CBDC is a public good, not a private business case

Wolfram Seidemann, chief executive officer of G+D Currency Technology, joins David Marsh, chairman of OMFIF, to discuss how central bank digital currency has gained traction among public and private sector institutions and if Covid-19 is a motivating factor for central banks to adopt digital currency. They also discuss at the state of blockchain technology, privacy concerns and the benefits CBDC may offer to society during the pandemic.

Music: https://www.bensound.com/royalty-free-music

In Conversation with Bill Dudley: US economic policy and outlook

Recent events are having far-reaching consequences for the US economy, affecting all parts of society and the outlook of policy-makers and market participants. William Dudley, former president and CEO of the Federal Reserve Bank of New York, joins Mark Sobel for a conversation about the US economy and his outlook on the years ahead. Taimur Baig, chief economist at DBS Bank, provides a first response and reflections.

To listen further, click here. 

Music: https://www.bensound.com/royalty-free-music

Central bank gold reserves before and after the Covid-19 shock

Kurtulus Taskale Diamondopoulos, Director, Central Banks and Public Policy at the World Gold Council, joins Pierre Ortlieb, economist at OMFIF, to discuss WGC’s newest annual central bank gold survey in the broader context of gold reserves management amid the coronavirus pandemic. They discuss the state of play in global central bank gold holdings, valuation and accounting issues, the mechanics of gold swaps and deposits, and the outlook for the yellow metal.

• 2020 Central Bank Gold Reserve Survey
• Resources on central banks and gold
• Gold valuation framework

Music: https://www.bensound.com/royalty-free-music

Strategic cost transformation in wealth and asset management

Welcome to part four of our special series with EY on the economic response measures to Covid-19 crisis. In this edition, Marcin Stepan and Mike Lee, EY’s global wealth and asset management leader, discuss the pandemic’s effect on asset management. They focus on the financial fallout from the crisis as companies face shrinking revenues and operating margins. They examine the challenges and opportunities in strategically approaching cost reduction and control, while ensuring scalability and elasticity to meet future growth needs.

Music: https://www.bensound.com/royalty-free-music

Week in review: Flattening the debt curve, IMF’s epic battle, and more

OMFIF’s Julie Levy-Abegnoli looks back over some of the most recent articles published on the OMFIF website, including those on flattening the debt curve, transatlantic monetary theory, and the International Monetary Fund's epic virus battle.

Articles and other items referenced:

1. Flattening the debt curve: https://www.omfif.org/2020/06/flattening-the-debt-curve/
2. US unprepared for money supply boom: https://www.omfif.org/2020/06/us-unprepared-for-money-supply-boom/
3. IMF's epic virus challenge: https://www.omfif.org/2020/06/imfs-epic-virus-challenge/
4. Cambodia edges towards digital payments: https://www.omfif.org/2020/06/cambodia-edges-towards-digital-payments/
5. In conversation with William Dudley: https://www.omfif.org/events/in-conversation-with-william-dudley-us-economic-policy-and-outlook/
6. Perspectives on the economy in the wake of Covid-19: https://www.omfif.org/events/perspectives-on-the-economy-in-the-wake-of-covid-19/
7. Practical steps towards a capital markets union: https://www.omfif.org/events/practical-steps-towards-a-capital-markets-union/ 

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

The evolving role of Swift in global payment systems

Swift plays a vital role moving money around, acting as a lifeline for trade and economic activity. Michael Moon, Swift's managing director of payments and trade, joins Bhavin Patel, senior economist and head of fintech research at OMFIF, to discuss how Swift’s role in global payment systems is changing as payments become increasingly digitised and amid greater innovation in the financial infrastructure. Further topics include the introduction of Swift gpi and the ISO 20022 standards, and correspondent banking during a time of derisking.

Music: https://www.bensound.com/royalty-free-music

Week in review: Diversity in central banking, fiscal wrangling, and more

OMFIF’s Julie Levy-Abegnoli looks back over some of the most recent articles published on the OMFIF website, including those on diversity in central banking, US fiscal wrangling, and ECB bond purchases.

