France
‘Preventive restructuring’ reduces unnecessary bankruptcies – BdF paper
Researchers compare data from French preventive restructuring and traditional bankruptcy systems
Ulrich Bindseil on the launch of the digital euro
The ECB’s director-general for market infrastructure and payments speaks about the functionality, tiering approaches, privacy policies, ledger technology and ecosystem impact of the eurozone's planned CBDC
Banque de France pledges to drop coal-linked assets by 2024
French central bank will also cut oil and gas exposures, and oppose new fossil fuel projects
BdF paper looks at French law on climate disclosures
Law led to sharp cut in French firms’ holdings of fossil fuel-related instruments, research finds
EU sees huge appetite for new triple-A asset
‘Sure’ bonds offer the ECB a less controversial option for asset purchases
Banks are crucial investment source for French firms – BdF paper
Researchers use BdF database to examine how French companies finance their investments
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
Banque de France names CBDC partners
HSBC and Euroclear among firms chosen to take part in CBDC experiments that include improving cross-border payment infrastructure
Q&A: New York Fed’s Stiroh on climate change and Covid
Co-chair of Basel task force discusses possible supervisory approaches to climate risk
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
French governor says ECB could directly fund loans
Villeroy de Galhau also calls for flexible emergency purchases but rules out yield curve control
Banque de France CBDC project uses blockchain to settle transactions
Central bank and French lender use blockchain platform to pay for €40m securities tokens
Lagarde welcomes Franco-German fund plan
Covid-19 response fund would be drawn from common EU budget
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
People: Sandra Boss quits BoE roles to join BlackRock
Prudential committee member to join asset manager; Coeuré to head committee on Covid-19; State Bank of Vietnam appoints new director-general
Transfer season
Trade frictions with the US have caused a mass industrial transfer to China’s neighbours. Zhou Chengjun, IFF Academic Committee member and inspector of the Macro‑prudential Policy Bureau of the People’s Bank of China, says that shouldn’t stop China…
Crises enliven ‘totalitarian temptations’
The coronavirus pandemic will embolden governments and bodies such as the International Monetary Fund to grasp for more power, writes Steve Hanke
Banque de France predicts 6% economic contraction
Confinement laws have had a significant impact on activity
Banque de France seeks partner for wholesale CBDC project
Project will explore CBDC use cases in interbank payment space
ECB strongly criticised by French and Italian leaders
Lagarde’s words spark Italian anger while Macron says first ECB measures are not sufficient
Lagarde misstep overshadows ‘bold’ measures, analysts say
ECB president seemed to have hampered governments’ debt financing at a critical juncture
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
Lifetime achievement award: Otmar Issing
The architect of the euro’s monetary operating framework is still playing an important role in shaping the debate on monetary policy
Specialised lending initiative: BNP Paribas
A new ‘global’ setup helped secure US dollar-denominated assets from a Eurosystem central bank