Bonds
Earth to Jackson Hole: create sustainable future bonds for stability and prosperity
Marina Zucker-Marques and Kevin Gallagher offer a template for a new central bank asset
IMF to make changes to financial assessment programme
Fund says FSAP should focus on smaller financial companies, business models and risk management
Bank of Ghana clarifies losses after Reuters report
Research director explains $5.4 billion loss for 2022 mainly due to debt restructuring
BoJ unlikely to change policy further this year, analysts say
Central bank needs time to review situation after surprise yield curve move
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Climate change: a new financial risk for central banks
Overcoming ‘analysis paralysis’ and the lessons in capturing climate-related financial risks on the Deutsche Bundesbank’s balance sheet
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
PBoC eyes further opening of onshore repo for foreign investors
Chinese central bank gives first official signal it is looking at Swap Connect-style scheme for repo
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Sri Lanka calls five-day bank holiday for loan restructuring
Plan offers domestic creditors a choice of haircuts, after IMF says authorities must act on debt
BoE policy-maker flags perils of ‘dynamic leverage’
Market participants need to fully understand the consequences of fund structures, says Jonathan Hall
BoE launches first ‘system-wide’ stress test
Analysis will assess how banks and non-banks interact to amplify shocks
Rate risk under Pillar 2 left ‘hole in the system’ – Ingves
Former Basel chair says rate risk “probably” should fall under Pillar 1; greater focus needed on liquidity rules
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
Thugge confirmed as next Kenya governor
President’s adviser gets parliamentary approval and calls for dollar bonds to boost reserves
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
Sarb sounds alarm on sanctions risk
Central bank says country could face financial isolation if US thinks it arms Russia
Spillovers more widespread than previously thought – Boston Fed
Many central banks cause spillovers besides the Federal Reserve, researcher says
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
China and Hong Kong set to launch Swap Connect
New trading link will make it easier for foreign investors to hedge interest rate risks
Another financial crisis hiding in plain sight
Steve Kamin analyses how the risks that sank SVB were plain enough to those who looked for them
Book notes: States and the masters of capital, by Quentin Bruneau
Chronicling the practices and players involved in privately financed sovereign debt
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses