Podcasts about omfif

Instant payments systems are proliferating rapidly, and many central banks are working hard on interlinking them to enable quick, efficient cross-border payments. However, while IPS can provide extremely rapid, low-cost payments, they are not immune to fraud and erroneous payments. Given the speed of settlement, these problems can be even more difficult to resolve than they are for other payments systems.   Petia Niederländer, head of payments, risk monitoring and financial literacy at Oesterreichische Nationalbank, and Cian OMurhu, managing director and head of strategic transformation office at Swift, join Lewis McLellan, editor of OMFIF's Digital Monetary Institute, to discuss the technical infrastructure required to address these issues, how they are being implemented and what work still needs to be done.

Real-world asset tokenisation is accelerating, particularly within private distributed ledger technology platforms like R3's Corda. But Richard Brown, R3's chief technology officer, believes that the future of financial market infrastructure lies in the convergence of private networks like Corda and public networks like Ethereum and Solana. He joins Lewis McLellan, editor of OMFIF's Digital Monetary Institute, to discuss the opportunity that DLT presents for an overhaul of financial market infrastructure where the openness, liquidity and composability of public networks is combined with the regulatory confidence offered by private networks.

Paul Blustein, author of King Dollar: The Past and Future of the World's Dominant Currency, joins OMFIF to discuss his latest book and thoughts on why the dollar has been, continues to be and will remain the world's dominant currency.  He discusses why the euro and renminbi are not viable alternatives, whether there is a role for cryptocurrencies and stablecoins, if excess US use of financial sanctions could weaken the dollar's global role and what other landmines might lie ahead, including American dysfunction. 

Amelia Santos-Paulino, chief of investment research at the United Nations Trade and Development's investment and enterprise division, joins OMFIF to discuss some of the key priorities in sustainability for UNTAD in 2025. She considers the space for trade and investment flows in international climate discussions, particularly in the face of recent elections. She also discusses the critical growth sectors associated with sustainable trade and the opportunities and challenges faced by emerging markets in this area.

OMFIF's 2024 survey of central banks found that, while three-quarters of respondents are continuing their plans to issue central bank digital currencies, one-third have delayed their timelines. However, this was before the change in US government and the decision not to pursue CBDCs, instead prioritising digital assets. A follow-up OMFIF survey revealed that this development has encouraged some central banks outside the US to move in the opposite direction and accelerate their CBDC plans. Wolfram Seidemann, chief executive officer of Giesecke+Devrient Currency Technology, joins John Orchard, chairman of OMFIF's Digital Monetary Institute, to discuss why CBDCs should be issued sooner rather than later, how public sector payment rails can boost private sector innovation and what the future financial system might look like.

Max Castelli, head of strategy for sovereign institutions, and Phillip Salman, director of strategy for sovereign institutions at UBS Asset Management, join Yara Aziz, economist at OMFIF, to discuss how sovereign investors are adapting their strategies for 2025. They explore US President Trump's policies, the outlook for the dollar and the impact of artificial intelligence on the future of the Magnificent Seven stocks.

Discourse on the rewiring of payments and financial markets has been dominated in 2024 by talk of unified ledgers. The technical promises and challenges this architecture entails are gradually becoming better understood, but before the prototypes can become reality, the legal challenges must be fully explored. Natalie Lewis, partner at Travers Smith, joins Lewis McLellan, editor of OMFIF's Digital Monetary Institute, to discuss what the legal implications of unified ledgers will be.

Wendy Teleki, head of the Women Entrepreneurs Finance Initiative at the World Bank, joins Arunima Sharan, senior economist at OMFIF's Economic and Monetary Policy Institute, to discuss how the We Finance Code is tackling the $1.7tn financing gap facing women entrepreneurs. They explore We-Fi's work across 80 countries and examine how supporting women-led businesses creates positive social impact through improved education, employment and economic empowerment.

Yara Aziz, economist at OMFIF's Economic and Monetary Policy Institute, speaks with Ashleigh Lee, co-lead secretariat of the City of London Corporation's Transition Finance Market Review, to discuss the findings of the Transition Finance Market Review report. They explore the challenges and opportunities in scaling transition finance, strategies to prevent greenwashing and the global collaboration required to drive decarbonisation.

Tokenisation is frequently discussed as a means of improving the efficiency of existing financial markets, but the technology may offer the chance to create entirely new types of economic activity. The immense reach of distributed ledger technology-based tokens makes them a vector of greater inclusion to types of markets previously inaccessible to the general public. Additionally, the collaborative decision-making facilitated by tokenisation can encourage new types of co-operation between competitors to achieve shared aims. Dominik Talebi, managing director of Global Trade Finance, joins Lewis McLellan, editor of OMFIF's Digital Monetary Institute, to discuss the new economic paradigm that tokenisation is already beginning to offer.

