International
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
Global markets award: BNP Paribas
The bank shone across a wide range of business areas and regions during the turbulence of Covid-19
New monetary frameworks involve risk trade-offs – IMF’s Adrian
Lower-for-longer rates may help to avoid deflation, but could contribute to medium-term volatility
IMF delays SDR valuation review
Delay reflects priority placed on Covid-19 response and possible clash with other workstream
Governor of the year: Alejandro Díaz de León
Díaz de León has upheld the authority, integrity and independence of the Bank of Mexico against significant external and internal pressures
Innovation in reserve management: World Bank Treasury/ANZ Bank
The pair developed a Swift-based messaging app to manage faster and safer cash operations for central bank members of Ramp at the height of the pandemic
Asset manager: BNP Paribas Asset Management
The European asset manager has leveraged its focus on official institutions, expertise in MBS, training, reporting and ESG compliance to grow its business with central banks
Climate portfolio services: RepRisk
The Swiss company’s machine learning tool checks reports on 160,000 companies daily from a host of sources in 20 languages to offer central banks and SWFs early warnings on climate-related risks
Climate initiative: HSBC
The UK bank is working closely with central banks and other official institutions to support the transition towards a greener global system
Fintech use shows international gender gap – BIS paper
Women use fintech less than men but reasons for this are unclear, survey finds
Big data in central banks 2020–21 report: shifting to centre stage
The Covid-19 shock made big data a key input into policy at a time when data governance appears to be improving and central banks are embracing cloud technology
BIS paper proposes solution to ‘runnable brown assets’
Central bank liquidity backstop could boost stability and encourage firms to go green, authors say
Cyber attacks on finance increased sharply during pandemic – BIS
Increased use of cloud could increase firms’ vulnerability, researchers warn
The untapped potential of transaction data
Covid-19 has highlighted the need for central banks to have more timely information, questioning whether high-frequency indicators are being used to their full potential.
Yellen backs proposal for SDR issuance
G20 calls on IMF to develop proposal for “general allocation of SDRs”
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
Rich countries must aid poor over Covid-19: Georgieva
IMF chief warns of future financial instability and calls for major aid flows to developing world
Will Treasury yields keep on rising?
Falling price of US bonds may force reserve managers to change duration to preserve capital
Stablecoin issuer agrees to settle lawsuit over ‘deceptive’ trading practices
New York attorney general accuses Tether of lying about the backing of its crypto asset with US dollars
Private sector partnerships could be the key to CBDC survival – IMF research
Central banks may find it “challenging” to keep up with pace of technological change
Carney takes job on Stripe board
Former BoE governor adds role at fintech firm to growing portfolio of positions
Book notes: Asset management at central banks and monetary authorities, edited by Jacob Bjorheim
This excellent book fills a critical gap existing since IMF guidelines on asset management were revised
Podcast: the legal implications of CBDC
The majority of central banks cannot issue CBDCs to the public under current frameworks
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks