International
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Financial Stability Benchmarks 2023 – executive summary
Key findings of the 2023 benchmark, including resources, regulation, macro-pru, crime and future risk
Non-banks taking on significant ‘hidden leverage’, FSB warns
Off-balance-sheet positions have grown, but data on many parts of the system is poor
Financial regulators: one, two, maybe a few?
As Jamaica moves to introduce the ‘twin peaks’ approach to financial oversight, Ben Margulies assesses some of the pros and cons
FSB chair says world faces ‘pivotal’ moment
Tight policy and slowing growth signal financial stability problems ahead, warns Klaas Knot
IMF paper offers ‘complete set of tools’ to model reserves demand
Authors say theirs is the first complete modelling framework for reserves demand
A ‘unified ledger’ and the future of money
Blueprint set out by the BIS staff raises plenty of questions about the 'singleness of money'
SDR allocation boosted global economy – IMF report
Review finds allocation met its main objectives, but some countries are failing to deliver on pledges
Banknotes: July to September 2023
A round-up of news and salient issues that have affected central bankers in the past three months
House prices suffer steepest fall since global financial crisis
BIS data shows sharp falls in many advanced economies, though prices are still up on 2010
Macro-pru tools can cut risk of credit bust – IMF paper
Authors explore whether building buffers can increase resilience over the medium term
Lagarde envisions new model for world of ‘shifts and breaks’
ECB chief predicts bigger supply shocks and relative price swings in future
ECB: from a supply to a demand-driven floor?
Eurozone’s central bank expected formally to abandon corridor in forthcoming operational framework review
CPMI-Iosco report surveys CCP tools for ‘non-default losses’
Losses from investment risk or cyber attacks could threaten a CCP’s survival, report says
Generative AI has ‘broad systemic implications’ – IMF
Economists argue regulators need to take action now to mitigate risks
AI could challenge ‘art’ of central banking – BIS’s Pereira da Silva
Greater use of artificial intelligence could impact decision-making at central banks, official says
Study estimates scale of ‘demographic drag’
Loss of economic growth from population ageing could be significant, authors warn
Earth to Jackson Hole: create sustainable future bonds for stability and prosperity
Marina Zucker-Marques and Kevin Gallagher offer a template for a new central bank asset
RBI’s Das calls for action on debt distress
“Bigger and stronger” IMF could do more to tackle widespread debt problems, governor says
IMF to make changes to financial assessment programme
Fund says FSAP should focus on smaller financial companies, business models and risk management
Global growth is stalling: what must be done?
Jagjit Chadha says leaders are failing to make a serious attempt to tackle deepening global problems
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
People round-up: Breeden promoted to BoE deputy governor
Former Moroccan governor dies; Tonga appoints deputies; and more