Central Banking
Central Bank of Brazil launches climate change agenda
Proposals include creation of sustainable liquidity facility and adding climate factors to reserves management
Modellers should not exclude pandemic-era data – ECB paper
Excluding pandemic data from time series would “vastly underestimate uncertainty”, authors argue
MAS ‘front-loads’ interest rate benchmark reform effort
Central bank says not transitioning to new Sora rate will expose banking sector to increased risk
Central Banking’s strategic changes for a new era
New institute, benchmarks, virtual training and online event weeks launched
Ukraine replaces deputy governor as more senior officials leave
Latest change at central bank comes as donors watch closely for signs of interference
RBI unveils debt restructuring plan
Aim is to save viable businesses while letting hopeless cases fail
Deep learning can beat other forecast methods – Bank of Korea research
Deep learning models have smaller margin of error than conventional methods, research finds, but data quality is key
Israeli reserves reach new record high
Central bank foreign exchange purchases to finance the government deficit in 2020 partly account for increase
UAE steps up AML/CFT monitoring
New “smart” system forms latest cog in effort to stem illegal money transfers
BIS paper explores changing inflation risk factors
Authors highlight “significant non-linearities” among a range of risk factors
Bank investors still don’t think bail-in will happen, FSB told
Questions over bailing in bank bondholders mean problem of too big to fail persists, experts warn
BoE officials fear long-term ‘scarring’ as uncertainty hits record high
MPC members broadly gloomy on the outlook, but there is “huge” uncertainty, says Andrew Bailey
Resolution colleges must update resilience plans – EBA
EU’s resolution colleges should review whether their plans are “credible and feasible”, report says
Nigerian central bank clamps down on alleged FX breaches
Local media reports bank accounts for 38 firms were blocked as currency remains under pressure
RBA reserves decline sharply during Covid-19 crisis
Official reserves declined from $46.7 billion in March to $33.5 billion in August
People: African Development Bank president re-elected for second term
AfDB president gets further five years as chief; Burundi and Guinea appoint vice-governors
Lower financial literacy linked to crypto asset ownership – Bank of Canada
New cash survey shows financial literacy is positively associated with crypto asset awareness, but negatively associated with ownership
Competition has varied impact on bank risk – BoE paper
Quantile regression gives more detailed picture than earlier studies, authors say
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
BIS paper studies lifecycle of zombie companies
Number of zombie firms has risen substantially, and their future prospects are not good, authors say
IMF praises Georgia’s non-bank overhaul, but says issues remain
“Issues and challenges” could still threaten the sector’s viability, fund staff warn
Costa Rica launches new conditional lending facility
Banks can receive funding on the condition they submit lending plans to the central bank
Knot warns deviations from global standards must be temporary
“If the US starts distancing itself from international standards, that is quite something,” says Dutch central bank chief
MAS ramps up liquidity support
Financial sector will have increased access to Singapore and US dollar funding