The Group of 20 and Bank for International Settlements have launched a new cloud-based ‘TechSprint’ initiative to see how technology can streamline regulatory and supervisory processes. “Problem statements” have been drawn up to identify challenges…
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The US has accused Switzerland and Vietnam of being “currency manipulators”, saying their foreign exchange interventions had prevented “effective balance of payments adjustments”. In the case of Vietnam, the US Treasury also accused the authorities…
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The International Monetary Fund has said it is working towards a new arrangement with São Tomé and Príncipe following the country’s “sluggish” economic growth. In a statement on August 6, the IMF said it had…
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European Central Bank headquarters, Frankfurt The minutes of the latest European Central Bank policy meeting on July 22 confirmed the governing council’s divisions on its new forward guidance. The accounts published on August 26 acknowledge…
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The ranking Republican on the Senate banking committee has charged three regional Fed presidents with involving their banks in “politically charged issues” that are beyond the Fed’s remit. Senator Pat Toomey wrote to the presidents…
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Switzerland’s large companies must follow a set of climate-reporting parameters, the Swiss Federal Council ruled on August 18. The seven-member council is effectively the highest office of Switzerland’s federal government. The new reporting principles will…
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A London-based international court has dismissed a case brought by a firm against Ghana’s central bank, which had argued that the claimant had acted corruptly. Ghana-based payment services firm Sibton Switch Systems bought the case…
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Kuwait: Ghanem Suleiman Al-Ghenaiman has been appointed managing director of the Kuwait Investment Authority by the fund’s newly installed board. The KIA is Kuwait’s largest sovereign wealth fund. It had been without a full board since…
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Having worked on its Digital Currency Management System since 2016, Bitt has launched the first synthetic central bank digital currency (CBDC) in Barbados, followed by another first in the Eastern Caribbean Currency Union (ECCU) in…
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Artificial intelligence systems should not be responsible for financial firms’ risk management nor autonomously supervise them, new research from the Bank of England argues. The BoE’s former chief economist, Andy Haldane, writing with Marcus Buckmann…
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