Clinical supervision
Sam Woods reflects on the nature of banking supervision. Taking stock of how supervision has evolved in the UK and internationally, he considers what the role of a supervisor is and how it might evolve in future
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Finance
Stablecoins and the future of money
Stablecoins are not an efficient way to strengthen the international role of the euro, says Christine Lagarde. The best solution to do so remains: deeper capital market integration through the savings and investment union and a stronger safe asset base
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Climate, nature and monetary policy
Global efforts to tackle the climate and nature crises have not progressed as hoped, says Christine Lagarde. This sharpens the case for deeper analysis from the research and central banking communities to better understand the risks to price and financial stability
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Updating the Fed for the modern world
Christopher Waller emphasises the need for the Federal Reserve to modernise its operations to adapt to a changing world. This includes reducing costs, effectively managing risk, and delivering value to the American taxpayer
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US asset management dominance threatens Europe
The global asset management industry is simultaneously growing and consolidating. Dirk Schoenmaker argues that US firms’ rise in EU asset management may weaken sustainable finance, making tougher stewardship, ESMA supervision and autonomy urgent
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In need of further thinking
Andrew Bailey argues that modern central bank independence is well-defined for monetary policy but incomplete, and highlights the challenges for a central bank’s financial stability mandate
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Hungary’s new beginning
The long-awaited change of government gives Hungary an opportunity to tackle tough economic and social challenges while re-aligning with Europe. Zsolt Darvas considers what tight fiscal constraints will mean for Hungary’s priorities
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Can US banks have it all?
Uuriintuya Batsaikhan discusses the outline plan to reduce stigma associated with short-term borrowing from the Federal Reserve, and argues that the reform package may be doing banks too many favours, and risks amplifying liquidity risk, potentially threatening more bank failures
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Preparing Europe for digital finance
A new phase of digital finance is taking shape, says Piero Cipollone. The ECB aims to achieve an integrated European market for digital assets, with safe central bank money as the backbone of the system
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Nature in decline, economy on the line
Nature is the economy’s life support system, and it is under strain. Frank Elderson calls for stronger global cooperation to tackle nature related financial risks
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