Bank for International Settlements (BIS)
US and IMF block Taliban access to Afghanistan assets
IMF will not allow Taliban to receive SDRs, while US freezes central bank reserves
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
Systemic banks shrink balance sheets at reporting dates – BIS paper
Authors find “systematic” balance sheet compression often results in lower capital requirements
Fed decisions barely noticed by households – BIS paper
Researchers find even major events have only a muted impact on household inflation expectations
BIS paper highlights ‘ripple effect’ of monetary policy
Balance sheets of upstream and downstream firms “salient, yet mostly overlooked”, authors say
Ecuador central bank doubles BIS credit line
Central bank to treat funds as precautionary to deal with a future downturn
The renminbi’s inclusion in the SDR adds impetus to its internationalisation
Bank of China (Hong Kong) highlights the importance of opening up the onshore renminbi (RMB) foreign exchange market and improving the development of offshore RMB FX markets
Big techs should be assessed for systemic importance – BIS
Safeguards needed to guarantee operational resilience of financial system
Criteria for systemically important payment infrastructure differs
Thirty-one out of 37 central banks said they designate systemically important payment infrastructure
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
BIS ‘Project Nexus’ targets 60-second cross-border payments
Project seeks to link up existing fast payment systems, but several hurdles remain
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.
BIS paper warns against ‘timid’ QE and ‘debt-averse’ fiscal policy
Policy mistakes at zero lower bound can worsen economic problems, authors say
Inflation fears are ‘overstated’ – BIS research
‘Little evidence’ of the forces that normally lead to persistent inflation, bulletin article says
Most central banks communicate in at least two languages
Central banks must weigh challenge of translating sensitive messages against reach
BIS paper sees fintech creating ‘barbell’ market structure
Authors say regulators should take action as digital innovation drives changes in market structures
CBDCs provide ‘clean slate’ for cross-border payments, says report
International bodies urge central banks to bolster CBDC co-operation
Climate training hub launched by international consortium
BIS training platform will act as single access point for climate risk training for central banks
World Bank appoints Caribbean and central Asian directors
New York Fed names chief of innovation hub and St Louis appoints head of economic equity institute
Stress tests may be poor guide to capital levels – BIS paper
Authors develop model of how “noisy” tests may cause problems for regulators
BIS annual report: ‘disaster averted’ but world ‘not out of the woods’
Report weighs up three scenarios for “pandexit”, none of them without drawbacks
BIS pays out double dividend after bumper profit
Recovery from Covid-19 handed the BIS its second-largest profit in its history
BIS’s Luiz Pereira on tackling the climate crisis
Deputy general manager highlights the challenge posed by radical uncertainty, the benefits of carbon budgeting, and the case for acting now
Carney warns CBDC delays play into hands of big tech
Failure to launch CBDC risks entrenching power of tech firms, former BoE governor says