Governance
Canada scales back liquidity measures
Policy-makers keep rates unchanged; new governor Tiff Macklem plays observer role on first day
Minutes highlight scale of BoE’s Covid-19 redeployment
Some staff were overwhelmed with work while others had little to do
Bangladeshi governor’s term extended amid pandemic crisis
IMF approves aid worth 50% of Bangladesh’s quota and says country faces major challenges
No date in sight for Fed Board nomination vote
Delays in voting on Judy Shelton and Christopher Waller leave board understaffed during crisis
The complex art of reserve management
The coronavirus lockdown represents another inflection point for central banks seeking to optimise the management of their $12 trillion in FX reserves
OCC chief resigns immediately after finalising controversial regulation
FDIC abandons support at final hour after facing strong criticism from Democratic senators
BIS launches round-the-clock banking with Mexican dealing room
Dealing room expands BIS presence in the Americas as part of “Innovation 2025” strategy
Book notes: Central banking before 1800, by Ulrich Bindseil
A new standard reference point for the history of central banking
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Liberian government releases four central bank officials
Government official says it is “going after” central bank board despite unclear evidence of alleged theft
Bank of Japan appoints first female executive director
Tokiko Shimizu becomes first female executive director since bank was established in 1882
German court leaves Bundesbank caught between two legal decisions
Ruling may hamper ECB’s new PEPP programme as it is not constrained by PSPP limits
Norges Bank proceeds to draw up contract of new SWF chief
Nicolai Tangen’s appointment came under scrutiny after it was revealed he asked incumbent for help during hiring process
The impact of AI adoption on supervisors
MAS’s former data chief says a triad of basic AI training, supervisor data scientist hubs and suptech adoption create strong foundations
Brazil changes law to allow QE amid chaotic response to virus
Finance minister says central bank will “shower” country with liquidity if needed
Fed set to adopt ‘elements’ of price-level targeting
Covid-19 could act as a catalyst for a Janet Yellen-supported Fed move to adopt elements of price-level targeting. But questions remain about the timing of such a move
New Bank of Canada governor selected
Tiff Macklem, the senior deputy governor under Mark Carney, will replace Poloz on June 2
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
Norges Bank supervisory council requests information on SWF’s new head
Executive asked to answer questions on hiring process amid ongoing expenses scandal
RBNZ’s Sam Allen on embracing the cloud
Central bank took a calculated risk in moving its financial markets group to a cloud platform
Norway’s SWF leadership caught up in expenses scandal
Incoming chief executive asked current CEO for a favour weeks after inviting him to a seminar in the US
Proposed changes to law could damage independence – Swedish central bank
Lawmakers’ proposal would hinder crisis management capability, Sveriges Riksbank says
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
IMF urges countries to use fiscal firepower against Covid-19
“Do whatever it takes, but make sure to keep the receipts,” says IMF fiscal chief