Articles and other items referenced:

1. US fiscal wrangling in full force: https://www.omfif.org/2020/06/us-fiscal-wrangling-in-full-force/
2. Central banks' diversity problem: https://www.omfif.org/2020/06/central-banks-diversity-problem/
3. Fresh German legal battle over ECB easing: https://www.omfif.org/2020/06/fresh-german-legal-battle-over-ecb-easing/
4. Six centuries of central bank independence (synopsis): https://www.omfif.org/2020/06/six-centuries-of-central-bank-independence/
5. Central banking before 1800 (book review): https://www.omfif.org/2020/06/central-banking-before-1800/
6. Digital Monetary Institute Journal, June edition: https://www.omfif.org/omfif-digital-monetary-institute-journal-upgrading-the-network/
7. The bumpy road to recovery: https://www.omfif.org/events/the-bumpy-road-to-recovery/
8. Cybersecurity post-pandemic: https://www.omfif.org/events/cybersecurity-post-pandemic/
9. Financial services in the new age of work: https://www.omfif.org/events/financial-services-in-the-new-age-of-work/
10. The US in the global order: https://www.omfif.org/events/the-us-in-the-global-order-the-role-of-the-dollar-and-tensions-with-china/
11. Covid-19 responses and recovery - Perspectives from Germany: https://www.omfif.org/events/covid-19-response-and-recovery-perspective-from-germany/ 

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

Fed talk: The US’s ‘long road’ to recovery

Jerome Powell, chairman of the US Federal Reserve, laid out the central bank’s stance on inflation, job growth and plans to support the economy in mid-June. Tim Duy, professor of practice and senior director of the Oregon Economic Forum at the University of Oregon, joins Mark Sobel, US chairman of OMFIF, to discuss the Federal Reserve’s policies for job growth and the announcement that interest rates will remain near zero till 2022.

Music: https://www.bensound.com/royalty-free-music

Week in review: Negative interest rates, US corporations’ bond market clout, and the end of the Germany-ECB conflict

OMFIF’s Julie Levy-Abegnoli looks back over some of the most recent articles published on the OMFIF website, including those on the confusing debate on negative interest rates, US corporations' bond purchases, and the Germany-ECB dispute.

Articles and other items referenced:

1. Negative interest rate debate needs clarity: https://www.omfif.org/2020/06/negative-interest-rate-debate-needs-clarity/
2. US corporations' bond market clout: https://www.omfif.org/2020/06/us-corporations-bond-market-clout/
3. Solution nears on ECB bond buying: https://www.omfif.org/2020/06/solution-nears-on-ecb-bond-buying/
4. The future of the workplace – Resilience and adaptation to technological disruption: https://www.omfif.org/podcast/the-future-of-the-workplace-resilience-and-adaptation-to-technological-disruption/
5. The OMFIF-KPMG series – Future of infrastructure as an asset class: https://www.omfif.org/podcast/the-omfif-kpmg-series-future-of-infrastructure-as-an-asset-class/
6. Accelerating ESG investment through sustainable data: https://www.omfif.org/events/the-future-of-esg-investment-accelerating-the-agenda-through-sustainable-data/
7. Demystifying government deficits and central bank financing: https://www.omfif.org/events/demystifying-government-deficits-and-central-bank-financing/
8. Sustainable investment in the post-pandemic economy: https://www.omfif.org/events/sustainable-investment-in-the-post-pandemic-economy/

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

The OMFIF/KPMG series: Future of infrastructure as an asset class

In the first edition of the OMFIF-KPMG Asia Pacific podcast series, Jang Ping Thia, principal economist at the Asian Infrastructure Investment Bank, joins KPMG's Sharad Somani and OMFIF's Adam Cotter to discuss the future of infrastructure as an asset class. What can be done to ensure funding for infrastructure projects? Is the pandemic accelerating the adoption of technology to improve project delivery? Are governments implementing reforms quickly enough to support sustainable infrastructure projects? Does the Covid-19 crisis offer a golden opportunity for policy-makers to build a clear pipeline of greenfield and brownfield projects in emerging markets?

Music: https://www.bensound.com/royalty-free-music