Central Banking
HKMA sets new Libor transition milestones for banks
Nearly all banks have transition plans but risks from benchmark reform continue to build up in the banking system, HKMA warns
CPMI launches plan to boost cross-border payments
Policy report envisages public-private partnership to break down obstacles to global payment flows
Sri Lankan governor obeyed president’s call for credit easing – reports
Central bank closes down two more deposit-taking institutions in signs of further strain
State guarantees helped prevent drop in business loans – ECB survey
But credit standards to households tightened further, as higher NPL ratios hamper credit provision
Banks used TLTRO to convert less liquid assets – ECB paper
Researchers say that broad collateral standards for first TLTRO series played important role
Cash issuance in Botswana balloons 18% in 2019
Annual report shows banknote issuance growth for all denominations, despite rise in electronic payments
Libra reinvents itself in bid to overcome ‘fatal’ flaw
Pivot to present more of a payment-network image could save libra from regulatory haranguing. But at what cost for innovation?
What makes for good financial supervision?
The Wirecard debacle has led to calls for more effective oversight in Europe. Andreas Dombret identifies four essential elements
Croatia and Bulgaria join ECB’s exchange rate mechanism
Both countries move closer to eurozone membership as largest Croatian banks come under SSM
After social distancing: prepare for national distancing
If the Covid-19 pandemic triggers a desire to onshore production, international capital flows will come under a new spotlight
RBI’s Das calls for legislation on resolution corporation
Several banks in India remain troubled, and Covid-19 may trigger further problems, governor says
Trust in big tech falters during pandemic – research
Netherlands Bank says trust in most public institutions has risen as banks step up during pandemic
Yaron supports Israel’s increased fiscal stimulus
Package could push budget deficit to 13% of GDP in 2020
Bank of Jamaica weighs up CCyB
Central bank outlines proposals to tackle “excessive pro-cyclicality”
Haldane and co-authors conclude QE has made UK happier
Authors use survey data to track QE’s impact on household balance sheets
Ukrainian security warns Gontareva over ‘Central Banking’ article
IMF representative voices support for central bank as ex-governor Smolii reports threats
EME financial markets are still vulnerable – BIS paper
Covid crisis has shown further market development work is needed, writes head of CGFS secretariat
Bank of Mauritius extends Covid-19 support measures
Central bank extends loan support programme and increases foreign exchange funding
European Ombudsman opens inquiry into BlackRock ESG advisory contract
Green lawmakers and NGOs say asset manager faces conflicts of interest, but firm rejects claims
FSB and BCBS survey finds ‘major’ challenges remain in Libor transition
Report highlights data gaps, issues with developing new products, and problem of “tough legacy” contracts
Bank Indonesia to buy $28 billion of government debt
Central bank increases direct financing of government, raising fears over currency and independence
Malawi’s new president dismisses governor
Former World Bank official will take over central bank as country faces uncertain outlook
US should extend benefit payments for long lockdown – ECB paper
If lockdown has to continue, lawmakers should further extend benefits to avoid major damage
Sri Lankan MPC cuts policy rate to record low
Central bank calls on commercial banks to pass on looser policy’s benefits “without delay”