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This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper focuses on the Board oversight of central banks—a central feature of sound governance. This form of oversight is the decision-making responsibility through which an internal body of the central bank—the Oversight Board—ensures that the central bank is well-managed. First, the paper will contextualize the role of Board oversight into the broader legal structure for central bank governance by considering this form of oversight as one of the core decision-making responsibilities of central banks. Secondly, the paper will focus on a number of important legal design issues for Board Oversight, by contrasting the current practices of the IMF membership’s 174 central banks with staff’s advisory practice developed over the past 50 years.

United Kingdom --- Banks and Banking --- Public Finance --- Central Banks and Their Policies --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Taxation, Subsidies, and Revenue: General --- Financial Institutions and Services: Government Policy and Regulation --- Banking --- Public finance & taxation --- Financial services law & regulation --- Central bank legislation --- Legal support in revenue administration --- Central bank governance --- Bank supervision --- Central banks --- Revenue administration --- Central bank organization --- Central bank mandate --- Banks and banking --- Revenue --- State supervision

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With growth slowing across much of the Latin America as a result of the end of the commodity supercycle and economic rebalancing in China, as well as fragmentation of the international banking system, policies to stimulate growth are needed. This book examines the financial landscapes of seven Latin American economies—Brazil, Chile, Colombia, Mexico, Panama, Peru, and Uruguay—and makes a case for them to pursue regional financial integration. Chapters set out the benefits to the region of financial integration, the barriers to cross-border activity in banks, insurance companies, pension funds, and capital markets, as well as recommendations to address these barriers. Finally, the volume makes the case that regional integration now could be a step toward global integration in the short term.

E-books --- Latin America --- Economic integration. --- Banks and Banking --- Finance: General --- Insurance --- Public Finance --- Industries: Financial Services --- Exports and Imports --- General Financial Markets: General (includes Measurement and Data) --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Social Security and Public Pensions --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Insurance Companies --- Actuarial Studies --- General Financial Markets: Government Policy and Regulation --- Finance --- Pensions --- Banking --- Insurance & actuarial studies --- International economics --- Insurance companies --- Financial integration --- Pension spending --- Financial institutions --- Financial markets --- Expenditure --- Regional integration --- Economic integration --- International finance --- Banks and banking --- Financial services industry --- Brazil

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Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Banks and Banking --- Financial Risk Management --- Industries: Financial Services --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Institutions and Services: Government Policy and Regulation --- Financing Policy --- Financial Risk and Risk Management --- Capital and Ownership Structure --- Value of Firms --- Goodwill --- Bankruptcy --- Liquidation --- Debt --- Debt Management --- Sovereign Debt --- Financial Institutions and Services: General --- Economic & financial crises & disasters --- Banking --- Finance --- Bank resolution framework --- Creditor bail-in --- Debt restructuring --- Distressed institutions --- Financial crises --- Asset and liability management --- Financial institutions --- Systemically important financial institutions --- Crisis management --- Banks and banking --- Debts, External --- Financial services industry --- United States

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Central banks are increasingly pondering whether to issue their own digital currencies to the general public, so-called retail central bank digital currency (CBDC). The majority of IMF member countries are actively evaluating CBDCs, with only a few having issued CBDCs or undertaken extensive pilots or tests. This paper shines the spotlight on the handful of countries at the frontier in the hope of identifying and sharing insights, lessons, and open questions for the benefit of the many countries following in their footsteps. Clearly, what can be gleaned from these experiences does not necessarily apply elsewhere. The sample of countries remains small and country circumstances differ widely. However, the insights in this paper may inspire further investigation and allow countries to gain time by building on the experience of others. Importantly, the purpose of this paper is not to evaluate the courses taken by different jurisdictions, but to study and discuss their key experiences and lessons. The paper studies six advanced CBDC projects, drawing on collaboration and exchanges with the respective central banks to get insights beyond what has previously been published. Unless a specific published source is cited, all information stems from interviews and workshops with members of CBDC project teams in each jurisdiction.

Banks and banking, Central. --- Banks and Banking --- Banks and banking, Central --- Blockchain and DLT --- Blockchains --- Central Bank digital currencies --- Central Banks and Their Policies --- Central banks --- Computer applications in industry & technology --- Currencies --- Currency crises --- Databases --- Distributed ledgers --- Economic & financial crises & disasters --- Economic sectors --- Economics of specific sectors --- Economics --- Economics: General --- Financial crises --- Financial services industry --- Foreign Exchange --- General issues --- Government and the Monetary System --- Industries: Financial Services --- Informal Economy --- Informal sector --- Innovation --- Intellectual Property Rights: General --- Macroeconomics --- Monetary economics --- Monetary policy --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Monetary Policy, Central Banking, and the Supply of Money and Credit: Other --- Monetary Systems --- Money and Monetary Policy --- Money --- Payment Systems --- Regimes --- Research and Development --- Standards --- Technological Change --- Technological innovations --- Technology --- Underground Econom --- Bahamas, The