Central Banking
UK cash use squeezed by rise of fintech and ATM fee changes
Accounts with fintech firms and open banking proving increasingly popular, report finds
BIS’s Restoy calls for further action on resolution frameworks
Work on finalising crisis-management framework is not complete, says Financial Stability Institute head
BoE paper: ‘tails’ matter when studying global financial cycle
Authors look to the tails of the distribution to understand exchange rate risk in the global cycle
Gontareva’s home burns as government returns to PrivatBank negotiations
Former NBU governor says her house was burned to the ground in an alleged arson attack; government back in negotiations with PrivatBank owners despite bank’s collapse
Dominican Republic sells dollars to support peso
Dominican peso has been one of the stronger performers in the region
RBNZ flags insurers’ weak governance and risk controls
Conduct and culture review finds un-updated data, poor customer eligibility and products charging excessive premiums
People: Lagarde and Mersch receive European Parliament backing
Majority of European Parliament votes in favour of new ECB president and supervisory vice-chair
Fed provides update on future RTGS system
FedNow cross-border payments could be considered in future, the central bank says
Global growth will strengthen in 2020, says strategist
Central banks should be cautious about responding to manufacturing slowdown, Kevin Gardiner says; Fed likely to cut again in September 18 decision
BIS: forex volumes rise to $6.6 trillion as London trading soars
While the UK capital reinforces its prominence in forex markets, trading in Asian currencies heats up
FCA chief calls for EU to extend Brexit clearing exemption
Bailey also urges EU to grant equivalence determinations for UK trading venues
Lane stresses broad consensus on ECB policy
Comments come after criticism from German and Dutch central bank governors
Regulators meet in Basel to grill stablecoin backers
Conference convened by G7 stablecoins group included Libra Association, Fnality and JP Morgan
BIS paper: DLT opens possibility of ‘embedded supervision’
Distributed ledger data would be useful for supervision, but must be trustworthy, author says
Zimbabwean rates hit 70% as inflation remains in triple digits
Central bank attributes rapid price rises to restructuring of the economy; rates will now be set by monetary policy committee
Bank of Israel proposes measures to stabilise social security system
Benefit payments set to rise faster than GDP in the coming decades, warns central bank
Central banks are ‘riders on the storm’, say Jordà and Taylor
Central banks control less than half the overall variation in interest rates, authors find
Dutch governor attacks ECB’s new stimulus
Klaas Knot says rate cut and QE is “disproportionate to present economic conditions”; Germany's Weidmann also critical
Peruvian central bank on hold as outlook improves
The central bank cut rates in July amid weaker growth and global volatility
Fed policy is reinforcing overvalued equities, Shiller warns
Robert Shiller talks to Central Banking about his latest research, “Narrative Economics”
Denmark cuts main rate, mirroring ECB’s move
Scandinavian central bank has pegged the krone to the euro since the single currency’s launch
Papua New Guinea upgrades payment system
More financial institutions to use new central switch in bid to improve efficiency and inclusion; international networks also to be added
BoE paper looks at how to halt ‘cascade’ of settlement fails
“Buy-in” process could help to avoid system-wide “gridlock”, but design is challenging
BoE’s Hauser urges firms to adapt to forex market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says