Financial Stability
Some CCPs could struggle to cover major losses – FSB
Cyber attack could pose serious problems for systemically important CCPs, report finds
IMF approves $1.4 billion Ukraine aid and BIS suspends Russia
Georgieva praises Ukrainian authorities’ emergency measures after invasion
PBoC resumes profit transfer to government
Transfer of $158 billion follows two-year suspension during Covid-19 pandemic
Bank of Russia caps FX withdrawals and EU sanctions Belarus
Russian depositors can withdraw unlimited rubles but only up to $10,000 in foreign currency
Reciprocity can curb macro-prudential ‘leakages’ – BIS paper
But gains can be small, which may explain limited use of reciprocity to date, authors say
Ukraine allows unlimited cash withdrawals for threatened regions
Bank of Russia halts publication of regulatory data and announces more emergency measures
State Bank of Pakistan launches simplified digital account
Central bank governor says Asaan Digital Account should boost women’s participation in finance
Visa, Mastercard and Amex suspend Russia operations
Bank of Russia says domestic payments will still be possible across its own systems
Bank of Russia pauses repo transactions
Central bank increases forex surcharge amid signs of strains on banking liquidity
Ukrainian central bank says lenders and payments remain stable
Shevchenko warns over foreign currency pricing as Russia increases reinsurance capital
Latin American dollar debts could cause systemic risk, paper says
Authors say the Fed risks a major policy mistake if it ignores the wider impact of tighter US policy
Ukrainian governor calls for Russia to be barred from IMF funds
Senior Russian official at World Bank resigns in protest over invasion
Sberbank Europe enters insolvency
Subsidiaries in Croatia, Slovenia and Bosnia sold off as sanctions cripple Russian lender
Rethinking sovereign risk
‘Risk-free’ assets now include the possibility of complete confiscation with no recourse
Euroclear bars rubles and Russia equities trading remains suspended
Ukraine places war bonds as unconfirmed report says Russian SWF may support equities
BoE consults on removing macro-prudential rule
Affordability test has drawbacks and may no longer be needed, given other tools, says FPC
Global markets show signs of strain as Russia sanctions bite
Flight to safe havens is starting to create tensions in dollar funding markets
US, EU and UK tighten sanctions as Nabiullina orders massive rate rise
Bank of Russia implements more emergency measures as currency falls sharply
ECB says Sberbank Europe is close to collapse
Russian-owned bank likely to be unable to pay its debts “in the near future”, supervisors say
Western officials call for freeze of Bank of Russia’s overseas assets
Nabiullina pledges liquidity support as Bundesbank official says any central bank assets are frozen
Some Eurosystem central banks hold Bank of Russia assets, ECB says
Holdings could become significant if further sanctions directly target Russian central bank
Kazakhstan orders unscheduled 325bp hike
Central banks acts under new governor as Russian invasion of Ukraine drives currency down
Poland offers Ukraine swap line as NBU suspends FX transactions
Central bank says payments system is working well but tells citizens to minimise cash use
Russian central bank announces string of emergency measures
Bank of Russia announces liquidity support, FX interventions and changes to capital ratings