Risk
Peru holds rate at 7.75%
Central bank maintains policy unchanged since January, although inflation remains over target
Book notes: States and the masters of capital, by Quentin Bruneau
Chronicling the practices and players involved in privately financed sovereign debt
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
Book notes: Money and the rule of law, by Peter Boettke, Alexander Salter and Daniel Smith
A largely US-focused book, which hankers for more robust rules for central banks but isn’t explicit as to what kind
Risk Management Benchmarks 2023 – presentation
Specialist Victor Mendez-Barreira discusses market volatility, cyber security and progress on climate change
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
Higher inflation and rates will not reverse asset diversification
Most reserve managers expect diversification will continue, whether unchanged, accelerated or at a slower pace
Above-target inflation main risk for reserve managers
Central banks rank geopolitical tensions as the second most pressing risk in 2023
Finance must do more on climate risk, BoE’s Breeden says
Sector using lack of certainty as “an excuse to go slowly,” senior official says
Decentralised finance is here to stay
Whatever happens to cryptocurrencies, tokenisation is the future
‘Back to the future’ for FX reserve management
Rise in bond yields changes the dynamics of ‘security, liquidity and return’, writes Gary Smith
Governance Benchmarks 2023 report – the frameworks that underpin central banks
Data reveals differences in profits, appointments and policies among EMEs and advanced economies
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks
Credit Suisse collapse triggered eurozone contagion – ECB’s Enria
Enria says some kinds of contagion were more dangerous than others as Swiss G-Sib collapsed
Central Banking Awards 2023 – the winners in full
Awards recognise extraordinary achievements by central banks and their partners in the past year
IMF review finds flaws in Covid-19 response
Key departments lacked sufficient staff and fund missed surge in inflation, IEO report says
How Finma milked Credit Suisse’s CoCos to close UBS deal
An unusual clause in Swiss AT1 bonds allowed them to be written off, but could others ever follow suit?
Apac central banks reassure amid Credit Suisse woes
Central banks in Australia, Singapore and Hong Kong say banking systems remain stable
BoJ flags risk management problems at banks
Central bank also tries to allay concerns over Japanese banks amid SVB crisis
BIS Project Icebreaker proposes cross-border retail CBDC model
Central banks used smart contracts and worked with FX providers to cut costs and risk
China sets modest growth target ahead of leadership reshuffle
Outgoing premier Li calls for accommodative policy and warns of property sector risks
Easing supply chain pressures could bring US inflation below 4%
But authors with the New York Fed warn a further oil shock could keep inflation near 6% in 2023
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
Fed, FDIC, and OCC warn banks over crypto deposits
Risks from crypto firm deposits are correlated, heightened and unpredictable, Fed says