The Americas
Working group minutes: reserve managers chafe at constraints
Officials at several central banks say limited investment universe restricts room for manoeuvre
Tombini warns of false sense of stability in markets
BIS official says participants need to price in significant uncertainty over economic policy
‘I wish we were long bitcoin’ – central bankers on Trump 2.0
Reserve managers at Central Banking Autumn Meetings warn of higher signal-to-noise ratio
Smaller banknote denominations have shorter lifespan
High income central banks produce longer-lasting cash
Middle income central banks see largest volume of counterfeit notes
Foil remains least used security feature for banknote production
Majority of central banks have emergency cash inventory
But few respondents say they have alternative strategies in place
Half of central banks recycle banknotes as sustainability measure
Most currency operations lack climate strategy, but a few plan to launch one
Minority of central banks keep whole cash cycle in-house
Banknote printing remains central banks’ most outsourced function
Currency staff make up 8% of central bank workforce
Institutions with own printworks have larger currency departments
Raised tactile features are most common banknote visual aid
Assistive mobile application offered by just two central banks
Polymer substrates used on one-fifth of banknotes
Data reveals widening adoption in upper-middle income jurisdictions
Average volume of defective banknotes remains above 100m units
Central banks retrieved over $1 billion of mutilated banknotes on average
IDB announces organisational restructure
Bank creates new VP role and divisions, and elevates chief economist
Cash payments average over 30% of transactions in 2023
No pressures on number of printed banknotes, central banks say
Half of upper-middle income banks plan banknote issue in next year
Total number of banknote denominations in circulation averages under 10
Average cash values rise more than volumes year on year
Value of banknote pieces in circulation rises by over 30% on average
Macro-pru should interact with other policies – Chile’s Costa
Governor calls for joined-up thinking as Santiago hosts FSB Americas group meeting
Working group minutes: central banks weigh CBDC design choices
Central bankers discuss CBDC design elements, adoption rates and cross-border payments
Middle income countries form largest membership of World Bank Ramp
Central banks highlight market intel, support, training as partnership gains
Half of middle income central banks intervened in FX markets in 2023
Liquidity tranches form largest part of reserves in lower-middle income countries
Most high income central banks engage in securities lending
But liquidity stress-testing tends to be common practice across middle income institutions