Euro
High income economy central banks’ technology costs vary widely
Some central banks in advanced economies have kept costs as low as those in poorer nations
A rebuttal of Philip Turner’s criticism of the BIS ‘house view’
Robert Pringle critiques the key findings raised in Philip Turner’s occasional paper, ‘The new monetary policy revolution: advice and dissent’
A bellwether moment for CBDC plans
The launch of the ‘sand dollar’ may herald a new era of CBDCs as the Fed and ECB step up their preparations
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions in March 2020 forestalled a damaging global financial crisis, as policy overhaul prompts introspection in Europe and Japan
Economics in central banking: ‘Patterns in invoicing currency in global trade’, Emine Boz, Camila Casas, Georgios Georgiadis, Gita Gopinath, Helena Le Mezo, Arnaud Mehl and Tra Nguyen
An extensive data-gathering exercise allowed the authors to shed new light on critical aspects of policy-making in a globalised world, while clearing a path for other researchers to follow
Advisory services: Oliver Wyman
The consultancy has built a reputation for analytical excellence and governance expertise, and counts leading central banks across the globe as its clients
National Bank of Denmark simplifies monetary framework
Central bank aims to reduce excess liquidity effect on money market rates
Corporate Services Benchmarks 2021 report – trends in financial reporting and administration
Insights on staffing and salaries, technological automation, data security, rule compliance, gender equality and green office spaces in accounting, audit, HR and administration
Ulrich Bindseil on the launch of the digital euro
The ECB’s director-general for market infrastructure and payments speaks about the functionality, tiering approaches, privacy policies, ledger technology and ecosystem impact of the eurozone's planned CBDC
ECB grants post-Brexit reprieve on large exposures limit
Exemption for intra-group exposures to UK will be preserved pending a decision on equivalence
Firms and households form inflation expectations very differently – paper
Confidence in economy has strongly divergent effects, Central Bank of Ireland research finds
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
SNB still ready to depreciate franc despite US condemnation
Swiss central bank stands firm after US Treasury labelled Switzerland a currency manipulator
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021, despite CFTC saying 2,400 companies still exposed and Fed extending some US libor contracts until mid-2023
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan; urges ECB to reject Fed-like average inflation targeting
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
How can central banks secure the future of money?
Central banks should start tackling the accounting, legal and policy challenges related to CBDC. This work will shape the future of money, as could be witnessed in Albania
Powell, Lagarde and Bailey express caution on CBDCs
Jay Powell says Fed must get any future CBDC right, rather than “being the first”
EBA wants Basel to revisit prudential rules on software
Banking regulator set to soften capital impact of IT assets, but proposals are still out of line with US
Currency Benchmarks 2020 report – the data behind the cash cycle
Perspectives on staffing, circulation, forecasting, fraud, substrate choice, outsourcing and climate risk