Central Banking Journal
Transparency: Czech National Bank
New monetary policy report, and publication of attributed minutes and economic model raise the bar for disclosure
Reserve manager: Central Bank of the UAE
The Middle Eastern institution approved a new investment policy, allowing it to diversify into new asset classes and, for the first time, allocate part of its portfolio to external managers
Economics in central banking: Wenxin Du
Du’s work clarifies the dollar’s role as a barometer of global markets, and explores the myriad implications for financial stability
Initiative: BoT and MAS’s PromptPay-PayNow link
Connecting the two nations’ instant payment systems is empowering citizens
Technology services: SAP
The software company pulled off a high-stakes ‘big-bang’ launch of a new core banking system for the Saudi Central Bank
Risk management technology: BlackRock’s Aladdin Risk
ESG feeds into integrated position reports, customised benchmarking and robust scenario analysis assist prudent reserve management
Specialised lending initiative: BNP Paribas Securities Services
Technology platform improvements have resulted in faster, safer and more tailored securities lending services to its central bank clients
Payments and market infrastructure development – retail: Central Bank of Brazil’s Pix
The implementation of the Pix real-time payment system in Brazil was a runaway success in terms of payment activity, innovations and inclusion
Payments and market infrastructure development – wholesale: Reserve Bank of India
The RBI’s work on its 24/7/365 RTGS can serve as a model and possibly as the bedrock for an international RTGS that operates around the clock
Financial stability initiative: ECB’s SSMnet
Online tool fosters cohesion, agility and effectiveness for supervisors working across member institutions of the European Single Supervisory Mechanism
Currency initiative: Central Bank of the Philippines’ Cash Service Alliance
Homegrown IT system allows Philippine central bank to direct cashflows between banks during Covid-19
Currency manager: Central Bank of Costa Rica
New banknotes and coins combine environmental protection, aesthetics and security
Payment services: CMA
The Swedish payments firm is well known as a provider of core infrastructure for central banks, and is now a key player in a new payment system linking the Arab world and beyond
Currency services: De La Rue
Printing doyen expanded capacity, functionality and market share amid corporate turnaround
Technology services – regulatory: Regnology
The regtech/suptech provider continues to innovate, securing major new contracts with central banks and regulators
Financial market infrastructure services: SIA
The Italian company impressed with its multi-year work on the ‘big-bang’ implementation of Canada’s new RTGS
Communications initiative: Bank of Jamaica
‘Centrally Speaking’ underpins not just education, but monetary policy
Outstanding contribution for capacity building: Peter Nicholl
Governor of Bosnia’s central bank helped rebuild an economy ravaged by civil war
Website: Central Bank of Eswatini
The southern African central bank has made significant improvements to its website service
Global markets: HSBC
The bank’s long-term commitment to clients and its wide range of expertise shone in 2021 as central banks navigated the aftermath of the Covid-19 shock
Collateral management services: Vermeg
The firm has added another G7 central bank to its list of clients, and is immersed in a major project to build the eurozone’s new collateral management system
Advisory services: Kroll
The US firm shed light on the ‘missing banknotes’ scandal in Liberia, and is now working with the central bank to overhaul its cash operations
ECB supervision and the state of the eurozone’s banks
ECB banking supervision has passed the first stage of the Covid-19 test. But many challenges remain, including banks’ internal governance and data processing, excessive leveraged lending in some segments, and a lack of progress towards a more competitive…
Risk manager: Bank of Portugal
The eurozone central bank has completed a multi-year project to develop its risk appetite framework.