Bank of Italy
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Payment services: CMA
The Swedish payments firm is well known as a provider of core infrastructure for central banks, and is now a key player in a new payment system linking the Arab world and beyond
ESG reserves adoption challenged by reliance on sovereign bonds
Higher issuance of government-compliant bonds is insufficient to offer investable alternatives to central banks.
People: ECB appoints new head of macro-pru
BIS names Innovation Hub directors; Bundesbank sends representative to Madrid; and more
Trust essential to success of global CBDC usage, panellists argue
CBDCs are yet to prove they offer advantages over private sector initiatives, say speakers at Bank of Italy event
Report finds major failings in eurozone’s RTGS management
ECB-commissioned Deloitte inquiry into system failures recommends series of reforms
Bank of Italy paper uses agent-based model of housing market
Limits on borrowing are effective but not currently needed for Italian housing sector
People: ECB appoints head of climate change centre
Bank of Italy names new head of financial supervision; Kansas City Fed appoints assistant vice-president
Judicial efficiency improves bank credit – Bank of Italy paper
Banks lend more freely and at lower rates in regions with swifter bankruptcy proceedings
Book notes: Economic philosophies, by Alessandro Roselli
Roselli’s analytical and historical exploration is especially valuable now, writes Robert Pringle
Specialised lending initiative: Clearstream
Clearstream supports eurozone central bank asset purchase programmes by returning liquidity to the market through securities lending while helping Asian and American central banks secure access to this market
The untapped potential of transaction data
Covid-19 has highlighted the need for central banks to have more timely information, questioning whether high-frequency indicators are being used to their full potential.
Paper examines US pensions’ effects on natural rate
Welfare effects of possible reforms depends on productivity growth, Bank of Italy paper finds
Bank of Italy names Signorini to second most senior role
Long-time official is promoted to general manager after Daniele Franco becomes finance minister
Bank of Italy paper uses Twitter to track inflation expectations
New method’s data gives a “good real-time proxy” for consumers’ expectations – researchers
Paper presents real-time bank stress measurement tool
Bank of Italy paper can measure deposit flows using RTGS data, researcher says
Temporary green QE might have limited effects – research
Green bond buying can cut flow of pollution but has little effect on stock – Bank of Italy paper
Ulrich Bindseil on the launch of the digital euro
The ECB’s director-general for market infrastructure and payments speaks about the functionality, tiering approaches, privacy policies, ledger technology and ecosystem impact of the eurozone's planned CBDC
Bank of Italy paper looks at economic impact of disasters
More frequent disasters make economic effects larger and non-linear, researcher finds
Early non-employment ‘scars’ workers – Bank of Italy paper
Effect is particularly severe for non-graduates and when conditions are good, research finds
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
Paper tracks changing rhetoric of Bank of Italy governors
Governors have changed the focus of their concluding remarks over time, as well as the length of their speeches
A ‘love-hate’ relationship with ESG screens
ESG screens seen as a first step in adopting sustainable investment practices, so why do so few central banks use them?