Link naar het OMFIF rapport: https://bit.ly/3ZMGD2t In deze aflevering van GoudKoorts wordt de rol van goud als veilige haven besproken in een onzekere economische wereld. Er wordt ingegaan op de recente goudvondst in El Salvador en waarom dit weinig impact heeft op de markt. Het voorstel van Michael Saylor om goud te vervangen door Bitcoin wordt kritisch geanalyseerd, waarbij goud wordt gepresenteerd als een betrouwbare lange termijn waardehouder.  Tot slot bespreekt Bart Brands het belang van contant geld en de gevolgen van renteverlagingen door de ECB voor inflatie en koopkracht bescherming. ⚜️ Open nu een account bij GoldRepublic:

Discover insights from OMFIF's report on the looming bullion short squeeze, China's gold reserve growth, and the global implications of BRICS strategies. Learn how gold and silver markets are reacting to economic shifts, tariffs, and industrial demand.

Mark Sobel, US Chair, OMFIF, speaks with Max Castelli, head of strategy, sovereign institutions, UBS Asset Management, on the role of the US dollar and the various dedollarisation scenarios. They discuss significance of Saudi Arabia's decision to join the mBridge multi-currency CBDC platform and the potential implications for the incumbent USD-based financial system. 

Flavio Carpenzano, fixed income investment director at Capital Group, joins Burhan Khadbai, head of content for OMFIF's Sovereign Debt Institute, to look back at the performance of the investment grade credit market in 2024 and the outlook for next year.   They discuss how credit spreads are continuing to compress despite elevated levels of supply and to what extent this will evolve as markets move into a lower yield environment with the easing of monetary policy. The discussion also looks at the opportunities in IG credit and the risks for the sector from the volatility in rates driven by macroeconomic and geopolitical factors.

Bitcoin's price has surged following Donald Trump's victory in the US election. Trump's campaign was calculated to appeal to the crypto world, so the move comes as no surprise, but what are policy changes can we expect and do they warrant this kind of explosive price action? To discuss these questions, Lewis McLellan, editor of the Digital Monetary Institute at OMFIF, is joined by Brian Whitehurst, head of regulatory affairs at Lukka, Suzanne Morsfield, global head at Lukka, and Dorothy DeWitt, chief executive officer of Tölt Strategies and former director of market oversight at the US Commodity Futures Trading Commission.

A recent OMFIF-EY report on the future of public money outlines the need for governments to embrace new ideas, frameworks and technology. Joining Nikhil Sanghani, managing director, Economic and Monetary Policy Institute at OMFIF, is Mark MacDonald, global public finance management leader at EY, and Joachim Schwerin, principal economist, DG GROW at the European Commission. They discuss why governments should embrace new technology as well as how blockchain and artificial intelligence can improve public finance outcomes, the need for greater understanding and the importance of public-private partnerships.

Anne Simpson, global head of sustainability at Franklin Templeton, joins Emma McGarthy, head of OMFIF's Sustainable Policy Institute, to assess the role of public pension and sovereign funds in transition finance. They also discuss the work of the Transition Finance Working Group, which has spoken with 12 of the biggest funds on their transition strategies and challenges. The working group conversations have been distilled into a research report by OMFIF, which will be launched at a seminar during COP29.   To join OMFIF, Franklin Templeton and global public funds at COP29, register here.   To read more about OMFIF's Transition Finance insight, click here.

2024 has seen exciting developments in the wholesale central bank digital currency space. Abbas Albasha, senior strategy consultant for CBDC at Giesecke+Devrient, joins Lewis McLellan, OMFIF's Digital Monetary Institute editor, to discuss the value that wholesale CBDC can offer economies, how they can integrate with other forms of money including retail CBDC and some of the challenges those looking to implement them are facing.

Many in capital markets have long been expecting an overhaul in how their business functions from the disruptive effects of digital assets technology. So far, these effects have not been substantial outside isolated pockets where implementation has leaped ahead. But many believe we are approaching an inflection point and that dramatic changes are about to arrive for financial market infrastructure. Kate Karimson, R3's chief commercial officer, joins Lewis McLellan, OMFIF's Digital Monetary Institute editor, to discuss what these changes will look like.

In early September 2024, the European Commission published the long-awaited ‘The future of European competitiveness: Report by Mario Draghi', which examines in detail the challenges faced by European industry and companies in the single market. OMFIF lead economist Taylor Pearce hosts Bill Papadakis, macro strategist at Lombard Odier, to discuss the structural and macro trends the EU economy is contending with and how these are impacting key areas of the economy and financial system.

