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BIS: The Shape Of Business Cycles: A Cross-Country Analysis Of Friedman's Plucking Theory

Date 23/02/2023

Summary

Focus 

As the advanced economies continue to recover from the Covid-19 recession, it would be helpful to know more about how economies typically behave following recessions. While large recessions tend to precede strong expansions, strong expansions do not tend to precede large recessions. Are economic recoveries complete? If not, what factors influence how far a recovery will run?

Bank For International Settlements' Committee On Payments And Market Infrastructures Invites Market Stakeholders To Join Cross-Border Payments Interoperability And Extension Task Force

Date 23/02/2023

• CPMI establishes task force on cross-border payments interoperability and extension to contribute to the G20 cross-border payments programme.
• The task force will work on the extension of access to and operating hours of payment systems as well as their interlinking across borders.
• CPMI invites nominations for the task force from banks, non-bank payment service providers and market infrastructure providers that participate – or plan to participate – in the cross-border payments market as well as industry associations.

BIS: When The Music Stops - Holding Bank Executives Accountable For Misconduct

Date 23/02/2023

The Great Financial Crisis and its aftermath exposed a wave of banking scandals, triggering financial instability and eroding public confidence in banks. Amid economic uncertainty, societal frustration mounted at regulators' perceived inability to hold executives accountable for failures within their banks. In pursuing cases of misconduct, supervisory authorities found it difficult to pinpoint the role of high-level executives because they were often distant from the day-to-day activities where the alleged wrongdoing occurred.

Register For Joint ACER And ENTSOG Workshop On Maximisation And Efficient Use Of Gas Transmission Capacities (14 March 2023)

Date 23/02/2023

What is it about?

The EU Agency for the Cooperation of Energy Regulators (ACER) and the European Network of Transmission System Operators for Gas (ENTSOG) jointly organise a workshop on maximisation and efficient use of gas transmission capacities.

FSB Invites Senior Representatives From Firms And Industry Associations To Join Cross-Border Payment Taskforce

Date 23/02/2023

The Financial Stability Board (FSB) invites firms that participate in the cross-border payments market and relevant industry associations to nominate senior representatives to a new taskforce on legal, regulatory, and supervisory matters that may contribute to enhancing cross-border payments (the “LRS taskforce”).

Statement From US Secretary Of The Treasury Janet L. Yellen On The Nomination Of Ajay Banga To Lead The World Bank

Date 23/02/2023

“I applaud President Biden’s decision to nominate Ajay Banga to lead the World Bank. He has the right leadership and management skills, experience living and working in emerging markets, and financial expertise to lead the World Bank at a critical moment in its history, deliver on its core development goals, and evolve the Bank to meet global challenges like climate change."

US Federal Agencies Issue Joint Statement On Liquidity Risks Resulting From Crypto-Asset Market Vulnerabilities

Date 23/02/2023

Federal bank regulatory agencies today issued a joint statement highlighting liquidity risks to banking organizations associated with certain sources of funding from crypto-asset-related entities and some effective practices to manage those risks.

FSB Details Actions For The Next Phase Of The G20 Roadmap For Enhancing Cross-Border Payments

Date 23/02/2023

The Financial Stability Board (FSB) today published a report setting out priority actions for achieving the G20 targets for enhancing cross-border payments. The report has been delivered to G20 Finance Ministers and Central Bank Governors for their meeting on 24‑25 February. It synthesises the lessons learnt during the first two years of the Roadmap for Enhancing Cross-border Payments, including feedback from stakeholders, and focuses the next phase of work on three interrelated priority themes:

Readout: Secretary Of The Treasury Janet L. Yellen’s Meeting With Finance Minister Of Indonesia Sri Mulyani Indrawati

Date 23/02/2023

Today, U.S. Secretary of the Treasury Janet L. Yellen met with Indonesian Finance Minister Sri Mulyani Indrawati.  During their meeting, Secretary Yellen thanked Minister Sri Mulyani for Indonesia’s continued engagement on the issue of debt vulnerabilities among some emerging and developing economies, and discussed the urgency for accelerated efforts through the G20 to address existing debt restructuring cases. Secretary Yellen congratulated the Minister for the successful launch of Indonesia’s Just Energy Transition Partnership and reiterated the importance for countries to mobilize additional climate finance to meet our emissions reductions goals. The Secretary also discussed supporting the evolution of the multilateral development banks and strengthening the World Bank Pandemic Fund and the G20 Joint Finance-Health Task Force.

Expectations, Lags, And The Transmission Of Monetary Policy - Speech By Catherine L. Mann, Bank Of England, Member Of The Monetary Policy Committee, Given At The Resolution Foundation

Date 23/02/2023

Catherine L. Mann describes how monetary policy affects prices. She explains the channels through which the MPC’s policy decisions have transmitted to financial conditions. She then analyses how this transmits to output and inflation and how this transmission may change. She discusses what that implies for her monetary policy strategy.