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In the Blind Spot (Moving to a ‘Pawnbroker for all Seasons’ model in central banking)

    COMMENTARY SNEAK PEEK — Regulators channel Mervyn King’s “Pawnbroker For All Seasons” idea as they call for the introduction of an extensive pre-positioning framework. — Dario argues Trump’s America First policy is good for Europe as it will boost competitiveness and investment in its own security.   — Could the NBP’s missing 6 […]

Spotlight on the pre-positioning revolution coming to finance

TLDR: Cbankers’ enthusiastic embrace of prepositioning points to growing acceptance of former BoE governor Lord Mervyn King’s ‘Pawnbroker For All Seasons” model. But some worry it might have grave consequences for free markets. There’s a quiet revolution happening at the heart of central banking, but you wouldn’t necessarily know it. On the surface, the inconspicuous […]

Pre-positioning: the quiet revolution rocking central banking (POLITICO)

By Izabella Kaminska · Jan 19, 2024 There’s a quiet revolution happening at the heart of central banking, but you wouldn’t necessarily know it. On the surface, the inconspicuous language around the shift makes it sound like any other boring back-office central bank protocol. For now, even financial markets haven’t picked up on its significance. […]