Central Banking
Bitcoin is a rival to gold, not the dollar – Powell
Fed chair’s comments come as cryptocurrency passes $100,000 valuation
CBDCs would reduce foreign exchange risk – LSE study
Adoption of digital currencies could mean lenders needing to hold less regulatory capital
BSP completes wholesale CBDC proof-of-concept tests
Central bank names off-hours interbank payments as potential use case
BIS study examines ways to improve catastrophe insurance
Financial Stability Institute says “parametric” policies can help businesses weather the storm
Eurozone needs ‘exceptional mechanism’ to resolve banks – BdF
Bloc is ready to resolve most challenges but still needs liquidity mechanism for larger lenders
Inflation targeting regime needs reform – BIS paper
Authorities should recognise what monetary policy can and cannot do, argues Claudio Borio
BIS and World Bank find central banks split over retail CBDCs
Study says many institutions see value in launching fast payments systems first
South Korea pledges ‘unlimited liquidity’ to stabilise markets
Authorities ready to support stock, bond, short-term funding and FX markets amid political turmoil
OECD highlights ‘resilient’ economies beset by risks
Geopolitics, high public debt and possible repricing in private credit markets threaten outlook
Reserve Bank of Zimbabwe maintains interest rates at 35%
Central bank keeps policy tight following September devaluation and spike in inflation
Police detain Polish central banker in Pegasus spyware investigation
Former spy chief said secret services should have access to cutting-edge surveillance
BoE to reduce frequency of stress tests on major UK banks
Large-scale exercise will now be conducted every other year instead of every year
Central Bank of Iraq bans payments to ‘agents’ of TikTok
Platform is “offensive to the social fabric”, says minister of communications
Central Bank of Tunisia to lend up $2.2 billion to government
Loan amounts to around 28% of the central bank’s foreign currency reserves
Pan: PBoC will continue ‘supportive’ policy next year
Central bank also expands M1 definition as governor Pan Gongsheng signals continued stimulus
South European states benefited most from NGEU – ECB
Recovery and resilience facility’s structural reforms expected to pay off in the long run
‘Financial conditions targeting’ could help stabilise output – paper
“Risk-centric” New Keynesian model highlights benefit of acting on financial conditions
Digital euro’s ‘cash-like privacy’ hinges on offline functionality
Update report notes disagreement between banks and consumer representatives on key design aspects
Bank of Uganda launches investigation into $17m ‘hack’
Central bank declines to comment on millions of dollars reportedly stolen via diverted payments
Pandemic macro-pru in Africa was effective – FSI study
Paper from Basel-based institute says relaxing macro-prudential requirements can boost bank lending
Market-based systemic risk metrics ‘crucial’ for supervisors
Paper finds measures are effective at predicting crises in the US over a long period
BoE stress test highlights liquidity risks in non-banks
“First-of-its-kind” scenario exercise reveals how repo financing could be insufficient during shocks
BoJ considers parallel processing in CBDC design
Central bank adds two new working groups to its preparations for digital currency pilot programme
Australian parliament passes bill to reform RBA
Bank’s board to be split into two groups covering monetary policy and governance