Bank for International Settlements
Project Agorá prototype enhances cross-border payments with DLT
The Bank for International Settlements (BIS) and the Institute of International Finance (IIF) led Project Agorá, a public-private collaboration exploring tokenisation and programmability to enhance wholesale cross-border payments.
Focus
Breeden outlines UK vision for tokenised money and markets
Sarah Breeden, Deputy Governor for Financial Stability at the Bank of England, outlined the UK's vision for modernising money and markets through tokenisation.
Tokenisation improves cross-border payments, Agorá moves to real-value tests
Project Agorá, a public-private collaboration led by the Bank for International Settlements (BIS), has demonstrated how tokenisation can address long-standing inefficiencies in wholesale cross-border payments.
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Middle East conflict complicates RBA inflation outlook
Sarah Hunter, Assistant Governor (Economic) at the Reserve Bank of Australia, discussed the RBA's inflation framework and the outlook in the context of the ongoing Iran conflict.
UI generosity raises wages for all worker types
A Federal Reserve Bank of Cleveland working paper estimates the effects of unemployment insurance generosity on wages.
LCR regulation lowers bank funding costs, especially for long-term debt
A new Bank for International Settlements (BIS) working paper establishes a causal link between liquidity regulation and lower bank wholesale funding costs.
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Uncertainty measures improve recession forecasting
Researchers at the Federal Reserve Bank of St. Louis find that economic uncertainty measures significantly enhance real-time recession forecasting.
Study refines Phillips Curve with monopsonistic wage-setting
A new working paper from the Federal Reserve Bank of Cleveland introduces firms' monopsonistic wage-setting into a standard DSGE model.
Corporate bond market evolution: Electronic trading cuts capital cost
A Philadelphia Fed working paper analyzes the evolution of the U.S. corporate bond market, focusing on dealer balance sheet costs, electronic trading, and mutual fund growth.
EMEs adapt policy to shifting capital flows, global finance
Emerging market economies (EMEs) are navigating a rapidly evolving global financial landscape, marked by structural changes in capital flow dynamics and the growing role of non-bank financial institutions.
Restoy: Supervision crucial for strong bank governance
Fernando Restoy, Chair of the Financial Stability Institute, argued that robust supervision is more effective than rigid regulation in fostering strong bank governance.
Hernández de Cos: Supervisory effectiveness key after 2023 turmoil
BIS General Manager Pablo Hernández de Cos emphasized the critical need for effective banking supervision.