Central Banking Journal
Collateral management services: Calypso Technology
The US-headquartered tech company has helped to develop the “new backbone” of the Swiss financial market, offering flexibility, standardisation and automation to the Swiss collateral management process
Communications initiative: Bank of Portugal
The launch of two mobile apps marked the final steps to redesign digital communication channels with both the public and own employees
Global markets award: BNP Paribas
The bank shone across a wide range of business areas and regions during the turbulence of Covid-19
Green initiative: Bank of England
UK central bank breaks path for others by disclosing climate-related risk across all operations
Reserve manager of the year: Bank Indonesia
The Asian central bank stabilised the rupiah’s fall during the Covid-19 pandemic in large part due to its new macro-factor strategic asset allocation framework
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
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
Data-driven policy-making for central banks focus report 2021
In this report, Central Banking discusses why data is so crucial for central banks to make effective policy decisions and why current traditional indicators that are no longer fit for purpose. The pandemic has highlighted the need for an overhaul of data…
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.
Mário Centeno on monetary-fiscal interaction in the eurozone
Bank of Portugal governor says ECB is not being overrun by former finance ministers, must improve the definition of its inflation target and has no need for yield curve control. Centeno believes NextGenerationEU fund could serve as template for a future…
Book notes: Capital and ideology, by Thomas Piketty
A political pamphlet like Milton’s ‘Areopagitica’, but longer
Kenneth Montgomery on the Fed’s progress with instant payments
The FedNow project leader speaks about Covid-19 payment behaviours, a new liquidity management tool and what it will take to achieve ubiquitous instant payments in the US
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
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
Book notes: The political economy of the special relationship, by Jeremy Green
Unsatisfactory story about the decline and resurgence of the UK’s importance in the global financial system
Ulrich Bindseil on the launch of the digital euro
The ECB’s director-general for market infrastructure and payments speaks about the functionality, tiering approaches, privacy policies, ledger technology and ecosystem impact of the eurozone's planned CBDC
Book notes: The currency cold war, by David Birch
Pleasant and interesting read on whether digital money will jeopardise the US dollar’s dominant role in global trade and finance
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…