Euro
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Lagarde sees risks in ‘new global map of economic relations’
ECB president says fragmentation through “friend-shoring” and regionalisation is rising
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
ECB opens €10 billion swap line with National Bank of Poland
Central bank extends repo lines with non-eurozone counterparts until January 2023
West African central bank denies devaluation
CFA franc has been pegged to European currency since establishment
Book notes: Shutdown, by Adam Tooze
A useful, wide-ranging overview, showing how health and economic policies are intimately intertwined with geopolitics
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
SNB profits rise to $28.5 billion
Central bank reaffirms pledge to halt appreciation of the franc
Rethinking sovereign risk
‘Risk-free’ assets now include the possibility of complete confiscation with no recourse
Navigating the digital transformation at Deutsche Bundesbank – an update
Joachim Wuermeling explains how the Covid-19 pandemic and other developments have affected the German central bank’s digital transformation during the past two years
The longest book ever written?
The Single Rulebook on EU financial regulation is a serious contender for the prize of the longest book ever written. But will it deliver a safer and better financial system?
Central bank social media trends in the ‘Instagram age’
Uptake of visual social media platforms rises, as Facebook usage plateaus
Podcast: Oliver Wünsch on a solution to eurozone fragmentation risks
A common fiscal authority could offer stability, but would require sharing more sovereignty
Book notes: Shades of sovereignty, by Paul Wilson
An essential and stimulating read for central bankers thinking about the monetary history of their state in relation to its historical perspective and broad international trends
Currency Benchmarks 2021 report – executive summary
Perspectives on staffing, circulation, forecasting, note security and composition, outsourcing and more
ECB to choose new euro banknote designs by 2024
Banknote designs will be chosen by governing council, but public input will be vital
Has the SNB accepted a stronger franc?
Swiss central bank reduces FX interventions as currency breaks 1.05 ceiling against the euro
People: RBNZ chief economist to leave after 25 years
ECB appoints lead for digital euro project and new director for banknote department
‘Say what?’ Trust in central bank communications
Central banks are changing how they communicate with different audiences, but judging the success of these communication efforts is difficult
ECB appoints members to new ‘digital euro’ board
Advisory board’s 30 members will advise on potential digital euro models
ECB paper examines ‘euroised’ economies
European countries’ informal adoption of euro places limits on central banks, says working paper
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill