United States
FedNow: the road to non-bank access to US instant payments
Debate over granting non-banks access to Fed systems reveals possible flaws in US regulation
Fed to expand paycheck liquidity facility after criticism
Some observers say Paycheck Protection Program not reaching most affected firms
Women affected more by job losses in US lockdown – Kansas Fed
Roughly 60% of job losses were to women in the first half of March, researchers find
Fed’s balance sheet increases by 50% since March
Total assets now just shy of $6.4 trillion, a new record high
Fed banks ramp up Covid-19 surveying
Real-time and weekly surveys reveal deepening economic fallout
Mass testing ‘would end crisis’ – Bullard
Government should foot bill for Covid-19 test production, Bullard says
Fed paper examines drivers of US leverage
Economic growth can be major influence even without loose monetary policy, researchers say
Trump’s NAFTA replacement could harm car production – Dallas Fed research
Authors say Mexico could face biggest loss from USMCA deal
Podcast: adapting economic education for demographics and fintech
St Louis Fed’s Mary Suiter discusses the reserve bank’s new programme for Native American economic education
Policy-makers making risky ‘one-round bet’ on Covid-19 – El-Erian
Former Pimco chief worried about readiness and ability of policy-makers to tackle a ‘second wave’ of infections
Fed takes first step to unwind repo support
Repo market is showing signs of “more stable” conditions, New York Fed says
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
US must overhaul statistics to fight coronavirus – Minneapolis Fed paper
New methods, laws and cross-sector agreements are necessary to support real-time data analysis, research says
Crises enliven ‘totalitarian temptations’
The coronavirus pandemic will embolden governments and bodies such as the International Monetary Fund to grasp for more power, writes Steve Hanke
People: Sarb and BoE renew senior appointments
Senior Sarb and BoE officials receive new terms; MAS picks new assistant managing director; ECB appoints director; William Dudley takes consulting job
Official institutions shed US Treasuries in record amounts
Fed holdings of Treasury securities for foreign official institutions dropped by $127 billion in March
US jobless claims eclipse previous week’s record high
Economy will require more fiscal support, say current and former senior government officials
Fed eases capital restriction on large US banks
US repo rates stray into negative territory as investors make massive flight to safety
Accounting for losses during a pandemic
US banks get green light from senators to use loan loss accounting methods widely criticised following 2008 crisis
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
Fed opens dollar funding to majority of central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars
Failure to curb ‘binge borrowing’ could worsen downturn – Yellen
“Excessively” high corporate borrowing may trigger a “wave of corporate defaults” in the coming months, former Fed chair warns
Covid-19 uncertainty to have long-lasting impact – SF Fed paper
Inflation may turn negative over the near and medium term, researchers estimate
‘Ostrich approach’ to financial stability is a mistake
Denmark’s top supervisor, Jesper Berg, says scaling back IFRS 9 would be a costly error, despite the economic challenges raised by Covid-19