Financial Stability
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
Banks still falling short of final Basel III requirements
Basel Committee says some metrics seem to have been impacted by Covid-19
US announces initial financial sanctions on Russia
Biden administration bars secondary market bond transactions, but expert says impact likely to be limited
UK sanctions on Russia target five smaller banks
EU and US yet to announce detailed measures as expert calls possible Biden measures “weak”
Diego Labat on policy normalisation, capital flows and tech challenges
The Central Bank of Uruguay governor speaks with Christopher Jeffery and Ben Margulies about governance, financialisation, flexible rates versus capital controls, payment upgrades and CBDCs
US short and mid-term inflation expectations fall, says NY Fed
But housing price expectations rose 0.5% in January
FSB warns of rising crypto asset risks
Sector could harm global financial stability if it carries on growing at current rate, FSB says
Fed to stress-test banks’ commercial real estate exposures
The Fed will look at lending capabilities under ‘severe’ economic conditions
Change at the Bundesbank: from Weidmann to Nagel?
Joachim Nagel’s appointment highlights the importance of politics at the apex of German central banking. Veteran central bank watcher Klaus C Engelen looks at the media reaction and asks if Buba/ECB discord is set to continue
Nigerian governor says credit programme has boosted agriculture
Emefiele repeats warning on over-reliance on oil and says central bank has lent $2 billion to farmers
Podcast: fixing the gaps in fintech laws
Fintech is reshaping the nature of contracts and even financial firms themselves, but laws are not adapting so fast, say IMF lawyers José Garrido and Juan Sebastián Viancha Trujillo
European banks face increased leveraged lending risks, says Enria
SSM chair highlights cyber attacks and climate change as emerging risks to financial stability
Firms must improve liquidity safeguards – BoE’s Cunliffe
March 2020 “dash for cash” shows need for better margining practices, deputy governor says
Palestine Monetary Authority launches new payment system
Governor says authority is planning measures to discourage the use of cash
Turkish government fires statistics head as inflation climbs rapidly
Finance minister meets London investors after official inflation hits highest level since 2002
Sri Lankan governor denies country is seeking IMF deal
Governor publicly contradicts finance minister’s statement on IMF aid as crisis deepens