Central Banking
UN says rival Libyan central banks will be audited
Central bank is depository for civil war-torn country’s vital oil earnings
Fed extends emergency facilities for three months
Move comes as US Covid-19 reported cases surge to record highs ahead of July FOMC decision
Covid-19 likely to affect return of paper £20 banknote – BoE
Central bank reports consumers are likely to hold onto old banknotes until they cease to be legal tender
Bank of Israel’s bond purchases are working – deputy governor
Andrew Abir says corporate bond purchases have eased conditions for non-financial firms
Fed’s forward guidance has significant bond yield impact – DNB paper
Researchers say data indicates that Fed managed to preserve monetary policy credibility
ECB slows down PEPP purchases
Emergency asset buying fell to lowest level since programme was launched in April
ECB extends eurozone banks’ dividend payment pause
Enria says banks face “radical uncertainty” over pandemic’s economic impact
FCA presents new design for financial services register
UK regulator says website aims to boost consumer protection and make key data easier to find
Sarb eases conditions on emergency loan guarantees
South African central bank introduces new loan types to assist uptake of the scheme
IMF needs new tool to deal with pandemic – former officials
Current programmes place too much emphasis on adjustment, two ex-officials argue
UK’s tough legacy fix spells trouble for US Libor transition
FCA will have little control over how synthetic Libor rates are used in other jurisdictions
Thai central bank authorises facial recognition as KYC tool
Bank of Thailand says move will help reduce spread of coronavirus
Female workers badly hit by pandemic job losses – IMF economist
Lower-paid workers hit hardest both by 2008 recession and slump caused by pandemic
CBDCs cannot have unlimited privacy – Canadian deputy governor
Timothy Lane says central banks should consider “hybrid privacy levels”
Structural changes may increase dollar funding strains – IMF paper
Some emerging markets still face “significant funding pressure”, researchers find
Chile and China expand bilateral swap line
Central banks more than double size of swap line and expand scope of use
Bank of Russia cuts rates to record low
Governor argues monetary stimulus will offset fiscal consolidation efforts in 2021–22
Lagarde hails EU fiscal-monetary co-ordination
Recovery fund will support economy from 2021, avoiding fiscal tightening once national stimulus lapses, stresses ECB president
IMF lifts limits on financial support facilities
Decision provoked debate among board members on whether fund should be taking additional risk
FSB study finds quantifying climate risks is still a challenge
Stocktake finds many jurisdictions integrating climate risks into their frameworks, but progress varies
BIS’s Borio says policy buffers should be repaired as soon as possible
Economist highlights three long-term challenges to tackle post-coronavirus
Dominican Republic launches facility to tackle pandemic impact
Equivalent of $1 billion made available for firms and households, but regulatory relief could raise stability concerns
BEAC to buy securities to support countries grappling with Covid-19
Bank of Central African States will purchase up to $830 million in secondary market
Sarb cuts rates as unemployment breaches 30%
Central bank says emerging markets will struggle as lockdown measures ease