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BIS: Effects Of Banco de la Republica's Communication On The Yield Curve

Date 14/06/2022

Summary

Focus

Communication is nowadays an essential instrument in the conduct of monetary policy. Consequently, central banks are interested in assessing their communications strategies in order to determine whether or not information is disseminated with clarity and in such a way that they contribute to the effectiveness of monetary policy.

The Africa Financial Industry Summit-AFIS Will Hold Its First In-Person Event In Lomé November 28-29, 2022

Date 14/06/2022

• Founded in 2021 by Jeune Afrique Media Group and the AFRICA CEO FORUM, the AFRICA FINANCIAL INDUSTRY SUMMIT-AFIS will be held in Lomé, Togo, November 28-29, 2022 for its first in-person gathering. 
• The AFRICA FINANCIAL INDUSTRY SUMMIT-AFIS will bring together more than 600 participants, including the most prominent leaders in banking, insurance, fintech and capital markets, as well as key policy makers.
• The AFRICA FINANCIAL INDUSTRY SUMMIT-AFIS supports the African financial sector to improve financial inclusion and grow as a truly pan-African financial services industry. The upcoming AFRICA FINANCIAL INDUSTRY SUMMIT-AFIS is organised in partnership with the International Finance Corporation (IFC), the World Bank Group's private sector organisation, the Republic of Togo, Ecobank and Deloitte. 

Royal Bank Of Canada (RBC) And Envestnet Data And Analytics Announce Agreement To Provide Clients With Greater Control Over Their Financial Data - For The First Time, More Than 14 Million RBC Clients Have Direct Connection To Envestnet | Yodlee’s 1,500+ Apps And Services

Date 14/06/2022

RBC is pleased to announce a data access agreement with Envestnet | Yodlee, a leading data aggregation and analytics platform, to address the needs of an increasingly digital customer base. The agreement allows RBC clients to better manage their finances and build wealth by connecting to and sharing their RBC financial information with more than 1,500 third-party applications powered by the Envestnet | Yodlee platform.

Municipal CUSIP Request Volumes Rise In May, Corporate Volumes Flat - Short-Term CDs Extend Five-Month Growth Streak

Date 14/06/2022

CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for May 2022. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, found a monthly increase in request volume for new municipal identifiers, while requests for new corporate identifiers were largely flat on a monthly basis.

Competitiveness And Productive Investment: What Parts Do They Play In The Reform Of Insurance Regulation? – Speech By Charlotte Gerken, Bank Of England, Executive Director, Insurance, Given At JP Morgan European Insurance Conference

Date 14/06/2022

Charlotte Gerken talks about the goals of competitiveness and productive investment, and the impact these are having on the Review of Solvency II. She says that changes to regulations for UK insurers could help to achieve these goals.

A Message From Coinbase CEO And Cofounder, Brian Armstrong

Date 14/06/2022

Earlier today, I shared the following note with all Coinbase employees.

BIS: Seeing The Forest For The Trees: Using hLDA Models To Evaluate Communication In Banco Central do Brasil

Date 14/06/2022

Summary

Focus

There is a widespread consensus that central bank communication influences the expectations of economic agents, and that increasing transparency enhances the effectiveness of monetary policy. Central bank communication has moved beyond simply informing agents on the perceived current and future state of the economy to becoming a key instrument to anchor inflation expectations. Therefore, it is essential to assess whether the central bank is efficiently communicating the intended signals to market and economic agents.

Eris Sets New Daily Record With 159,924 Contracts Traded On June 7

Date 14/06/2022

• CME Eris Swap Futures volume hit 159,924 contracts on Tuesday, June 7, surpassing the previous record of 148,205 set on March 10
• Quarterly rolls in 2y Eris Libor (LIT) were a primary driver, fueled by recent record front-month open interest from increased hedging by end users
• Volume included block trades rolling to Eris SOFR Sep from Eris Libor June contracts across multiple tenors, including 2y, 3y, 4y and 5y

Pirum Launches The Jim Malgieri Summer Internship Program

Date 14/06/2022

In honour of the highly respected and much missed Jim Malgieri, Pirum has launched the inaugural “Jim Malgieri summer internship program” in conjunction with Seton Hall University (Jim’s alma mater).

BIS: Alternative Monetary-Policy Instruments And Limited Credibility: An Exploration

Date 14/06/2022

Summary

Focus

Inflation-targeting frameworks has led the literature to focus on monetary policy rules with a short-term interest rate as the main instrument. However, this is not representative of monetary policy implementation around the world. According to IMF AREAER database, in 2019 only 21% of 192 countries use such an instrument. Also, most studies analyzing rules for interest rates assume rational expectations and a high degree of credibility. However, many low-income and emerging countries face limited credibility. This paper study on what extent the instrument choice depends on the limits to credibility.