Why the digital euro might be dead on arrival
Cyril Monnet and Dirk Niepelt argue that in protecting the current banking model the ECB could be sacrificing the digital euro on the altar of banking as we know it
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Regulation
Responsive and responsible bank regulation and supervision
The regulatory framework is evolving. Michelle Bowman urges regulators to focus on novel banking activities, including banking as a service and digital assets, to prevent a regulatory void
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What SVB and Credit Suisse tell us about financial regulations
SVB and Credit Suisse have exposed regulation failures. Jon Danielsson and Charles Goodhart argue the best way forward would be to focus on shock absorption and moral hazard, not the current approach of buffers and risk measurements
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Lessons from recent stress in the financial system
Aymo Brunetti argues that big banks must become globally resolvable, or significantly ‘smaller’
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The shape of things to come
Jon Cunliffe looks at four areas where the tokenisation of money is now being explored, examining the BoE’s work to ensure these new forms of money are robust and uniform
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Are cryptoassets a threat to financial stability?
Cryptoassets and markets are a relatively recent innovation in finance. Claudia Buch says there is a need to monitor and take preventive action against risks in these markets
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Climate regulation and financial risk
Berg et al argue that it would be welfare-enhancing if policy changes were to follow a predictable longer-term path, and suggest a role for financial regulation in the transition
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Central Bank independence and the mandate—evolving views
Jerome Powell makes a strong case for limited independence within a democratic framework, warning against a Central Bank widening its remit and scope too far
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The innovation imperative: modernizing traditional banking
Michelle Bowman discusses innovation in the US financial system, the emerging trends that are shaping the industry, and the influence of regulatory approach on this evolution
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Has the DMA got it wrong on app stores?
Bertin Martens argues that the app-store obligations in the EU’s Digital Markets Act are unlikely to weaken the market power of Apple and Google
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