Central Banks
IMF: loose monetary policy is fostering greater risk-taking
A crisis half as strong as in 2008 could send “corporate debt at risk” to $19 trillion, says the fund
Central banks should consider wholesale digital currency – BdF deputy
Markets’ “tokenisation of financial assets” risks creating disorderly infrastructure, Beau says
Riksbank’s Ingves weighs post-crisis policy legacy
“Leaning against the wind” clashing with inflation target, communications challenges and cash’s decline have shaped the last decade
BoE’s Vlieghe: central banks must focus on ‘debt, demographics and distribution’
Risk-based approach could be helpful in thinking about the impact on rates, policy-maker says
Atlanta Fed publishes 1,300-page history of the Fed
Document reveals early concerns Fed creation would lead to politics in banking or banking in politics
People: new Barbadian deputy, Riksbank research chief
Appointments in Barbados, Sweden and the UK, plus the departure of a long-serving Fed official
Ukrainian deputy governor warns government over failed bank
Any deal with former owners of PrivatBank could mean IMF halts aid, Rozhkova says
IMF warns of ‘synchronised slowdown’ as it cuts forecasts
Fund revises down growth prospects for 2019–20 and calls for action on financial vulnerabilities
Chilean central bank deputy calls for co-operation on climate change
Data collection on physical and energy transition risks and their economic impact is a priority
Bahamas takes steps towards digital currency as legal tender
Central bank proposes changes to governing law to give itself authority to issue a CBDC
MAS makes rare policy tweak amid slowing global economy
MAS targets slower appreciation of Singapore dollar, the first such easing in more than three years
St Louis Fed president calls for standing repo facility
Facility would solve “almost all” of the Fed’s problems in controlling rates, James Bullard says
DNB paper looks at how regulation affects systemic risk
Restrictions on entry increased systemic risk before financial crisis, researchers say
Interbank networks may be too decentralised – BoE paper
Model of how networks develop implies laissez-faire may not be optimum policy
Loan-to-value analysis may be incomplete as macro-pru tool – research
Loan to purchase price, and loan service to income may be more robust analytical alternatives
FSB raises pressure on stablecoins as firms abandon libra
Several major payment firms have distanced themselves from the project amid intense regulatory scrutiny
Trichet defends Draghi’s legacy against growing criticism
Former ECB president says unconventional monetary policy measures have helped to avoid deflation
Financial cycle useful for forecasting recessions – BIS paper
Measures of the financial cycle may be better predictors of recession than standard metrics
The future of cash: an update
Antti Heinonen looks at the latest trends in cash use, including a surprising turnaround for the Swedish krona
Global banks vulnerable to dollar funding shocks, IMF stability report shows
There has been a “resurgence” of US dollar liabilities relative to assets in non-US banks, IMF warns
Fed unveils plan for ‘technical’ asset purchases
New York Fed will buy Treasuries “at least into the second quarter of next year”
Falls in uncertainty may warn of coming crises – Bundesbank paper
Researchers attempt to quantify relationship between rising confidence and early signs of crisis
Draghi defends ECB policy
ECB president welcomes debate but insists crisis-fighting policies saved eurozone