At present, in most jurisdictions, only commercial banks are able to provide final settlement of payments as the only institutions with access to central bank reserves. However, new business models have emerged that unbundle the business of creating money and payment services from the provision of credit. Should payments be unbundled from banking? Circle's chief economist Gordon Liao and OMFIF's Digital Monetary Institute editor Lewis McLellan discuss the regulatory treatment of stablecoins and consider which institutions can access central bank payment systems and under what conditions.

One of the major structural factors impacting government financing is the massive scale of public money needed to ensure the transition to a carbon neutral economy. How are trends in government debt issuance evolving as they relate to sustainability? Alex Caridia, head of public sector markets at RBC and Heather Taylor, partner, climate change and sustainability at EY, join OMFIF lead economist Taylor Pearce to discuss. The conversation is a part of OMFIF's workstream on the Future of public money project. 

Around a third of the world lack reliable internet access and among the two thirds that have access, disruptions and restrictions are far from unknown. Ensuring that digital payments solutions are reliable and have the broadest reach possible requires that they can function offline. Though the need is well understood, the challenges of meeting it remain. Lars Hupel, G+D's chief evangelist, joins OMFIF's Digital Monetary Institute editor Lewis McLellan to discuss how offline capabilities enhance the effectiveness and convenience of online payment methods and share G+D's experience in this field.

Christopher Smart, former senior US Treasury and National Security Council official and managing partner of Arbroath Group, joins OMFIF's US chair Mark Sobel, to discuss the economic plans of presidential candidates, Kamala Harris and Donald Trump. They compare the candidates' differences on fiscal, monetary, exchange rate, trade and immigration policies. 

Omar Massarweh, vice president of public policy for the Middle East and North Africa at Mastercard, joins Arunima Sharan, senior economist at OMFIF to discuss key findings from the ‘Path to Morocco' project completed by OMFIF in partnership with Mastercard, aimed at fostering public-private dialogue and ensuring that financial inclusion remains at the core of future economies. Their conversation touches on the alignment of current financial systems with the World Economic Forum's shared principles for an inclusive financial system and the areas with the greatest potential for improvement. They also explore how emerging technologies can enhance financial inclusion, the role of financial institutions in catalysing innovation and successful examples of public-private collaborations in the region.

Jeremy Cunningham, investment director at Capital Group, speaks with Arunima Sharan, senior economist at OMFIF to discuss the latest trends in emerging markets debt. They explore the re-emergence of these markets in investors' minds and how perceptions of EM debt have shifted in recent years. The conversation covers current and future opportunities in this local and hard currency EM bonds, factors contributing to higher return potential, and associated risks. OMFIF's Q3 Bulletin on emerging markets can be found here

Vlad Rashkovan, Ukraine's representative to the International Monetary Fund, joins Mark Sobel, OMFIF's US chair, to provide an update on Ukraine's economic and financial situation. They assess the country's progress in implementing economic reforms despite the war and the hardships facing Ukraine's people. They explore how Ukraine is using both domestic resources and international financing to maintain stability, and Rashkovan gives his views on the disposition of blocked Russian central bank and oligarch assets, the fight against corruption and reconstruction. 

Max Castelli, head of strategy, sovereign institutions at UBS asset management, and Philipp Salman, also on the team at UBS, speak with OMFIF Lead Economist Taylor Pearce to discuss the latest observable trends in central bank reserve management. They discuss investment strategies, currency and asset allocations and the factors influencing reserve managers' investment decisions in the current macroenvironment, which UBS have been tracking for 30 years now. OMFIF's 2024 GPI report on central bank reserve management is available here.    The views expressed are as of July 2024 and are those of the author and not necessarily the views of UBS Asset Management. This podcast is a marketing communication and the information herein should not be considered investment advice or a recommendation to purchase or sell securities or any particular strategy or fund. Information and opinions have been provided in good faith and are subject to change without notice.

Wolfram Seidemann, chief executive officer of Giesecke+Devrient Currency Technology, joins John Orchard, chief executive officer of OMFIF, for a discussion on why public and private sectors need to come together to pool their strengths to build a thriving CBDC ecosystem. They will discuss the advantages for both stakeholders and users, and underscore the importance of offline functionality as a key area for collaboration. Access deeper insights by also downloading OMFIF's report in partnership with G+D: Unlocking the potential of a CBDC ecosystem  

Geoffrey Yu, senior Europe, Middle East and Africa market strategist at BNY Mellon, joins Taylor Pearce, lead economist of OMFIF's Economic and Monetary Policy Institute, to discuss the outcomes of the European Parliament election and the subsequent market implications. They discuss the effects of a snap election in France, the potential impact of the new European Parliament on trade policy and other major market topics.

