Central Banking
Asean publishes first green taxonomy for financial instruments
“Multi-tier” taxonomy aims to create realistic goals for both rich and middle-income nations
People: Georgieva nominates new IMF deputy managing director
BoE’s PRA names new executive directors; Dallas Fed renews terms for two board members
Brazilian governor outlines climate reporting rules
Campos Neto says Brazil’s banks must file climate risk reports from June 2023
BIS paper flags ‘notable gaps’ in CBDC research
Policy work on cross-border CBDCs is “marching beyond the research frontier”, say economists
CBDC issuance should not be rushed, say central bank experts
Officials at Singapore Fintech Festival warn central banks must be alert to risks of CBDCs
US records highest CPI inflation rise since 1990
NY Fed detects slight rise in short-term consumer inflation expectations as real wages fall
New York Fed opens new research centre
Marco Del Negro will lead work on research methods and issues in macroeconomics
GDP-linked bonds unlikely to ‘tame debt’ – BdF paper
Linking sovereign bonds to GDP would not necessarily improve debt ratios, researchers find
MAS and BSP to pursue retail payment linkage
Central banks of Singapore and the Philippines promise to advance co-operation on fintech
EU should demand banks set climate transition plans – Elderson
Officials acknowledge climate risk has become central topic, but say most institutions fail to meet supervisory requirements
No UK central bank digital currency before 2025, BoE says
A 2022 consultation will determine if CBDC should enter “development” phase
MAS embarks on retail CBDC study
But Singapore sees no pressing need for retail central bank digital currency, MAS says
BoE outlines new ‘tiered’ CCP supervision framework
Non-UK CCPs will be labelled Tier 1 and Tier 2 following ‘reliance assessment’
Romania continues monetary tightening
Central bank lifts interest rates by 25 basis points as inflation continues to bite
Lane makes case that inflation surge is transitory
ECB chief economist stresses weak mid-term inflation dynamics in the eurozone
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
Central bank signals could be impacting natural rate – BIS paper
“Learning process” could explain decline in interest rates without drop in productivity, authors say
Asset sell-off biggest threat to Chile’s financial stability – Marcel
Governor reiterates warning against further pension withdrawals
PBoC launches carbon-reduction monetary policy facility
Facility will offer low-cost loans for private firms investing in green projects
Tanzanian central bank announces loan crackdown
Central bank says “unscrupulous borrowers and employees” partly responsible for high NPL levels
Quarles will resign from Fed board at end of year
Former vice-chair for supervision had 10 years left as governor
BIS board reappoints Carstens as general manager
Luiz Pereira da Silva gets new term as deputy, and Stefan Ingves becomes vice-chair
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections