Financial Stability
ECB, BoJ, BoE and SNB reduce Fed dollar liquidity operations
Seven-day operations will decrease from daily to once a week
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
First Republic Bank at risk of collapse after deposit flight
Shares in US bank plummet as scale of outflows becomes clear and rescue options remain obscure
Fed triennial study shows rapid growth in electronic payments
ACH payments contributed to 90% of non-cash payment value increases in three years
PBoC and MAS join forces to promote sustainable finance
New task force will work to align green taxonomies in China and Singapore
Asset purchases stopped mutual fund crisis, ECB paper finds
ECB’s emergency purchases in Covid-19 pandemic prevented asset fire-sale spiral
CBDC could increase financial instability, Fed’s Bowman warns
Retail CBDC would not improve payments or financial inclusion, she says
Finance must do more on climate risk, BoE’s Breeden says
Sector using lack of certainty as “an excuse to go slowly,” senior official says
ECB paper looks at borrower-based macro-pru limits
Households’ resilience and banks’ capital ratios improved by caps on borrowing
Immigration decline hurts growth and inflation prospects – Fed research
Dallas Fed VP says “absolutely” a link between low immigration and rising inflation
BoE prepares shake-up of UK deposit insurance
Proposals aim to boost efficiency of payouts, as Bailey hints limits could be raised
Stagnant US bank numbers ‘concerning’ – Fed’s Bowman
Governor argues regulation be loosened for bank formation, not tightened for mergers
Carstens calls for return to ‘region of stability’
Short-term thinking has led to increasingly painful trade-offs for policy, BIS chief says
ECB supervisory regime needs change – report
Current approach is “too capital-centric” and needs to be streamlined, says panel
Global recession possible, Canadian governor warns
Tiff Macklem says firms are still raising prices excessively
Bailey raises possibility of setting bigger liquidity buffers
BoE governor says “we can’t assume” current buffers are still appropriate
FSB to draw lessons from banking stress
Nature of vulnerabilities and speed of recent crisis call for review of regulation, Klaas Knot says
US banks still vulnerable to interest rate risk, IMF warns
“Supervisory lapses” appeared to be a factor in recent collapses, as many institutions remain exposed
Geopolitical risks set to fuel financial instability, IMF says
Report urges supervisors to integrate this factor into their stress tests
Central banks need non-bank liquidity ‘toolbox’, says IMF
Fund says central banks should act as lender of last resort to systemically important non-banks
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
BoE paper explores ‘anatomy’ of gilts crisis
Detailed account of crisis reveals contagion, concentrated risk and role of wider market players
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