Liquidity
Corridor, floor, other: are operating frameworks fit for the future?
Central banks are becoming uncomfortably aware that monetary operations have ramifications well beyond setting short-term rates
CCPs’ stress-test results have improved, BoE says
UK institutions can absorb default losses and maintain liquidity better than in 2021–22, regulator says
BoE’s Hauser makes case against ultra-lean balance sheets
Even with central bank backstops, markets are not reliable liquidity managers, official says
Claudio Borio on financial cycles, operating frameworks and non-bank reform
The BIS veteran highlights a ‘unique constellation’ of challenges as central banks travel the ‘last mile’ in bringing down inflation – and says there are many more miles to go on non-bank reform
The predicament of bloated central bank balance sheets
Swollen balance sheets carry significant risks for combating inflation, ensuring financial stability and preserving central bank credibility, independence and effectiveness. How can central banks reduce them?
Riksbank to offer counterparties new liquidity and deposit facilities
Measure aims to prevent volatility in overnight market rates as central bank reduces liquidity
Buy side reflects on BoE’s gilt liquidity lifeline
Lending facility could prevent repeat of last year’s LDI crisis if properly designed, pension and insurance experts say
Default fears loom over Country Garden
The Chinese developer reportedly missed a final deadline to repay $15.4 million in interest
Carstens: Regulatory performance during banking crises was ‘mixed’
BIS general manager emphasises role of supervision in preventing bank failure
Liquidity impacts monetary policy transmission – BoE paper
Hedge funds play key role in transmission at longer maturities, authors find
Rate hikes: too much, too late – and now too dangerous
Why monetary tightening risks a global credit crunch
Soma manager predicts transition success for US reserves
Roberto Perli said short-term funding markets will likely not see significant disruptions
Basel III implementation is behind deadline, says committee
Only a third of member jurisdictions have adopted standards
BIS wraps up cross-border CBDC trial
Project Mariana explored FX settlement using ‘automated market-makers’
BoE begins work on non-bank emergency backstop
Central bank planning to roll out facility to insurers and pension funds as first step
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
Basel III capital shortfall narrows but liquidity ratios fall
Average capital ratios returned to pre-pandemic level in December 2022, Basel Committee says
Stress-testing the banking system: what lies ahead?
Pedro Duarte Neves says stress tests must evolve to capture systemic, liquidity and cyber risks
SNB surprises markets by holding rates at 1.75%
Swiss central bank to allow all banks to use mortgages as collateral to access liquidity
Basel Committee will look at interest rate risk and liquidity reforms
Pablo Hernández de Cos says more analysis needed on minimum capital for interest rate risk
Philippine central bank shifts to variable rate repo auction
BSP says move will improve policy transmission but does not change its policy stance
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Non-banks taking on significant ‘hidden leverage’, FSB warns
Off-balance-sheet positions have grown, but data on many parts of the system is poor
IMF paper offers ‘complete set of tools’ to model reserves demand
Authors say theirs is the first complete modelling framework for reserves demand