With its recent 'Finternet' paper, the Bank for International Settlements has planted its flag firmly in shared ledgers as the future rails of financial infrastructure. The idea of a single platform – a network of ledgers – providing the means for the seamless and instant settlement of many financial and non-financial assets versus tokenised cash is certainly attractive in its promise. Delivering such a complex ecosystem entails a great deal of complexity, both technically and from the perspective of governance. However, incremental steps in that direction are already delivering business value. To explain how tokenised settlement platforms are improving financial markets, Lewis McLellan, editor of OMFIF's Digital Monetary Institute, is joined by Basak Toprak, EMEA head of coin systems at Onyx by JP Morgan, and Atul Bhuchar, head of product at Partior.

Ulf Erlandsson, founder and chief executive officer of the Anthropocene Fixed Income Institute, joins Edward Maling, economist at OMFIF's Economic and Monetary Policy Institute, to discuss the importance of fixed income markets for the climate transition. Sharing insights from AFII's Sustainability-Linked Bond Handbook, Erlandsson explores the latest innovations in sustainable financial products, the nuances of SLBs and the potential for their continued development.

Robert Stheeman, the departing chief executive of the UK Debt Management Office, joins Burhan Khadbai, head of content at OMFIF's Sovereign Debt Institute, to recall the highs and lows of more than two decades managing the gilt market. Stheeman discusses dealing with crises including the infamous 2022 mini budget, how the gilt market has evolved, the importance of maintaining the primary dealer system and more.

Regina Curry, chief diversity officer at Franklin Templeton, joins Emma McGarthy, head of the Sustainable Policy Institute at OMFIF, to discuss the importance of gender balance in financial institutions. They examine the necessary benchmarks, key indicators and information required to retain and encourage women in leadership positions as well as how to foster inclusive cultures and overcome barriers. 

Valentina Ion, public finance and public transportation lead at Microsoft, joins OMFIF to discuss the company's commitment to ethical and responsible artificial intelligence in the public sector. She explores the key risks posed by advanced AI systems, outlines Microsoft's core principles for ethical development and explains the importance of public-private partnerships in addressing AI safety and governance challenges. Ion also offers suggestions for how individuals can stay informed about AI's evolving landscape.

In the first of three podcasts as part of OMFIF's project with EY on the future of public money, OMFIF's Nikhil Sanghani is joined by Dr Carolyn Bordeaux, senior visiting scholar at the University of Georgia and former member of the US House of Representatives, and Mark Macdonald, global public finance management leader at EY. They discuss the growing fiscal constraints facing governments, the need for effective institutional structures and the importance of having better metrics to inform public spending decisions.

Pedro Duerte Neves, Adviser for the Board of Directors and former Vice-Governor of Banco de Portugal, joins Taylor Pearce, senior economist, Economic and Monetary Policy Institute, OMFIF, to discuss the global financial stability outlook. Their discussion references the IMF's 2024 Global Financial Stability Report, and examines vulnerabilities and risks to the global financial system, including stretched asset valuations, burgeoning public and private debt and the growing probability of cyberattacks. The views and opinions expressed are those of the interviewee and do not necessarily reflect those of Banco de Portugal or the Eurosystem.

Björn Storim, chief executive officer, and Ben Pott, managing director and international head of public policy and government affairs at BNY Mellon, join Clive Horwood, managing editor and deputy chief executive officer at OMFIF. They assess the progress towards capital markets union in Europe and the need to accelerate financial market integration. They discuss the current challenges, approaches to harmonising market infrastructure and regulations and the importance of securitisation to European competitiveness.

Max Castelli, head of strategy, sovereign institutions at UBS Asset Management, joins Taylor Pearce, senior economist at OMFIF, to discuss the role of the dollar as a global reserve currency in a multipolar world. They discuss factors such as China's rise in power, sanctions risk and the development of alternative payments systems and how these could challenge dollar dominance. They also discussed the recent surge in gold and Bitcoin prices in the context of currency diversification for institutional investors.   Whether or not the introduction of CBDCs will impact central banks' reserve management strategies will be explored in OMFIF's forthcoming Global Public Investor 2024 report, along with other asset and currency allocation trends. 

Taylor Pearce, senior economist, Economic Monetary Institute at OMFIF, hosts Elliot Hentov, head of macro policy research at State Street Global Advisors, to discuss the interplay between geopolitics and financial markets. Hentov outlines several risk factors that could impact markets – including geopolitical shocks, risk premium repricing and the upcoming US election – and what investors are doing as a result. 

