Central Banking
Lebanese central bank official arrested over currency allegations
Currency crisis deepens as prime minister and central bank trade accusations
Liberian government releases four central bank officials
Government official says it is “going after” central bank board despite unclear evidence of alleged theft
Lower-income households feel worst of Covid-19 economic shock – Fed survey
Nearly 40% of low-earning households faced at least one job loss in March, survey finds
Eurozone saw limited price convergence from 2001–11 – Bank of Spain
Researchers say this limited long-term alignment should be added to central bank policy framework
MAS will regulate token derivatives
Central bank updates securities legislation to regulate tokens offered by approved exchanges
Bank of Mauritius pushed to tap reserves for business lending
Mauritius’ prime minister thinks the central bank should fund businesses direct from its reserves – but at what cost?
Fed flags ‘elevated’ risk of financial stability pressures
System coped with immediate Covid-19 stresses, but trouble may be building, central bank says
PBoC’s post-pandemic policy is still up in the air
The Chinese central bank has resisted radical easing, but with the NPC meeting this week, more loosening could be on the way, despite debt-level concerns, writes Hui Feng
Mersch says retail CBDC could destabilise financial system
Central bank digital currency could worsen bank runs and harm disintermediation, ECB official says
MAS announces $4.2 million support for Singapore fintech firms
New support for fintech sector follows $88 million package announced in April
Covid-19 should serve as warning for climate change – BIS official
Policy-makers need “holistic approach” to global risks, says Luiz Awazu Pereira da Silva
Mexican central bank cuts rates but stays cautious on inflation
Falling peso and supply disruptions make inflation outlook “uncertain” despite recession, board says
RBI economists hunt for suitable core inflation measure
Study examines 11 candidates for a less volatile inflation measure that is easy to communicate
Economists race to merge epidemiology and macro
Promising results are emerging, but workable forecasts may be some way off
Bank of Canada warns of major rise in mortgage arrears
Mortgage arrears could rise to levels nearly double seen in global financial crisis, central bank says
Chile requests flexible credit line from IMF
IMF’s Georgieva says she will recommend Chile receives access to $24 billion credit line
Banks are ‘inherently unstable’, BIS paper finds
Researchers study the many roles banks play and find all of them tend towards instability
Podcast: Financial innovation and stability in the US
In the latest episode of the FedSpeak podcast, the Atlanta Fed’s Larry Wall discusses stablecoins, reserve currencies and credit loss accounting through the lens of financial stability
Bank of Israel reserves rise by 5.6% in April
Government transfers from abroad boost central bank’s reserves portfolio by almost $6.5 billion
ECB widens scope of female recruitment targets
Central bank’s efforts to recruit women will now reach down past senior roles
CBDCs unlikely to be based on blockchain – Central Banking survey
New Central Banking survey finds central banks favour DLT for possible digital currency projects
Pandemic debt will test policy-makers – Richmond Fed research
Authorities may opt for “financial repression” policies with central banks keeping rates low – paper
Fed not considering negative rates – Powell
More fiscal support may be needed, as Fed’s lending will only be effective “for a while”, says Fed chair
German banks’ capital levels affect loan supply – Bundesbank paper
Authors find balance sheet data shows loan supply has positive elasticity to capital levels