Financial Stability
Podcast: Financial innovation and stability in the US
In the latest episode of the FedSpeak podcast, the Atlanta Fed’s Larry Wall discusses stablecoins, reserve currencies and credit loss accounting through the lens of financial stability
ECB backs use of EU central banks for job subsidies
“Sure” scheme to pay job subsidy funds would be within EU law, ECB says
US MMFs transmitted Covid-19 stress to banks – BIS research
Banks outside the “epicentre” of the dollar squeeze still felt the effects, researchers say
PMA tries to mediate dispute over bank account closures
Banks in Palestine caught between Fatah gunmen and Israel Defense Forces order
The impact of AI adoption on supervisors
MAS’s former data chief says a triad of basic AI training, supervisor data scientist hubs and suptech adoption create strong foundations
IMF considers Peru credit line and gives further aid packages
Kyrgyzstan receives second aid package while IMF grants debt service relief to Djibouti
US banks should prepare for uneven recovery – Patrick Harker
Banks “shouldn’t be issuing large dividends at the moment”, Philadelphia Fed chief says
Brazil changes law to allow QE amid chaotic response to virus
Finance minister says central bank will “shower” country with liquidity if needed
BIS paper: twin financial cycles can ‘turbocharge’ crashes
Policy-makers should differentiate between domestic and global cycles, authors say
Hong Kong’s Exchange Fund reports record loss in first quarter
State fund’s assets lose $11 billion and investment chief warns of further losses
New York Fed paper finds possible failings in US pandemic aid
Research on Paycheck Protection Program says some heavily virus-affected areas of US may be losing out
HKMA sets up inter-agency group for green finance
New initiative aims to co-ordinate regulation as ADB says Asia has huge green finance needs
Book notes: In the combat zone of finance, by Svein Harald Øygard
A fascinating and readable book for those charged with maintaining financial stability and interested in a new perspective on institutional efficiency
German court rules ECB must provide more evidence on PSPP
Judges strongly criticise ECJ’s ruling on QE programme, but stop short of declaring it unlawful
Dominican Republic governor opposes ‘inadmissible’ pension proposal
Allowing workers to withdraw savings could create long-term crisis, Héctor Valdez Albizu warns
Fed could purchase $750 billion of corporate debt in new facilities
Fed clears staff to purchase investment- and non-investment-grade debt and ETFs
Covid-19: a hacker’s opportunity
What can central banks do to plug cyber threat weaknesses?
IMF extends Article IV consultations as it steps up aid efforts
Nine more countries receive IMF aid as demand continues at “unprecedented” levels
Payment giants ask EBA for PSD2 extension
Covid-19 disruption puts strong customer authentication deadline in doubt
Lebanese PM asks for IMF aid as dispute with central bank grows
Governor at centre of massive economic crisis appears to condemn PM’s words as “slander”
Carbon tax spike could spur global recession – S&P
Higher carbon prices would trigger widespread industry defaults, says agency research unit
Basel Committee ‘stock take’ highlights progress on climate risks
Members are conducting research and issuing guidance, but most are not yet making changes to capital frameworks
Nigeria gets $3.4 billion IMF support
IMF calls for more donor support but warns over possible misuse of aid
RBNZ lifts mortgage lending restrictions for one year
New Zealand's central bank says latest crisis move will not weaken financial resilience