Liquidity
Bank failure déjà vu
New bank capital rules were meant to ensure failures would be less frequent and resolution not involve taxpayer money. Then came the collapse of Silicon Valley Bank and Credit Suisse, writes Jesper Berg
Rate risk under Pillar 2 left ‘hole in the system’ – Ingves
Former Basel chair says rate risk “probably” should fall under Pillar 1; greater focus needed on liquidity rules
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
Thugge confirmed as next Kenya governor
President’s adviser gets parliamentary approval and calls for dollar bonds to boost reserves
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
Dominican Republic cuts key rate by 50bp
Central bank expects headline inflation will have returned to target in May
IMF considering Liechtenstein application
European microstate could become 191st member of fund
Sarb sounds alarm on sanctions risk
Central bank says country could face financial isolation if US thinks it arms Russia
BIS’s Restoy warns of limits to deposit insurance reform
Better use of supervision could solve many issues without deposit insurance reform, official says
Central banks should abandon floor systems – BIS’s Borio
Abundant reserves are causing distortions and could hamper policy-making, economist says
NY Fed and MAS test distributed ledger CBDC payments
System averaged 6.48 payments a second, with peak of 47 payments a second
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars
Fed’s Bowman defends regulatory ‘tailoring’
Governor calls for independent review of SVB collapse, dismissing Barr report
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
Supervisors should take action on interest rate risk – BIS paper
Core regulation alone will not neutralise all current risks, Financial Stability Institute says
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
Defaults, reduced growth and less lending ahead, Fed says
Recent bank failures were caused by poor risk management, report finds
Another financial crisis hiding in plain sight
Steve Kamin analyses how the risks that sank SVB were plain enough to those who looked for them
Fed report admits errors in SVB oversight
Report takes aim at regulatory easing during Trump era
First Republic Bank at risk of collapse after deposit flight
Shares in US bank plummet as scale of outflows becomes clear and rescue options remain obscure
Asset purchases stopped mutual fund crisis, ECB paper finds
ECB’s emergency purchases in Covid-19 pandemic prevented asset fire-sale spiral
BoE prepares shake-up of UK deposit insurance
Proposals aim to boost efficiency of payouts, as Bailey hints limits could be raised