CIC Newsletter December 2021
Centre for International Central Bank Dialogue (CIC)

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Dear subscriber,

Due to technical problems with yesterday's dispatch, you will receive the newsletter again with attachments.

As 2021 draws to a close we, too, would like to take time to reflect, remember and venture a look at what the new year will bring.

We are very grateful for the large number of events and meetings with many central bank colleagues from all over the world that were held in the past year. The pandemic unfortunately forced us to switch to virtual events. Quite an agreeable routine has been established, but even the best routine will never be able to replace face-to-face interaction altogether. On top of this, though, COVID-19 has also shifted the focus onto new topics. For example, many central banks have seen more momentum in the area of digitalisation and have addressed the topic area of financial stability, probabilities of default and COVID-19. New expert panels were formed to discuss both topics – further details can be found in this newsletter.

We are also delighted to introduce some new faces amongst our ranks and to announce the courses for the first six months of 2022. Face-to-face events are also firmly in our sights for the second half of the year, compliant with any respective new developments in cross-border travel.

We hope that the year ends on a harmonious note for you and look forward to our continuing work together in 2022.

New faces at the Bundesbank abroad – in New York, Brussels, Singapore and São Paulo Changing jobs in the midst of a pandemic is challenging, especially if the new post is abroad. Jens Reich, Marie-Therese Gold, Michael Schardt and Alexander Lieber now work for the Bundesbank overseas.  ›

New online courses in first half of 2022 Confirmation of dates and topics of new online courses. ›

Financial stability, probabilities of default and COVID-19 – experts discuss unconven-tional methods. A lack of data is making it very difficult to estimate probabilities of default. Experts from 13 countries discussed different approaches, from the factoring in of certain variables to the development of algorithms. Only time will tell which of these will win out in practice. ›

Digital transformation at central banks – a review The coronavirus pandemic has forced central banks to make significant strides in their digitalisation efforts. 30 experts came together in an ad hoc expert panel to share their experiences with the digitalisation process. The Bundesbank offered insights into its new InnoWerk lab. ›