Foreign exchange
SNB’s Maechler: innovation hub in race to catch up with fast-paced markets
Swiss hub is laying foundations for a fast market-monitoring platform
Colombia draws on IMF’s FCL funds for first time
Government resorted to $5.4 billion drawing to help meet higher pandemic financing needs
BIS paper explores reasons for large gold reserves
Researcher says large holdings can be justified, but only for some purposes
Is the RBI doomed to fail its ‘quest for financial stability’?
Covid-19 has set back progress on hard-won reforms. As the economy struggles to recover, the RBI and government must walk a treacherous path back to safety
MAS unveils yuan funding for banks in Singapore
New funding scheme of up to 25 billion yuan replaces overnight funding facility
Public policy lines blur: implications for reserve managers
Crisis-fighting has pushed central banks into new forms of risk-taking, and this is now spilling into reserve management, says Jennifer Johnson-Calari
Turkish finance minister quits after president fires governor
Finance minister resigns before new governor signals he will consider raising policy rates
MAS and Bank Indonesia extend currency agreement
Leaders agree to extend bilateral repo and currency swaps arrangements for another year
South Sudan president fires governor again
President has now fired four governors and eight finance ministers, as multiple crises continue
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Swiss National Bank opposes ban on ‘war material’ assets
Central bank says referendum motion is ill-defined and would hurt reserves management
Reserve Benchmarks 2020 – presentation
Central Banking’s reserves subject matter specialist Victor Mendez-Barreira speaks with Chris Jeffery about tranching trends, euro stutters, climate and ESG, external managers, liquidity stress tests and coverage ratios
Turkish central bank tries to tighten policy without hiking rates
Currency continues to slide as data shows central bank’s FX reserves fell by one-sixth in 12 months
Argentina allows peso to fall faster
Central bank increases repo rate as currency falls and inflation rises, despite severe GDP contraction
BIS paper explores impact of sterilised FX interventions
Authors say economic and financial stability implications of intervention have been understudied
BoK launches facility to guard against dollar liquidity squeeze
South Korean central bank creates new facility to cut risk of dollar liquidity crisis, after extending Fed swap line
Taiwanese central bank asks for smaller dollar trades
Large dollar orders may slow down foreign exchange transactions, central bank says
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
An end to the loveless marriage with the US dollar?
Covid-19 represents an unexpected shock that could cause further US dollar decoupling, which could show up in next week’s Cofer data release, writes Gary Smith
Nigerian central bank cuts rates despite rising inflation
Country faces falling output and rising prices as general strike vote increases pressure
Spread gap between green and grey bonds closing – BIS specialist
Measuring and incorporating sustainability still a challenge, says Omar Zulaica
One third of reserves staff work in front-office roles
Average reserve management team size is less than 30 employees
EM reserves ‘crucial’ in mitigating Covid-19 outflows, says Mauritius governor
Foreign exchange buffers helped to mitigate volatility in financial markets
SBP offers overseas Pakistanis access to digital banking services
Prime minister says he hopes the Roshan Digital Account will help channel foreign exchange to Pakistan