Governance
Central bank of the year: Bank of Korea
South Korea’s central bank was the first developed-world central bank to tighten policy to address inflationary risks
Risk management technology: BlackRock’s Aladdin Risk
ESG feeds into integrated position reports, customised benchmarking and robust scenario analysis assist prudent reserve management
European authorities freeze Lebanese governor’s assets
Riad Salameh one of “five main suspects” subject to €120 million asset seizures, say prosecutors
Economics Benchmarks 2021 – presentation
Central Banking’s economics subject matter specialist Daniel Hinge speaks with Chris Jeffery about governance, modelling, forecasts and research
Role of boards differs widely across central banks
All benchmark respondents have boards, but powers and responsibilities show great variety
More central banks have diversity and sustainability policies
But these policies remain less common than codes of ethics and whistleblower policies
Albania orders first rate hike in 11 years
Increase of 50 basis points returns policy rate to pre-Covid level
Heads of state often play key role in governor appointments
Benchmark respondents say governors’ terms last four to seven years
Mexican president leaks news of central bank’s rate hike
López Obrador reveals 50bp rise hours before monetary policy announcement
Ida Wolden Bache becomes Norges Bank governor as MPC raises rates
Jens Stoltenberg steps down from role due to Ukraine crisis
Board sizes vary widely across central banks
Board terms average around five years and non-executive directors are common
Korean president names new central bank governor
Rhee Chang-yong is currently IMF Asia-Pacific director
Central Banking Awards 2022: second tranche announced
Awards published today include capacity building, communications, website and global markets
Advisory services: Kroll
The US firm shed light on the ‘missing banknotes’ scandal in Liberia, and is now working with the central bank to overhaul its cash operations
Lebanese judge brings corruption charges against governor
Salameh denies all wrongdoing as his brother is transferred to another judge’s custody
Three-quarters of surveyed central banks answer to parliaments
Held accountable: benchmark responses on how central banks report on their activities
ECB supervision and the state of the eurozone’s banks
ECB banking supervision has passed the first stage of the Covid-19 test. But many challenges remain, including banks’ internal governance and data processing, excessive leveraged lending in some segments, and a lack of progress towards a more competitive…
Sri Lankan currency falls sharply after central bank changes policy
Rupee falls below central bank’s expectation and government says it will seek IMF aid for crisis
Mexican financial institutions create gender equality committee
Eleven public and private institutions join initiative promoting women’s participation in the economy
Uzbekistan central bank orders 300bp rate increase
Board refers to “high uncertainties and tensions in the external economic environment”
Governor salaries range as high as $1 million
Base pay tends to rise with GDP per capita, but there is wide variation, benchmark data shows
Governor of the year: Mario Marcel
Chile’s governor has expertly navigated a third currency crisis in two years, amid wider EM stress and political volatility, while bolstering the central bank’s capabilities
Kuwait’s government names new central bank governor
Basel Al-Haroun will begin five-year term on April 1
People: Sarb appoints new Prudential Authority chief
New Malaysian assistant governor to take office in April, and RBNZ hires chief economist