Financial Stability
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
BIS paper highlights money markets’ impact on real economy
Central bank liquidity interventions can prevent large drops in output, authors find
World Bank urges Georgia to make ‘further efforts’ on financial stability
Report praises “significant progress” but says work is needed on supervision, AML and inclusion
Liberian central bank publicly burns outdated currency
Move aims to rebuild public trust after long-running “missing banknote” controversy
How Afghanistan’s central bank can help prevent famine
Rules could be devised to allow the New York Fed to ease the acute US dollar banknotes shortage, writes Warren Coats
Lebanese president accuses central bank of obstructing audit
Judge issues summons for governor as staff refuse to share data for long-delayed audit
Planned EU cross-border trading ban to hit most large markets
Most major jurisdictions currently provide either interdealer or client exemptions
The case for trade surveillance in FX and fixed-income markets
This whitepaper explores the essential need for central banks to monitor activity for signs of market abuse, which has a negative impact on the economy and society
IMF staff agree outline of deal with Argentina
Argentina accepts need for policy framework leading to positive interest rates, IMF says
ECB launches climate risk stress tests
Exercise will feed into SREP and could indirectly affect lenders’ capital ratios, ECB says
Sri Lanka raises rates as food prices rise sharply
Governor says country does not need IMF aid despite minister warning of potential energy blackout
‘Flood’ of reserves may not boost liquidity, say Acharya and Rajan
Central bank balance sheet expansion could harm liquidity in some cases, former RBI officials find