Liquidity
Climate change: a new challenge for financial stability?
Do climate change and the transition to a low-carbon economy pose a risk to financial stability? What is the role of central banks?
CBRT cuts reserve requirements, but stresses tight stance
Liquidity tools are more about transmission than policy stance, says Murat Çetinkaya
IMF prepares to overhaul its financial surveillance
Fund agrees with IEO report that there is much room for improvement, but budget remains an issue
Lifetime achievement: Zhou Xiaochuan
The former People’s Bank of China governor stands out for his high levels of integrity, intellectual rigour and bold reforms that have served the public interest in China and elsewhere
ECB stress tests to focus on liquidity risk
Tests will measure systemic European banks’ “survival period” without access to funding markets
Euro outpacing dollar as cross-border credit grows
Latest BIS statistics show widening gap between credit growth in the two major currencies
PBoC denies that new liquidity tool is a ‘form of QE’
Central bank bills swap is essentially quantitative easing, says one analyst
Economics in central banking: Greg Kaplan, Benjamin Moll and Gianluca Violante
Authors’ paper, ‘Monetary policy according to Hank’, boosts the realism of core economic models, delivering important insights into inequality and the transmission of monetary policy
Risk management technology: Vermeg
Having successfully delivered the collateral management module of its Megara system to four major central banks, Vermeg has won a high-profile tender to deliver the technology for the Eurosystem Collateral Management System
Innovation prompts firms to hold more cash – IMF paper
Firms must hold enough liquidity to insure against risky research and development
Turkish central bank makes early payout to government
Extraordinary general meeting sees CBRT agree to similar actions in future
PBoC makes record fund injection into financial system
Central bank pumps 570 billion yuan into system via open-market operations; move follows other measures to increase liquidity amid slowing growth
Supervisory lessons: resolution is a ‘dirty business’
Former Bank of Spain head of supervision Aristóbulo de Juan reveals his principles for resolving problem banks in the final article of a four-part series
PBoC’s Yi defends central bank’s easing measures
Cut in reserve requirements calibrated so as not to undermine deleveraging, governor says
US interbank market may not recover from QE – Fed paper
Authors warn shrinking the Fed balance sheet might not be enough to revive the market
The PBoC’s efforts to solve the ‘impossible trinity’
Chinese central bank intervenes to manage offshore renminbi rate; uses swaps, rather than selling reserves in latest currency interventions
BoCHK set to secure role for Philippines renminbi clearing
Bilateral settlement gains importance in yuan internationalisation process; race on for Indonesia clearing licence
Causes of liquidity traps are ‘crucial’ to policy response – BdF paper
Liquidity traps caused by investor deleveraging may not respond to QE, researchers say
Fed paper examines impact of liquidity rules on dealers
Dealers changed behaviour in response to reforms, but de-risking was already under way, paper finds
Carstens warns world is not fully prepared for fresh crisis
IMF does not have the resources to act as global lender of last resort, says BIS chief
IMF urges Bank of Papua New Guinea to depreciate currency
Fund offers words of warning to island nation over exchange rate woes
Smaller banks struggle in Danish stress tests
Non-systemic lenders fall short by almost $100 million; even with intervention creditors could suffer losses, central bank says
Podcast: The global regulatory landscape
Capital rules have made the core banking system safer, but other parts of the system may still be at risk, says Andrew Metrick
FSB calls for action as regulatory deadlines pass
Mark Carney urges G20 to stay disciplined as global growth begins to fade