Central Banking
IMF backs $3.1 billion loan for Egypt
Conditions include locking in the floating exchange rate
PBoC keeps lending rates unchanged
Analysts expect central bank to cut key lending rates in coming months to support property sector
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Non-bank growth pushes global financial assets to new peak
Riskiest forms of shadow banking are growing faster than other areas of finance, FSB data shows
European rates: Norway expects more tightening next year
Switzerland raises rates 50bp and Denmark raises rates in line with ECB
BoE unveils King Charles III note design
New print will enter circulation by mid-2024
Latin American rates: Colombia adopts highest rate since 2001
Argentina holds steady again, while Nicaragua raises rates
Bank of Japan surprises analysts with yield curve tweak
But governor Kuroda says the move is not a rate hike nor a step to end easy policy
Capturing moral hazard: the Scarlet Pimpernel of finance
Moral hazard exists in many contexts, but can be ‘damned elusive’ to capture, writes Jesper Berg
BoE outlines plan to adapt to drop in cash volumes
Legislation will give regulators stronger powers to intervene in wholesale cash market
ECB adopts new ethics rules on trading
New rules ban holding of individual equities, similar to Fed reforms
BoJ accord may be revised with more flexible inflation target
Planned revision could lead the BoJ to tweak its ultra-loose policy, reports say
Bank of Russia eases disclosure rules on digital asset firms
Moves designed to ease sanction pressure, as Nabiullina signals use of crypto for international trade
Bahamas Securities Commission denies secret agreement with FTX
US liquidator claims millions of dollars were withdrawn with authorities’ agreement
Economics Benchmarks 2022 – executive summary
Key findings of the 2022 report, including model choices, governance structures and data use
Governors approve plan to regulate banks’ crypto exposures
Basel standards place heavy risk weighting on unbacked crypto assets in bid to limit banks’ exposures
Philippines governor withdraws opposition to SWF
Parliament passes president’s project after changes, despite warnings over corruption
Myanmar sentences ex-deputy governor to 20 years
Supporters say Bo Bo Nge was “incorruptible” and reject military regime’s charges
Mexico continues tightening with 50bp hike
Central bank shadows Fed as it confronts ambivalent inflation figures
Paraguayan ex-governor says central bank loans are illegal
Congress votes for interest-free advances amid dispute among ruling party’s factions
Costa Rica pauses hikes, joining Latin American trend
Central bank wants to give previous hikes time to filter into market rates
Armenia, Mauritius and West African states raise rates
Bank of Mauritius will move to new monetary policy framework in January