Saleha Mohsin, senior Washington correspondent for Bloomberg News joined Mark Sobel, US chair at OMFIF, to discuss her recently published book, Paper Soldiers: How the Weaponization of the Dollar Changed the World Order. She discusses how secretaries of the Treasury of past decades managed communications about the dollar and how the department developed and deployed financial sanctions based on the dollar's globally dominant role.

Cian O'Murchu, head of strategic transformation, Mireia Guisado-Parra, pre-validation product owner at Swift and Julien Lasalle, head of cashless payment monitoring at Banque de France, join Lewis McLellan, editor of OMFIF's Digital Monetary Institute. Together, they discuss the implementation of pre-validation – a new tool developed to reduce the number of errors in payments and restore people's trust in their ability to safely pay for goods and services online.

Stefan Nanu, head of public debt management and state treasury at the ministry of finance of Romania, joins Burhan Khadbai, head of content at OMFIF's Sovereign Debt Institute, to discuss Romania's long-awaited inaugural green bond, which was the most successful ever euro-denominated bond in this format by an emerging market issuer. As well as the record-breaking deal itself, they also cover Romania's ambitious transition plan and the key features of its green bond framework

Monique Newiak, deputy unit chief, inclusion and gender, and Mariarosaria Communale, economist at the International Monetary Fund, join Arunima Sharan, senior research analyst at OMFIF's Economic and Monetary Policy Institute, to discuss the state of gender balance in financial institutions. They examine the IMF's gender strategy, the macro-criticality of gender equality and findings from their recent publication, 'Who are Central Banks? Gender, Human Resources, and Central Banking'.  The views expressed by the speakers in this podcast do not necessarily represent the views of the IMF, its executive board or management.

Max Castelli, head of strategy, sovereign institutions, and Philipp Salman, director of strategy and advice, global sovereign markets, UBS Asset Management, join Taylor Pearce, senior economist at OMFIF, to discuss what's in store for global public investors in 2024. The discussion identifies opportunities and risks for reserve managers and sovereign wealth funds amid evolving market dynamics, including falling inflation, headwinds to China's economy and a resilient US economy albeit looming political risks.   You can find the full transcript here.

Environmental, social and governance data is integral to scaling up sustainable finance and investment. With increasing regulation and demand for information, it's also crucial for organisations and businesses. Sherry Madera, chief executive officer of CDP, joins John Orchard, OMFIF chief executive officer, to discuss how data can improve the quality of a company, how datasets are evolving to support the mobilisation of institutional investor demand in ESG assets and the importance of data to leadership.   To find out more, Madera's book Navigating Sustainability Data: How Organizations can use ESG Data to Secure Their Future is now available to buy.

Siegfried Ruhl, hors classe adviser to the director-general for budget at the European Commission, joins Burhan Khadbai, head of content at OMFIF's Sovereign Debt Institute, to discuss upcoming priorities for the European Union as it continues its rapid journey towards sovereign status in the capital markets. They discuss the EU's recent launch of quoting commitments for its primary dealers and the EU Issuance Service, as well as plans to launch a repo facility and futures market. The discussion also touches on the evolution of the EU's investor base and its status as a safe asset and global benchmark.

To transition to a sustainable economy, new investment models are needed. Financial flows into emerging economies must be also scaled. Blended finance and public-private collaboration will be integral in supporting increased investment and mitigating risk perception. David Carlin, head of risk, United Nations Environment Programme Finance Initiative, joins OMFIF's Emma McGarthy, head, Sustainable Policy Institute, to discuss transition finance, takeaways from COP28 and his expectations for the year ahead.

Vera Songwe, a non-resident senior fellow in the Africa Growth Initiative at the Brookings Institution and co-chair of the Independent High-Level Expert Group on Climate Finance, joins Katerina Atkins, programme coordinator at OMFIF's Sustainable Policy Institute, to explore the key outcomes and challenges from the COP28 climate summit. They discuss the agreement to transition away from fossil fuels, the conclusion of the first global stocktake, the loss and damage fund, as well as the financial needs and innovative financing mechanisms to address climate change.

Max Castelli, head of strategy, sovereign institutions, and Philipp Salman, director of strategy and advice, global sovereign markets, UBS Asset Management, join Taylor Pearce, senior economist at OMFIF, to discuss macroeconomic challenges marked by exogenous shocks. They explore the short- and long-term outlook for inflation and the potential for a 'higher-for-longer' interest rate environment. The discussion touches on the equilibrium real interest rate, global factors influencing government debt dynamics, the potential productivity and growth implications of artificial intelligence and the evolving landscape for institutional investors.