International
Global dollar liquidity ‘robust’ in face of Covid-19 – BIS data
Dollar credit to emerging markets passes $4 trillion mark as lending to non-banks rises
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Watermarks and intaglio printing remain top security features
Increasing the number of security features does not necessarily reduce counterfeiting
BIS tracks $1.1 trillion drop in cross-border claims
Lending surged and then fell back as banks reallocated funds during the Covid-19 crisis
Quarles: policy-makers have ‘work to do’ on non-bank fragilities
FSB chair outlines areas where non-banks may have amplified the Covid-19 shock
Nobel laureate envisages climate change-fighting ‘club’
Green finance will not be enough to halt climate change, says William Nordhaus
Transparency on financial stability not always optimal – Fed paper
Author finds upside to opacity, but says central banks may face time inconsistency problem
Central banks show wide variation in cash department staffing
Different staffing levels driven in part by which institutions run their own printworks
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
‘Wear and tear’ the main reason for banknote exchange
Covid-19 raised fears of banknote contamination, but historical exchange is mostly due to worn notes
G20 delays decision on poor countries’ debt relief
International efforts have been “unambitious, unco-ordinated and uneven” – prominent economists
Reserve Benchmarks 2020 – presentation
Central Banking’s reserves subject matter specialist Victor Mendez-Barreira speaks with Chris Jeffery about tranching trends, euro stutters, climate and ESG, external managers, liquidity stress tests and coverage ratios
Marshall Islands readies to make waves in digital currency
Island nation ready to issue blockchain-based national currency if its new government gives the go-ahead, chairman of foundation says
Bankruptcies could trigger ‘protracted’ unemployment – BIS research
Reallocating resources quickly will help reduce the pain of adjustment, economists say
Covid-19 may survive 28 days on banknotes and payment cards
New research suggests virus can survive for an extended period of time at room temperature
Counterfeits rise with issuance on multiple substrates
Average percentage of counterfeits per total volume in circulation is around 0.01%
Banking sector resilience ‘likely to be tested’ – IMF’s Adrian
Fund’s stability report says vulnerabilities are high and rising, creating difficult policy choices
IMF warns of permanent economic damage from Covid-19
Pandemic could pitch 90 million people back into extreme poverty, fund says in new economic outlook
Samuel Brittan (1933–2020): A master of his trade
Robert Pringle looks back at the life of Samuel Brittan, the economic journalist and adviser to Central Banking
FSB unveils ‘comprehensive plan’ to reform global payments
“Roadmap” for cross-border payments to be considered by G20 leaders this week
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas that shape the environment in which all central banks operate
Milgrom and Wilson share economics Nobel Prize
Auction theorists win this year’s prize for discoveries “of great benefit to society”
FSB weighs impact of growing big tech dominance
Big tech offers benefits but is also using its clout to gain significant market power, FSB says
Carstens warns QE strengthens ‘fiscal-monetary nexus’
BIS chief warns central banks over using up “credibility capital” by their Covid-9 responses