Federal Reserve System
US must review payments system oversight, Brainard says
Big tech’s currency plans could mean payments oversight is further weakened – senior Fed official
Fed’s repo tapering plans hit snag
Banks demand double what was on offer at Fed’s first reduced repo offering
Economics in central banking: Matteo Maggiori, Brent Neiman and Jesse Schreger
The Global Capital Allocation Project has helped pick apart the tangled network of cross-border capital flows. The work may prove essential to those looking to shore up the international monetary system
US regulators propose third Volcker rule revision
Banks could soon regain permission to invest in speculative funds, but one official dissents
Rising US rates can be ‘good news’ for EMEs – Fed paper
Researchers examine difference in spillovers from growth- and inflation-driven rate increases
Custody initiative: Euroclear
The securities depository has debuted instant dollar settlement in central bank money outside the US – a service that has virtually eliminated settlement risk
De Guindos stresses uncertainty from coronavirus outbreak
Powell and Carney said Fed and BoE are closely monitoring the virus’s impact on the economy
US leveraged lending rose further from 2018–19
Regulators urge banks to adopt risk-management measures to reflect changing market conditions
Fed will ‘probably’ join green central banking group – Powell
Public has right to expect the Fed to ensure the system is resilient against climate change, says governor
US Democrats strongly criticise regulator
Some lawmakers accuse OCC head Otting of ignoring Congress over controversial lending proposals
Fed leaves monetary stance unchanged but tweaks IOER
FOMC also announces updated plans on its balance sheet and repo market interventions
Fed paper models new transmission channels of forward guidance
Allowing for household borrowing amplifies forward guidance effectiveness, researchers find
ETFs are exposing EMEs to global capital flows – Fed paper
Sensitivity of ETF flows to global financial conditions is 2.5 times higher than mutual fund flows, researchers find
Inside the 2020 FOMC
How might the dove-hawk balance shift with five fresh voters?
Optimal US reserve regime is between scarcity and abundance – research
Former NY Fed official Simon Potter and co-authors map post-crisis demand curve for reserves
Brookings paper examines impact of governance structures on use of CCyBs
Countries with strong governance mechanisms are more likely to use the macro-prudential tool, researchers find
People: Trump nominates Shelton and Waller to Fed posts
Judy Shelton and Christopher Waller nominated as Fed governors; Kingsley Obiora in line to be Central Bank of Nigeria deputy; Jill Forde named BIS head of communications
Regional Fed presidents warn asset purchases are creating risks
Robert Kaplan expresses concern over Fed’s response to market funding pressures
Central banks must learn lessons of BoJ’s inflation target rise – Fed paper
Failure to hit old targets and disagreement among policy-makers will harm credibility, paper argues
Brainard lending proposal gets boost in Congressional hearing
Participants applaud Fed proposal, while strongly criticising plan by OCC’s Otting
Trump threatens to cut off Iraq from New York Fed account
Central Bank of Iraq risks losing access to New York Fed account if government ousts US soldiers
Liquidity operations squeezed Fed’s net income last year
Repurchase agreements cost the Fed $6 billion in 2019, preliminary results show
Trump’s criticism undermining confidence in Fed – Yellen
Political pressures could hurt central bank independence, says former Fed chair
Fed to wean banks off daily repos later this year
Total reserves may need to be higher than Fed initially judged as demand for repo operations remains strong