Central banks
The GFXC chair on the next steps for the FX Global Code
Gerardo García speaks about updating FX best practice, improving buy-side engagement and changes to the BIS’s triennial survey
Hedge funds’ pricing often trumps other buy-siders – SNB
Research shows “advantageous” prices result in outperformance of 139bp trading USD/CHF
Philippine central bank may issue wholesale CBDC in two years
However, governor rules out using blockchain-based technology for digital peso
Levelling the playing field for stablecoins
Regulatory asymmetries are a barrier to innovation in digital payments
CBDC features will have financial stability effects – Fed paper
Design choices could cut chance of bank runs and disintermediation, authors say
Banxico’s Garcia on the intervention unwind and FX hedging
The Bank of Mexico’s operations head explains why it’s removing its forwards hedges, and how it manages carry costs
BIS wraps up cross-border CBDC trial
Project Mariana explored FX settlement using ‘automated market-makers’
A ‘unified ledger’ and the future of money
Blueprint set out by the BIS staff raises plenty of questions about the ‘singleness of money’
Major central banks set out CBDC policy debates
BIS and central banks discuss major policy issues that still need to be solved
Central banks step up dollar liquidity support
But initial auction results show little evidence of pressure on dollar funding
BIS welcomes end to investors’ ‘sanguine attitude’
Optimism over future easing clashed with what central bankers were actually saying
BoJ currency intervention spurs FX options traders
Traders turn bearish on USD/JPY FX vol over further central bank intervention
Swift gears up for innovation around digital currencies
Head of innovation at global payments messaging provider is focused on CBDCs, tokenised securities and artificial intelligence
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building
Revival of FX carry strategy leaves quants unconvinced
Record returns in March give little comfort that strategy is ‘back’
Saxo Bank: Lagarde may declare monetary policy overreached limits
In one of its ‘outrageous predictions’ for 2020, the Danish bank says the ECB may wake up to the sad reality of negative interest rates
Mexican government announces CBDC for 2024
Bank of Mexico has yet to comment publicly on the initiative
GFXC names SNB’s Maechler as new chair
Swiss central banker succeeds Guy Debelle
Bank of Tanzania ‘working on CBDC’, governor says
Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
Nigeria launches ‘digital naira’ pilot
Central bank issues $1.2 million in retail CBDC after clampdown on private crypto