Central Banks
Sizing the benefits and risks of our climate ambition
Fixing climate change is likely to entail substantial risks, new NGFS scenarios show. Firms and supervisors must seize this opportunity to adapt, write Sarah Breeden and Frank Elderson
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
Powell, Lagarde and Yi call for urgent action on climate change
Lagarde says asset taxonomy is needed soon while Yi says G20 must create disclosure standard
El Salvador extends executive control over central bank
Changes exclude employers’ association from nominations and expand grounds for dismissal
New York Fed to begin SMCCF bond sales
Federal Reserve plans to offload $13.7 billion in corporate debt bought as pandemic measure
Central Bank of Chile approves new transparency policy
New initiative based on standards of the IMF’s transparency code
ECB policy paper says unconventional policy worked
Paper says QE purchases explain “lion’s share” of changes to eurozone yield curves
RBI doubles size of quantitative easing programme
Central bank readies additional 1.2 trillion rupee purchase programme as virus “dents” demand
Central banks face legal risk over climate – ECB’s Elderson
NGOs could sue central banks for failure to take suitable action over climate change, says NGFS chair
Weidmann drops opposition to ‘greening’ ECB bond holdings
Bundesbank president says ECB could limit purchases of corporate bonds from some sectors
Fed adopts single interest rate for reserves
Amendment eliminates separate figure for excess reserves
NY Fed prepares to sell corporate bond portfolio
Holdings of $13.7 billion were bought under emergency SMCCF programme
How the Fed’s Fima addressed the 2020 dollar liquidity shortage
The fifth chapter of HSBC's Reserve Management Trends 2021 explores how the Fed's repo facility supported markets during the Covid-19 pandemic
Firms and supervisors must ‘transform’ climate risk management – regulators
Complexity and uncertainty demand major rethink of risk, say ‘Green Swan’ event speakers
EU common debt to boost euro’s international role – ECB
Currency still faces negative rates, fragmented debt market and lack of triple-A assets
DRC promises central bank reforms
Kinshasa makes pledges to IMF in return for $1.5 billion three-year loan
Mandatory climate disclosures needed now – senior central bankers
Greening monetary policy operations should also be a priority, policy-makers say
‘Preventive restructuring’ reduces unnecessary bankruptcies – BdF paper
Researchers compare data from French preventive restructuring and traditional bankruptcy systems
Many central banks have formal safeguards over firing governors
Benchmark respondents give details of how governors are appointed and dismissed
Ingves renews attacks on ‘artificial division’ in proposed Riksbank act
Proposal limits policy flexibility and is “wrong way to go”, governor says
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues – on expectations, on fiscal policy, and on the capacity of the economy to ‘run hot’
Iran dismisses central bank governor
Hemmati is a presidential candidate and was told this was incompatible with governorship