Europe
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
EBA sets out methods for AML risk assessments
Reports can be triggered by concerns over authorities’ anti-money laundering frameworks
Size matters for central bank research publishing
Staff numbers have strongest association with central banks’ research output
ECB establishes tough conditions for banks to resume dividends
Dividends must remain below 15% of cumulative profits in 2019-20 and not higher than 0.2% of CET1 ratio
Economists earn more than number-crunchers at central banks
On average, statisticians take home 88% of what economists earn
Loans to SMEs should have lower capital requirements – BdF paper
More SME lending boosts banks’ portfolio diversity and decreases systemic risk exposure, paper finds
Maltese ex-finance minister becomes governor despite political dispute
Opposition alleges Edward Scicluna is “bad choice” but Labour government dismisses claims
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
ECB adds crucial tweak that could limit PEPP purchases
Hawkish governors secured wording that bond-buying allocation “need not be used in full”
MAS strengthens fintech co-operation with Ghana and Hungary
Agreements will help connect SMEs and foster discussions around regulation and emerging trends
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends
ECB announces major boost to pandemic programmes
New TLTRO programme will offer banks financing at negative rates to maintain consumer lending
The long-term impact of Covid-19 on banknote demand
The coronavirus pandemic has challenged cash usage assumptions at a time when central banks make only limited use of longer-term forecasts
ECB set to boost QE purchases and extend duration of stimulus
Eurozone central bank is widely expected to increase emergency asset purchases by around €500 billion on December 10
People: New deputies named in China and Mexico
Plus ECB appoints senior supervisors, and Donald Trump tries to install new OCC chief
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan; urges ECB to reject Fed-like average inflation targeting
Could AI ever replace human bank supervisors?
Data collection and processing remains key in leveraging artificial intelligence
Danish central bank moves closer to Target settlement systems
National Bank of Denmark applies to use T2 RTGS system and may start using Tips
FCA details Mifid onshoring process post-Brexit
UK regulator has built equivalent systems to ensure firms can continue with Mifid reporting
The dawn of average inflation targeting
The Fed has failed to explain how it will calculate the ‘average’ for its new AIT framework, raising new risks that central bankers would do well to reflect on
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
Norges Bank deputy governor resigns over security clearance
Deputy governor in charge of world’s largest SWF denied clearance because of wife’s residence in China
Lane’s calls to investors stir controversy ahead of key ECB meeting
Chief economist’s private discussions with investors after policy meetings come under scrutiny