Liquidity
Chinese draft law sets up financial stability fund
New government committee would oversee financial stability as concerns grow
Technology services: SAP
The software company pulled off a high-stakes ‘big-bang’ launch of a new core banking system for the Saudi Central Bank
ECB opens €10 billion swap line with National Bank of Poland
Central bank extends repo lines with non-eurozone counterparts until January 2023
ECB announces phased end to Covid-19 collateral loosening
Conditions for access to liquidity schemes will tighten but Greek sovereign debt waiver will remain
Uzbekistan central bank orders 300bp rate increase
Board refers to “high uncertainties and tensions in the external economic environment”
Energy firms call for central bank support to cover margin spikes
Trade body warns energy market participants risk being unable to meet “unprecedented margin requirements”
Book notes: Shutdown, by Adam Tooze
A useful, wide-ranging overview, showing how health and economic policies are intimately intertwined with geopolitics
Some CCPs could struggle to cover major losses – FSB
Cyber attack could pose serious problems for systemically important CCPs, report finds
Bank of Russia pauses repo transactions
Central bank increases forex surcharge amid signs of strains on banking liquidity
Bank of Canada says software problem halted repo auction
Central bank says securities repo operations have now restarted
Ukrainian central bank says lenders and payments remain stable
Shevchenko warns over foreign currency pricing as Russia increases reinsurance capital
Sberbank Europe enters insolvency
Subsidiaries in Croatia, Slovenia and Bosnia sold off as sanctions cripple Russian lender
ECB says Sberbank Europe is close to collapse
Russian-owned bank likely to be unable to pay its debts “in the near future”, supervisors say
BIS targets green bond growth with launch of Asian fund
“We expect a fast-growing market for green bonds,” says BIS banking head Peter Zöllner
Banks still falling short of final Basel III requirements
Basel Committee says some metrics seem to have been impacted by Covid-19
RBA preparing changes to open market operations
Assistant governor says reforms needed as liquidity and monetary policy evolves
Half of fintech benchmarks respondents use AI/ML tools
Richer nations more likely to use artificial intelligence
Diego Labat on policy normalisation, capital flows and tech challenges
The Central Bank of Uruguay governor speaks with Christopher Jeffery and Ben Margulies about governance, financialisation, flexible rates versus capital controls, payment upgrades and CBDCs
Efficient data reporting is main suptech driver
Resource constraints are the biggest challenge in developing a suptech strategy
Firms must improve liquidity safeguards – BoE’s Cunliffe
March 2020 “dash for cash” shows need for better margining practices, deputy governor says
BIS paper highlights money markets’ impact on real economy
Central bank liquidity interventions can prevent large drops in output, authors find
How Afghanistan’s central bank can help prevent famine
Rules could be devised to allow the New York Fed to ease the acute US dollar banknotes shortage, writes Warren Coats
‘Flood’ of reserves may not boost liquidity, say Acharya and Rajan
Central bank balance sheet expansion could harm liquidity in some cases, former RBI officials find
Over half of central banks modified collateral policies during the pandemic
Most reduced haircuts on banks’ collateral