Risk
Custodian use in upper-middle income economies declines
Unstable jurisdictions, such as Afghanistan or Venezuela, face risk of losing access to assets held abroad
Investment committees play dual reserve benchmark roles
Final decision made by committees at half of responding central banks
Kenya’s banks told to prepare climate risk plans by 2022
Central bank publishes guidance urging banks to integrate climate risk into broader risk management
CBDC just one option for future payment system, says BoJ official
Japan’s central bank says CBDC could solve safety and interoperability issues, but is not the only option
PBoC suffers headaches from growth, energy and Evergrande
Yi Gang mulls property sector risks, as China’s growth hits one-year low
Most central banks invest in derivatives
External managers facilitate wider use of these instruments
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
DNB calls on government to calm Dutch housing market
Tax reforms and greater supply needed to deal with “too much money and too few houses” – Knot
MAS consults on ‘Cosmic’ risk info-sharing platform
Digital platform for AML/CFT information sharing could be launched as soon as 2023
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
Podcast: Fintech and the question of central bank autonomy
Central banks should ensure their fintech activities do not undermine transparency and independence, say Wouter Bossu and Arthur Rossi
Evergrande tests China’s commitment to deleveraging
Chinese officials are having to choose between near-term growth and long-term economic health
FSB relaunches global surveillance framework
New approach aims to be more systematic and reflect FSB’s “broad membership”
Many central banks are sole macro-pru agency
Two-thirds of respondents say central bank alone can impose macro-prudential restrictions
BoE cuts UK growth forecast
Inflation likely to stay above 4% for first half of 2022 amid supply constraints and energy squeeze – MPC
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
ECB climate stress test reveals uneven risks across eurozone
First step in ‘climate roadmap’ assesses 1,600 banks and over four million firms
Foreign vulnerabilities can affect domestic growth – BoE paper
Study of ‘GDP-at-risk’ shows financial factors overseas can lead to worse outcomes locally
RBI steps up work on climate change
Sustainable Finance Group will “spearhead” climate-related supervision and regulation
ECB’s stress capital buffer still a ‘black box’ – banks
National regulators retain wide latitude to set Pillar 2 Guidance under new rules
NPLs down in nearly 70% of jurisdictions, despite Covid-19
Lower income nations hit harder than most during past five years; Asia, Africa and Americas NPLs on different trajectory to Europe