Banks
Non-bank access to RTGS systems still rare
Only a handful of central banks allow non-bank users
Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
Understanding informal remittances
Better tracking of remittance flows could give central banks valuable insights to support policy, say Deepali Fernandes, Amil Aneja and Azar Sultanov
Basel Committee launches principles for climate supervision
Guidance for banks and supervisors designed to create “common baseline” for tackling risks
Officials urge narrow focus as CBDC use cases proliferate
Communication and financial inclusion are critical concerns, Summer Meetings panellists agree
Payments oversight more difficult in poorer nations
Lower income central banks more likely to feel they need more resources
BoE finds ‘shortcomings’ in three UK banks’ resolution plans
Central bank’s first resolvability assessment concludes banks can now fail “safely”
Less than 10% of RTGS systems meet ISO 20022
Most non-compliant central banks plan to implement messaging protocol by 2025
Virtual asset service provider sues Fed
Crypto firm wants “master account” but critics warn of regulatory problems
Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers
Few central banks offer free RTGS transactions
Most central banks use a mix of fixed and variable fees to recoup RTGS operating costs
BoE paper examines microstructure of UK banking system
Authors stitch together supervisory datasets to study likelihood of crisis
‘Unconventional credit policy’ can help avoid lower bound – BIS paper
Liquidity injections can be useful tools but also face limits, authors find
Book notes: The future of money, by Eswar S Prasad
Prasad’s book is the best on the topic so far, providing the most complete description of issues and factors that will shape the future of money
BoE climate stress test finds impact will fall on bank customers
Sam Woods questions whether capital is “best tool” to address climate change
Riksbank launches 24/7 instant settlement system
Rix-Inst operates on same technology as ECB’s Tips system
Tackling private-sector debt in the wake of the pandemic
Navigating Covid-19 debt is more of a challenge amid gathered storms of inflation and war, write Roong Mallikamas and Benjamin Weigert
Fed hiring more staff to examine cloud providers
Regulator wants to put more “boots on the ground” at firms such as Amazon, Google and Microsoft
Chinese authorities investigate senior PBoC official
Anti-corruption agencies launch probe into sacked head of monetary policy department
ECB paper makes case for mixed ownership of banks
Foreign state-owned banks tend to play stabilising role during domestic banking crises, authors find
How to stop stablecoins from hoarding precious collateral
Repo markets expert and crypto bank chief exec think Fed reserves are the right answer
Sarb puts South African bank into receivership
Central bank concerned by governance at lender owned by union and employers’ trust
The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals, amid calls from some parties for higher inflation targets
Shadow banks: the biggest threat to US financial stability?
Non-bank risks may be the greatest problem facing the Fed’s incoming vice-chair for supervision