Coronavirus
Federal Reserve to end payout caps for better-capitalised banks
Fed will lift limits on payouts and buy-backs for banks passing stress tests on capital levels
Riksbank to open two contingency cash offices
Offices will be opened this year and next to guard against disruptions to cash supply
Central Banking Awards 2021: winners in full
Winners in 2021 include the Federal Reserve, Alejandro Díaz de León and Charles Goodhart
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
Central Banking Awards 2021: final winners unveiled
Awards announced for central bank of the year, economics, risk management and more
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions in March 2020 forestalled a damaging global financial crisis, as policy overhaul prompts introspection in Europe and Japan
Risk manager: National Bank of Georgia
Liquidity stress tests provided confidence to ease daily thresholds, and offer exchange rate, internal market and financial system support, without forcing the liquidation of illiquid reserves
Initiative of the year: Saudi Central Bank’s business continuity programme
Advanced planning has allowed Sama employees and systems to continue operating critical functions despite the Covid-19 lockdowns
Risk management technology: Ion Treasury
The US firm has championed Libor transition services, and supported reserve managers manage positions during the coronavirus shock
ECB weekly asset purchases raised to €21.1 billion
On March 11, central bank promised to conduct purchases “at a significantly higher pace”
Lagarde highlights uncertain outlook due to vaccination
ECB ready to adjust policy tools to ensure inflation increases towards target
Central Banking Awards 2021: third round of winners revealed
Awards go to central banks and market practitioners for payments, market infrastructure and currency
China appoints two new PBoC policy members
PBoC gets two new monetary policy members as IMF warns of rising stability risks
Financial market infrastructure services: Bloomberg
Bloomberg’s responsive deployment of new liquidity capabilities helped emerging-market central banks cope with pandemic market disruption
Payments and market infrastructure development – retail: Central Bank of Hungary
The Hungarian central bank’s strict implementation requirements and unique operational setup has supported the acceleration towards electronic payments during the pandemic
US regulators end leverage ratio exemption
Fed, OCC and FDIC stick to March 31 end date despite reports of industry lobbying
RBA opened banknote contingency site during pandemic
Strength of banknote demand during pandemic was ‘unprecedented’, RBA bulletin says
Future of cash: what we can learn from the history of money
Central banks must take a broad view of efficiency if they are to preserve the benefits of cash, says Antti Heinonen
Credit line exposures worsened Covid bank stock crash – NBER paper
Authors suggest “contingent leverage” could be included in stress tests
BoE holds interest rates as MPC members differ over risks
MPC points to signs of stronger recovery but also uncertainties around household spending
Brazil’s central bank raises policy rate
MPC signals it is ready to raise rates at May meeting in response to rising inflation
Fed keeps policy rate steady
Jerome Powell says FOMC will hold policy until it sees “actual progress, not forecast progress”
Eurozone inflation remains stable
Official figures show inflation at 0.9%, unchanged from January
Pandemic likely to worsen market concentration – IMF research
Authors warn rising market power tends to impair monetary and fiscal policy