Central Banks
Eurosystem’s bond holdings may hamper market functioning – paper
Asset scarcity caused by Covid-19 emergency programme has lowered repo rates, researchers say
Few central banks offer free RTGS transactions
Most central banks use a mix of fixed and variable fees to recoup RTGS operating costs
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike
Ukrainian debt holders brace for restructure
Investors could see a 40% haircut on the bonds, though final figure will depend on complex talks
Ukrainian central bank hikes rates and warns of rising financial risks
NBU says fall in yields on hryvnia-denominated assets may lead to dollarisation
West African leaders name new central bank governor
Previous governor departed in April, leaving interim leadership unclear
Swiss central bank defends board structure
Think-tank suggested governing board was “susceptible to group think” in April report
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
Tougher macro-pru helps response to major storms – BdF paper
Better regulation greatly reduces costs of financing after some natural disasters, researchers find
Israeli sovereign wealth fund launches after years of delay
Government finally accrued required tax revenues from gas and mining sectors
BoE paper examines microstructure of UK banking system
Authors stitch together supervisory datasets to study likelihood of crisis
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war
Central banks use many third parties for payments projects
Respondents mention various providers, with Montran the most frequently cited
Book notes: A full-value ruble, by Kristy Ironside
Soviet experience shows MMT worked, only with far more challenges and downsides than promoters envisioned
Global climate standards ‘badly needed’ but elusive, say central bankers
“I am not sure we are going to get there,” ECB president says
Rates round-up: Canada adds 50bp to main rate
Kenya orders first rate increase since 2015; Dominican Republic hikes 100bp; and more
Shadow banks need macro-pru regimes – Bundesbank paper
Limits on shadow banks’ leverage could have helped avert global financial crisis, researcher finds
Basel Committee finalises climate principles
Committee also pushes forward with crypto asset regulations
Biden holds rare meeting with Fed chair Powell
Yellen admits she was wrong about the path of inflation in 2021
Three-quarters of central banks exploring CBDCs for retail payments
Though research is common, only a few have moved to pilot or roll out the technology
Fed’s Waller believes US economy can handle several more rate hikes
Governor acknowledges uncertainties remain high amid Russian invasion of Ukraine
BoE set to gain stablecoin insolvency powers
Government proposal would amend existing rules for dealing with failed payment systems