Data
Rising spillover risks from macro-prudential policies
Tools used to restrict credit in specific sectors can increase the riskiness of credit in other areas, creating challenges in the use of household-specific and corporate credit-calming measures, write Lucyna Górnicka and Apoorv Bhargava
MAS’s Vincent Loy and Celine Sia on transforming data management
The assistant managing directors explain how uniting business and technology functions is opening up new possibilities for data collection, governance and analytics
China abandons cryptocurrencies under the PBoC (this time it’s for real)
New data centres set to be established to compensate provinces for lost crypto mining revenues
FCA proposes expanding climate-risk disclosure rules
Climate disclosure proposals are first “substantive” policy for asset managers since Brexit
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
The winners of the 2021 FinTech RegTech Global Awards
Fourth annual tech awards recognise excellence among central banks and the firms they work with
BoE’s Bailey says CBDCs could be ‘fundamental’
Innovation hub run by BoE and BIS hub likely to concentrate on CBDCs and payments, official says
Germany facing ‘strong upswing’ – Bundesbank
Central bank revises 2021 GDP growth forecast from 3% to 3.7%
Singapore banks step up their game against internal fraud
Firms respond to MAS warnings about the dangers of remote working spurred by Covid
Financial sector still a headache for central bank modellers
Macro-financial links are difficult to integrate into key models, with progress since the global financial crisis slow. But some central banks are making breakthroughs
Firms and supervisors must ‘transform’ climate risk management – regulators
Complexity and uncertainty demand major rethink of risk, say ‘Green Swan’ event speakers
Mandatory climate disclosures needed now – senior central bankers
Greening monetary policy operations should also be a priority, policy-makers say
RBNZ’s Orr admits ‘shortfalls’ on cyber security
But KPMG report also lays blame on vendor for delays in pushing out critical software update
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief voices concerns about the timing of stablecoin and CBDC roll-outs, fintech risks for supervisors and monetary policy, and details development plans for eight innovation locations
BoE’s Breeden urges financial firms to run climate scenarios before ‘time runs out’
Firms need to re-examine risk models to ensure all transmission channels are considered
Governors at four in five central banks left before their term ended
Countries with highest governor turnover were experiencing political instability
Cash infrastructure as public good – implications for the cash cycle
Efforts are under way in the Eurosystem to safeguard cash infrastructure as a ‘public good’ even as transaction volumes have fallen significantly. How can policy-makers strike the right balance?
Four in 10 central banks have legal right to be consulted on mandate changes
Most have legal restrictions on their ability to use monetary financing to fund the government
Danish central bank urges use of payments data in forecasts
Data provides good forecasts during normal times, but deteriorates in stressed conditions
The evolving ‘strategy function’ in central banks
Some institutions participating in a survey of 27 central banks still struggle to fully harness an effective ‘strategy function’, according to the ECB’s Jean-Charles Sevet and Alejandro de la Cuesta
People: UK’s FCA appoints head of ESG
Burundian senior officials switch roles and senior Vietnamese supervisor is promoted
Black applicants face US mortgage discrimination – Philadelphia Fed paper
Lower approval rate cost Black Americans more than $200 billion between 1994 and 2018
Zhang Tao on the IMF’s fintech agenda, CBDCs and big tech oversight
IMF deputy managing director speaks about the fund’s perspectives on CBDC operating frameworks, regulating big tech and macrofinancial oversight in a digital world
PBoC’s Yi says central banks can contribute to net zero
Mandatory disclosures and stress tests are needed to incentivise market’s transition to green economy, PBoC governor says