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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
Sama changes name again under new central bank law
Law change updates and clarifies central bank’s role and responsibilities
Currency Benchmarks 2020 report – the data behind the cash cycle
Perspectives on staffing, circulation, forecasting, fraud, substrate choice, outsourcing and climate risk
World faces systemic debt crisis, IMF warns
IMF calls for urgent reforms and Japanese finance minister criticises China over debt agreement
Computing platforms for big data and AI
Implementing big-data and high-performance computing platforms is critical to support machine learning applications. Rafael Schmidt and Bruno Tissot offer insights on developing a comprehensive information strategy
CLS proposes second-tier FX settlement system
Stripped-back system for EM currencies mooted to tackle rising settlement risk
Liberian government puts five central bank officials back on trial
Prosecutor alleges former governor and deputy governor carried out “economic sabotage”
Afghan officials allege new governor ‘illegally’ suspended them
Governor alleges corruption by officials but former IMF official condemns “shocking” move
FCA to gain new powers to tackle ‘tough legacy’ issues in Libor transition
Untangling complex legacy issues is looking increasingly difficult as delays mount due to Covid-19
A better way to buy private sector securities?
Central bank asset purchases can do more harm than good and are often conducted on a flimsy legal basis, writes HKU’s Bryane Michael
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
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
Some thoughts on CBDC operations in China
People’s Bank of China deputy governor Fan Yifei outlines why he favours an indirect approach to introducing a CBDC in China
The dawn of a safer and sounder European banking sector
Implementation of two pillars of banking union has led to significant improvements in the safety and soundness of the European banking system
Stability versus solvency
There is still far too much regulatory forbearance on troubled bank debt. More on-site inspections and genuine writedowns are needed to fix the banking system
Custody initiative: Euroclear
The securities depository has debuted instant dollar settlement in central bank money outside the US – a service that has virtually eliminated settlement risk
Watch out for Brexit cliff edge 2.0, experts warn
Measures to mitigate a sharp rupture for financial services could be less likely at end-2020
BoE probes press conference audio feed leak
FCA investigates alleged leak of backup feed to third parties before main broadcast
The challenges facing Christine Lagarde
The new ECB president will need to focus on a successful review of the ECB’s monetary and communications policy, while encouraging fiscal stimulus and structural reform
Kenyan high court dismisses challenge to new banknote series
Central bank had been accused of violating constitution with banknote designs
MAS launches initiative to help payment firms with compliance
Two-month pilot will help connect payment firms with legal service providers
Trade war may delay renminbi as reserve currency, says reserves manager
Central banks are cautious when building renminbi reserves due to legal and liquidity issues
Market competition fuels volatility in frail regulatory environments – Bank of Spain research
Increased instability associated with higher default rate triggers a 3.3% loss of output
Bulgarian central bank wins court case against Omani state fund
BNB says Washington tribunal ruled it acted properly in closing down bank