International
BIS paper highlights ‘ripple effect’ of monetary policy
Balance sheets of upstream and downstream firms “salient, yet mostly overlooked”, authors say
CPMI aims to ‘shape the future of payments’
Committee publishes work programme for first time, focusing on innovation and risks in FMIs
People: Georgia names new vice-governor
IMF appoints director of HR; Kuwaiti emir makes delayed board appointments; Indonesia shuffles regional reps
‘Unstable, unreliable and temporary’: paper explores global co-operation
Policy-makers should heed JM Keynes’ 1919 warning, say Michael Bordo and Catherine Schenk
Big techs should be assessed for systemic importance – BIS
Safeguards needed to guarantee operational resilience of financial system
IMF governing board signs off on ‘historic’ SDR allocation
Decision paves way for $650 billion worldwide infusion of liquidity later this month; mechanism for rich countries to pass on their share still unclear
Podcast: Why forward guidance needs guidance
Richard Barwell, head of macro research at BNP Paribas Asset Management, discusses the limitations of forward guidance and what central banks must do to improve their communications
BIS ‘Project Nexus’ targets 60-second cross-border payments
Project seeks to link up existing fast payment systems, but several hurdles remain
Sanctioned disobedience: the challenge of protecting whistleblowers
Most central banks have policies on whistleblowing, but practice and usage vary widely
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer
Covid-19 recovery highlights stark inequality between nations – IMF
Policy support and speed of vaccination programmes have widened gaps, Gopinath says
Covid and the cloud: a turning point for central banks?
As central banks embrace new technology, providers are jostling to be first in line
Communications Benchmarks 2021 report – executive summary
Insights into staffing and salaries, channels, social media, new technology and strategies
BIS paper warns against ‘timid’ QE and ‘debt-averse’ fiscal policy
Policy mistakes at zero lower bound can worsen economic problems, authors say
Powerful companies are diluting monetary policy effectiveness – IMF
Competition policies are needed to ensure central banks can use monetary policy effectively
IMF raises caps on loans to poorer countries
Reforms also provide new funding to anti-poverty trust
New BoE climate risk scenarios spark race for extra data
Banks need information from clients or third parties to populate 1,760 stress test variables
Communications Benchmarks 2021 report – making connections
Data offers insights into staffing and salaries, communications channels, social media, new technology and strategies
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
IMF mulls SDR reallocation ‘trust’
Fund is considering ways SDR allocation can be channelled to vulnerable countries
Mountfield to become World Bank vice-president, sources say
More people news: Atlanta Fed names senior VP, and Fed’s first supervision head goes to US Treasury
Inflation fears are ‘overstated’ – BIS research
‘Little evidence’ of the forces that normally lead to persistent inflation, bulletin article says
Most central banks communicate in at least two languages
Central banks must weigh challenge of translating sensitive messages against reach
BIS paper sees fintech creating ‘barbell’ market structure
Authors say regulators should take action as digital innovation drives changes in market structures