Risk
RBI launches action plan to tackle weak non-banks
“Prompt corrective action” framework echoes rules in place for banks
Fed doubles pace of quantitative easing taper
FOMC says recent inflation figures and labour market strength drove the decision
Alternative data fuels central bank research
Important research areas include monetary transmission, exchange rates, digitisation, SMEs and climate change, against the backdrop of Covid
Podcast: Waking up to net zero
BNP’s Jane Ambachtsheer says central banks should not be held solely responsible for achieving net zero, but they have a significant role to play
Quarles says Congress should rein in Fed funding
Former vice-chair for supervision calls for new body to wind down liquidity programmes
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Podcast: central banks’ data models going granular
Vizor Software’s chief technology officer, Ryan Flood, provides an update on changes to central banks’ regulatory data models
ECB says banks are falling short on climate risk
Actions are “too slow” and no supervised bank is “close” to meeting expectations, central bank says
State Bank of Pakistan hikes interest rate by 150 basis points
IMF reached “staff-level” agreement with Pakistan for long-awaited loan two days after the hike
Digitisation: transforming the role of central banks
With the rapid pace of technological change in global financial markets, central banks are increasingly recognising that many legacy tools, methods and manual processes are inadequate, writes Sachin Somani
ECB warns of ‘pockets of exuberance’ in credit, asset and housing markets
High inflation could have “longer-lasting” effects and weigh on the recovery, says financial stability review
Basel Committee launches principles for climate supervision
Basel framework can accommodate climate risks, but supervisors need guidance, committee says
Vietnam’s central bank warns of high inflation risk in 2022
Governor Nguyen Thi Hong admits bad debts have increased, as banks struggle with impact of Covid
Brazilian governor outlines climate reporting rules
Campos Neto says Brazil’s banks must file climate risk reports from June 2023
BIS paper flags ‘notable gaps’ in CBDC research
Policy work on cross-border CBDCs is “marching beyond the research frontier”, say economists
CBDC issuance should not be rushed, say central bank experts
Officials at Singapore Fintech Festival warn central banks must be alert to risks of CBDCs
EU should demand banks set climate transition plans – Elderson
Officials acknowledge climate risk has become central topic, but say most institutions fail to meet supervisory requirements
MAS embarks on retail CBDC study
But Singapore sees no pressing need for retail central bank digital currency, MAS says
Riksbank studies link between equity prices and interest rates
Measures that do not directly account for interest rates can better explain historical prices
Centralised climate change teams crucial, central bankers say
As COP26 begins, central banks are focusing on improving governance of their climate actions
Nordic central banks stress limits to tackling climate change
Central banks face challenges in greening reserves management and monetary policy