Central Banking
FOMC considering repo market tools, minutes show
Meeting participants worried that standing repo tool might create moral hazard
RBI to resolve first non-bank under revised bankruptcy code
Move could set precedent for wider financial sector clean-up as fallout from liquidity crunch continues
In-depth: have central banks worsened the secular slowdown?
IMF economist Bas Bakker shares his argument that central banks have misdiagnosed falling growth and long-run rates. He and several other economists are now calling for a rethink
Climate risks may be uninsurable – DNB’s Elderson
NGFS chairman calls on the implementation of a carbon tax to help mitigate these risks
Eurozone should look at raising capital buffers – ECB paper
Impact on growth of 50-basis point rise in counter-cyclical buffers would be limited, researchers say
China trims new benchmark rate amid inflation dilemma
PBoC cuts one-year benchmark rates again, but surging inflation remains an issue
US growth trend could fall for the next 10 years, SF Fed paper warns
Productivity slowdown in construction has contributed 30% of slowdown since 1950s, researchers find
Riksbank warns of rising financial stability risks in Sweden
Global economic slowdown and continued low rates may encourage greater risk-taking
US-China trade deal could damage some countries’ trade flows – IMF paper
Eurozone could face loss of trade from between $61 billion to $84 billion, researchers find
Australia’s AML regulator takes action against Westpac
Large lender found to have breached AML regulation millions of times, including 12 customers linked to child exploitation payments
Consumer data must be handled ‘properly’ – FCA official
Firms must ensure they are using data “ethically”, FCA’s Mills says, if open banking is going to be a success
FSI paper details ‘red team testing’
Paper sets out how the cyber-security tests are used in different jurisdictions
Liberian central bank cuts rates amid new banknote controversy
CBL warns of falling growth and rising inflation as confusion surrounds new banknote measure
RBNZ sanctions bank over capital calculation errors
Bank of New Zealand appears to have misreported risk weights for several years
Zimbabwe reverses policy stance, slashing rates to 35%
Monthly inflation continues uptick, but central bank’s MPC halves policy rate following review
US market liquidity deteriorated in 2019, Fed warns
Frequency of equity market flash events has increased significantly since 2018
European pension fund liquidity may need to rise – Danish central bank
Central clearing exemption to expire in 2023 under market infrastructure regulation
Powell meets Trump in the White House again
Fed makes one notable change to its statement, compared with February’s communication
RBA considered cut at latest meeting – minutes
Case was made for monetary easing, but board opted to wait for data on previous cuts before launching further policy action
Argentina’s currency controls help stabilise peso and reserves
Uncertainty about the fiscal policies of the incoming president is contributing to falling bond prices
Irish central bank publishes sanctions guidance
Some banks still expect good settlements despite “obstructionist attitude”, senior regulator says
Uzbekistan boosts transparency with new central bank law
New law strengthens inflation targeting as country wrestles with ambitious reforms
Risk of hitting ZLB in the future reduces inflation today – Fed paper
Policy-makers could use “risk-adjusted policy rule” to offset risk of undershooting, researchers say
Crypto assets may force central banks into policy synchronisation
Paper examines the impact a global crypto asset would have on the “impossible trinity”