United States
NGO warns of unintended effects of US sanctions on Hamas
Charity says measures will stymie bank lending to reputable non-profits
Hélène Rey on cracking the code to the global financial cycle
The dollar and financial cycle move together. For the first time, economists think they know why
ARRC replacement aims to dodge rates ruckus
Fed’s new reference rate committee wants to avoid reigniting battles about term and credit-sensitive rates
FDIC’s McKernan wants single capital stack in Basel III endgame
Rebuffing Barr’s offer of a partial rollback, Republican director also targets op risk framework
The Fed can afford to loosen policy
As (nearly) the world’s most hawkish central bank, the Federal Reserve is right to start monetary loosening, writes Steve Kamin
FOMC in no hurry to cut rates, says Powell
September’s loosening reflects growing confidence in soft landing, argues Fed chair
US auto loan delinquencies focused in new lending – study
Lower credit standards and higher payments, not interest rates, are key contributing factors
Fed relief plan for G-Sib agency clearing welcomed
Rollback may revive interest in European FCM model, as principal clearing still treated punitively
How (not) to review your monetary policy framework
The Fed made some mistakes in its last strategy review. As it prepares to have another go, it could learn from other central banks
Yellen highlights systemic risks from rise in non-bank lending
Treasury secretary says institutions’ share of credit now exceeds that of banks
Banks should account for Fed facilities in stress tests – Barr
Vice-chair says doing so would help alleviate stigma over using discount window
NBER paper seeks ‘canonical Hank model’
Early attempts at heterogeneous agent modelling led to implausible results, authors say
More CCPs would not avert US Treasuries crisis – BIS study
However, economists say central clearing could still improve market functioning
Experts split on impact of Fed’s new Basel III proposal
Economists divided over financial stability ramifications of vice-chair’s new capital ratios plan
Bank of Japan holds policy rate
Decision comes as core inflation accelerates for fourth consecutive month
Hong Kong raises rate and Taiwan holds
Decisions come a day after Fed’s 50bp rate cut
Running the numbers on Barr’s Basel III endgame revisions
Fed vice-chair’s plan to ease capital requirements for big banks still lacks critical details
FOMC initiates rate cutting with 50bp reduction
Experts say Fed’s credibility is not on the line, but Powell remains under significant pressure
Book notes: The monetarists: the making of the Chicago monetary tradition, 1927-1960, by George S Tavlas
A fascinating, scholarly and sympathetic account of the Chicago monetary tradition
Swift tailors its operations for digital assets
Network says DvP and PvP capability will let securities buyers pay for and exchange tokens simultaneously
Endgame manoeuvre: US banks put SLR reform back in spotlight
Plan to ease Basel III brings renewed focus to impact of leverage ratio on US Treasury market
OIG says Bostic violated Fed’s rules and policies
Atlanta Fed president created “appearance of acting on confidential FOMC information”
Fed’s vice-chair unveils watered-down capital requirements
Barr proposes reducing rise for largest banks from 19% to 9%
Phasing out coal-fired power could ultimately pay for itself – BdF paper
Authors say gains from lower operating and finance costs could compensate for outlay costs