Asia
Large economy central banks more likely to employ CTO
Slight majority of central banks employ CTO, but differences are clearer when sorted by GDP
People: Erdoğan fires deputy governor
IMF hires new finance director; new deputy governors at Nepal central bank; and more
Bank of Thailand reinforces stablecoin regulation
Firms wishing to issue baht-backed stablecoins must consult with the central bank
Website: Central Bank of the Philippines
BSP says its website’s mobile-friendly design and chatbot has boosted effectiveness of communication
Bank of Thailand plans overseas PromptPay connections
Central bank aims to connect to retail instant payment systems in other countries
Reserve manager of the year: Bank Indonesia
The Asian central bank stabilised the rupiah’s fall during the Covid-19 pandemic in large part due to its new macro-factor strategic asset allocation framework
Pandemic payout freeze increased lending - BIS paper
Research finds restrictions depressed equities but augmented capital buffers and boosted loans
‘Do bank supervisors wear too many hats?’ asks BIS paper
Many countries require array of mandates beyond “safety and soundness”, authors say
Corporate Services Benchmarks 2021 report – trends in financial reporting and administration
Insights on staffing and salaries, technological automation, data security, rule compliance, gender equality and green office spaces in accounting, audit, HR and administration
BIS paper contrasts firm financing in US and Asia
Authors argue market segmentation drives different patterns of bond and loan financing
Bank Indonesia resumes monetary easing
Central bank commits to further government bond purchases on the primary market
Thai interbank platform starts ‘bulk payments’
Upgrade will increase operability between systems, company says
MAS explores need for domestic green taxonomy
Taxonomy could help steer capital towards the region’s green priorities, deputy governor says
Guy Debelle on the future of the FX Global Code
Code’s creators considering updates to sections on last look and pre-hedging
Is the integrity of Afghanistan’s central bank under threat?
Acting governor fires key staff and is accused of undoing reforms, while World Bank appears ready to suspend funds; administration and other donors show few signs of learning from Kabul Bank scandal
MAS strengthens fintech co-operation with Ghana and Hungary
Agreements will help connect SMEs and foster discussions around regulation and emerging trends
HKMA and PBoC begin technical preparations for digital yuan pilot
HKMA CEO Yue says cross-border e-yuan will offer additional payment options to locals
Sri Lanka’s central bank picks SimCorp to manage reserves
Platform will handle both internally and externally managed funds
Is the RBI doomed to fail its ‘quest for financial stability’?
Covid-19 has set back progress on hard-won reforms. As the economy struggles to recover, the RBI and government must walk a treacherous path back to safety
Singapore non-bank firms can use real-time payments systems – MAS
“Major payment institutions” will be able to use two real-time systems from February 2021
Asean central banks call for joint action on climate risk
Asean policy-makers have work to do if they are to catch up with climate leaders, report says
Book notes: The great demographic reversal, by Charles Goodhart and Manoj Pradhan
An important book, predicting that powerful demographic forces will upend conventional thinking on macroeconomics and policy
Has Covid-19 made gold shine brighter?
The price of gold has skyrocketed this year, but central banks have not flocked to invest as they have done in the past, write Rachael King and Victor Mendez‑Barreira.
Gold reserves in central banks – 2020 survey results
Reserve managers share their views on future gold holdings, target allocations, purchasing and storage approaches, the use of ETFs, and the impact of Covid-19, in the results of a new joint Central Banking-Invesco survey. By Nick Carver and Robert Pringle