International
Acemoglu questions productivity benefits of AI
MIT economist finds weak productivity gains from AI and says benefits may be undermined by costs
Artificial intelligence: key questions for financial supervisors
Manoj Singh outlines what supervisors need to be asking as they learn to interrogate machines
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
Getting Chiang Mai right
Asia’s emergency infrastructure is on the right track, but there is still room for improvement
Communications Benchmarks 2024 – model banks analysis
Additional breakdowns of the data highlight differences in emerging market and advanced economies
China links CBDC to Hong Kong’s fast payments system
Hong Kong residents can top up wallets via 17 retail banks as PBoC continues to promote use
Profit inflation and monetary policy: weighing the evidence
Biagio Bossone says profit inflation needs monetary ‘fuel’ to rise – but fiscal policy is the best fix, should governments have the ‘guts’
Trends in reserve management 2024: survey results
Insights on geopolitical risk, AI, asset diversification, risk management and ESG adoption
Riksbank’s Thedéen to be next Basel Committee chair
Current chair Hernández de Cos stepping down as Bank of Spain governor in June
Central banks prepare for the rise of AI
AI will not replace accountability in monetary policy decision-making, MAS chief says
Facebook, LinkedIn, X are top social channels
Central banks see “interactions” as key metric for tracking social media
Comms teams becoming less involved in key policy decisions
Early involvement appears to raise effectiveness in monetary policy communication
BdF governor: ‘We will need a CBDC’
European central banks should not “lag behind” on CBDC and AI, says François Villeroy de Galhau
Politics and economics drive swap line decisions – IMF paper
Financial and trade links as well as political reasons affect decision-making, authors say
‘Do I die, or do I survive?’ Officials reflect on Basel III complexity
Ingves, Trichet and Villeroy de Galhau recall tough trade-offs at Basel Committee’s 50th anniversary
Banks’ AI models are flawed – Basel Committee chair
Pablo Hernández de Cos says risk of AI model misspecification is “incredibly high”
Governance Benchmarks 2024 report – central banks’ core processes
The benchmarks shed light on central bank profitability and distributions, independence and more
FSB proposes actions to make margin calls safer
Margin calls can mitigate risk but may also create spikes of liquidity demand, report says
‘Stretched’ bond markets vulnerable to instability – IMF
Expectations of soft landing have compressed spreads and could lead to sudden repricing, report says
Stablecoin rules are ‘diverse and fragmented’, FSI paper warns
BIS institute says it is “critical to align national regulatory frameworks”
Reserve managers brace for war
Geopolitical escalation could trigger inflationary and energy shocks, RMT survey finds
IMF officials warn cyber risks are growing
Systemic and third-party cyber risks pose threats to central banks and firms
Few central banks have recapitalisation deals – BoE paper
Survey of 70 jurisdictions argues institutions need “robust framework” to repair capital shortfalls
Banknotes: January to March 2024
A round-up of news and salient issues that have affected central bankers in the past three months