Financial Stability
PBoC has lent banks $44 billion for ‘green projects’
Facility helps Chinese and foreign lenders to fund carbon emissions reduction, says governor
BoE proposes minimum resilience for LDI funds
Funds at centre of UK’s bond market 2022 crisis must withstand bigger “yield shock”, BoE says
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Credit Suisse collapse triggered eurozone contagion – ECB’s Enria
Enria says some kinds of contagion were more dangerous than others as Swiss G-Sib collapsed
SVB collapse threatened banks across the US – Fed’s Barr
“Full extent” of bank’s vulnerability was not clear to supervisors until the run, vice-chair admits
UK banks insulated from wider troubles, BoE says
Financial policy committee “closely monitoring” events but says capital and liquidity are sufficient
Bailey says investors ‘testing’ banks for weakness
UK banks not facing same issues as SVB US or Credit Suisse, BoE governor says
PBoC swap lines now key international bailout tool
Researchers say PBoC extended support worth billions of dollars to Belt and Road countries
Fed details Custodia rejection decision
Decision says Wyoming firm has deficient management and risky business model
Banknotes: January to March 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Basel Committee chair reflects on CCyB effectiveness
Pablo Hernández de Cos suggests review of counter-cyclical buffer as uses of tool diverge
Georgieva warns of increased risks to financial stability
Action by policy-makers has only eased stress “to some extent”, IMF chief says
MAS set to build digital platform to tackle financial crimes
Central bank will develop an information-sharing platform with six leading banks
Eurozone banks not directly hit by US stress, says Enria
Head of ECB supervision says mid-sized US banks enjoy more lenient stress tests
Yellen flags ‘contagious bank run’ risk
US Treasury secretary pledges small banks will gain 100% deposit insurance if needed
ECB hails launch of new wholesale settlement system
Eurosystem’s new RTGS system and liquidity management tool went live on March 20
How Finma milked Credit Suisse’s CoCos to close UBS deal
An unusual clause in Swiss AT1 bonds allowed them to be written off, but could others ever follow suit?
ECB questions Credit Suisse bond bail-in
Swiss government, SNB and Finma organise rescue of troubled lender that pays out to equity-holders
Central banks step up dollar liquidity support
But initial auction results show little evidence of pressure on dollar funding
Apac central banks reassure amid Credit Suisse woes
Central banks in Australia, Singapore and Hong Kong say banking systems remain stable
US banks tap $11.8 billion from new Fed facility
Fed set up Bank Term Funding Program in wake of Silicon Valley Bank’s collapse
PBoC to cut reserve requirement ratio
Top officials have previously called for use of the policy tool to boost economy
China to set up new party-led financial supervisors
New committees to be established by end of 2023 as part of wider supervisory change
What are the systemic lessons of SVB?
Philip Turner says the collapse of SVB reveals deeper issues than many have realised