report December 8, 2021 Project Jura – Cross-border settlement using wholesale CBDC Jura explores the direct transfer of euro and Swiss franc wholesale central bank digital currencies (wCBDCs) between French and Swiss commercial banks on a single DLT platform operated by a third party. Tokenised asset and foreign exchange trades are settled safely and efficiently using payment versus payment (PvP) and delivery versus payment (DvP) mechanisms. The experiment is conducted in... Bank of International Settlements
report December 6, 2021 BIS Quarterly Review, December 2021 BIS Quarterly Review for December 2021 -... Bank of International Settlements
report December 2, 2021 An AI fair lending policy agenda for the federal financial regulators Algorithms, including artificial intelligence and machine learning models (AI/ML), increasingly dictate many core aspects of everyday life. Whether applying for a job or a loan, renting an apartment, or seeking insurance coverage, AI-powered statistical models decide who will have access to the foundational drivers of opportunity and equality.1 Michael Akinwumi Chief Tech Equity Officer - National Fair Housing Alliance Twitter datawumi John Merrill Chief Technology... By Brookings Institute, Financial Regulation Brookings Institute
report December 2, 2021 Suptech tools for prudential supervision and their use during the pandemic FSI Insights No 37, December 2021. This paper discusses financial authorities use of suptech tools for a range of activities, including data analytics for prudential supervision whose use cases have recently grown.... Bank of International Settlements
report December 1, 2021 Credit constrained firms and government subsidies: evidence from a European Union program by Eszter Balogh, Adám Banai, Tirupam Goel, Péter Lang, Martin Stancsics, Előd Takáts and Álmos TelegdyUsing rejected subsidy applicants as control group and bank queries to the credit-registry to identify firms that applied for but did not receive a loan, we show that subsidies generate a sizeable incremental impact on asset growth of constrained firms relative to unconstrained businesses.... Bank of International Settlements
report November 30, 2021 Stress testing – Executive Summary Stress tests are forward-looking exercises that aim to evaluate the impact of severe but plausible adverse scenarios on the resilience of financial firms.... Bank of International Settlements
report November 30, 2021 Insurance Core Principles – Executive Summary The Insurance Core Principles (ICPs) provide a globally accepted framework of principles, standards and guidance for the regulation and supervision of the insurance sector.... Bank of International Settlements
report November 29, 2021 China’s payments u-turn: Government over technology China has been at the forefront of a technological revolution in payments in both its private and public sectors. China’s tech firms succeeded in replacing the bank-based magnetic striped card world with a tech-based QR code system. Then the People’s Bank of China (PBOC) launched its central bank digital currency, followed by a series of government actions that appear... By Brookings Institute, International Financial Institutions Brookings Institute
report November 25, 2021 Losing traction? The real effects of monetary policy when interest rates are low by Rashad Ahmed, Claudio Borio, Piti Disyatat and Boris HofmannAre there limits to how far reductions in interest rates can boost aggregate demand? In particular, as interest rates fall to very low levels, does the effectiveness of monetary policy in boosting the economy wane? We provide evidence consistent with this hypothesis. Based on a panel of 18 advanced countries... Bank of International Settlements
report November 25, 2021 Navigating by r*: safe or hazardous? by Claudio BorioThe concept of the natural rate of interest, or r-star (r*), has risen to prominence in monetary policy following the Great Financial Crisis. No doubt a key reason for the concept's newfound prominence has been the further decline of real and nominal interest rates to new lows, which has further constrained monetary policy's room for manoeuvre. This... Bank of International Settlements
