA will intervene when currency hits lower bound of peg
Early comms involvement in policy raises effectiveness
Teams involved in earlier stages of policy report communications are more successful
Central banks use multiple channels for internal comms
Email and platforms developed in-house are top channels, but many others are also common
Central banks offer wide range of comms training courses
Many train communications staff in areas such as writing, public speaking and social media
Many central banks ‘layer’ news for different audiences
Techniques include use of differing language, visual and video presentation, and data release
Central bank comms staff earn $40,000 on average
Data shows wide disparity across institutions and income groups
Wide variation in comms staff numbers
Smallest communications team has just two members, and the largest over 100
Maintaining trust is top focus of comms teams
Benchmarking data sheds light on how central banks measure the effectiveness of communications
Most central banks are bilingual communicators
Only a handful communicate in three languages, but it is common to translate at least some documents
Media relations is biggest job for comms teams
But website, social media and internal comms also account for significant portions of time
Governance Benchmarks 2022 – executive summary
Central banks discuss how they deal with problems of accountability and independence
Few central banks report funding problems
Only 10% of central banks say they lack adequate resources
Median bank has had four governors in past 20 years
Governor turnover probably does not reflect independence
Governors are rarely dismissed early
Most jurisdictions have the power to dismiss central bank governors, but rarely use it
Central banks usually transfer profits to governments
But many central bank respondents did not share profits in the last financial year
Minority of central banks worry over independence
Most central banks say law protects them, but some say changes are needed