Liquidity
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
BoE’s Bailey explores future of balance sheet policy
Question of whether QE is “state contingent” could impact how it is deployed through the cycle
Guy Debelle on the future of the FX Global Code
Code’s creators considering updates to sections on last look and pre-hedging
Former RBI official Rabi Mishra on macro-pru in the post-Covid world
The former executive director discusses challenges for supervision, global governance reform and the rise of fintech
Paper lays groundwork for Canadian ‘Hank’ model
Author estimates “earnings process” as step towards heterogeneous agent modelling
Non-banks continue to eat into banks’ market share
FSB monitoring finds patterns of links between banks and non-banks are changing
A ‘love-hate’ relationship with ESG screens
ESG screens seen as a first step in adopting sustainable investment practices, so why do so few central banks use them?
SNB’s Maechler: innovation hub in race to catch up with fast-paced markets
Swiss hub is laying foundations for a fast market-monitoring platform
BoE prepares to launch sharia-compliant liquidity facility
Special-purpose vehicle will be structured as a ‘wakalah’ or fund-based liquidity facility
Is the RBI doomed to fail its ‘quest for financial stability’?
Covid-19 has set back progress on hard-won reforms. As the economy struggles to recover, the RBI and government must walk a treacherous path back to safety
Lessons from the Riksbank’s negative rates experiment
Sweden is the only nation to have implemented negative rates and then returned them to ‘normal’ territory. What can central bankers learn from the Swedish experience?
US banks cede to SOFR lending as credit hopes fade
Critics of risk-free rate say dynamic spread will be too late for transition
MAS unveils yuan funding for banks in Singapore
New funding scheme of up to 25 billion yuan replaces overnight funding facility
Excess liquidity can weaken policy transmission – BoE paper
“Novel dataset” sheds light on possible unintended consequences of crisis-fighting measures
FSB to tackle systemic risk in non-bank sector
Regulation likely but policy-makers want to avoid damaging an important funding source
Vocalink to provide Canada’s real-time payments infrastructure
Mastercard company wins contract to provide infrastructure and support services for “real-time rail”
BoE’s Cunliffe: hedge funds played key role in March ‘turmoil’
Risk management actions by leveraged funds can destabilise the financial system, deputy says
A 19th century bank failure holds lessons for stablecoin era – BIS paper
Bank of Amsterdam’s early “stablecoin” fell apart as the bank lent more freely, authors say
RBNZ launches funding for lending programme
Central bank avoids taking rates negative but says the policy remains an option
Global dollar liquidity ‘robust’ in face of Covid-19 – BIS data
Dollar credit to emerging markets passes $4 trillion mark as lending to non-banks rises
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
BIS tracks $1.1 trillion drop in cross-border claims
Lending surged and then fell back as banks reallocated funds during the Covid-19 crisis