Liquidity
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
Bolivian officials say reserves problem is temporary
Central bank sells SDRs as dollar scarcity and legislative gridlock persist
‘Back to the future’ for FX reserve management
Rise in bond yields changes the dynamics of ‘security, liquidity and return’, writes Gary Smith
Bailey raises possibility of setting bigger liquidity buffers
BoE governor says “we can’t assume” current buffers are still appropriate
US Treasury releases defi risk assessment
Lax adherence to AML/CFT requirements allows criminals to launder money
US banks still vulnerable to interest rate risk, IMF warns
“Supervisory lapses” appeared to be a factor in recent collapses, as many institutions remain exposed
Central banks need non-bank liquidity ‘toolbox’, says IMF
Fund says central banks should act as lender of last resort to systemically important non-banks
BoE paper explores ‘anatomy’ of gilts crisis
Detailed account of crisis reveals contagion, concentrated risk and role of wider market players
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
SVB collapse threatened banks across the US – Fed’s Barr
“Full extent” of bank’s vulnerability was not clear to supervisors until the run, vice-chair admits
UK banks insulated from wider troubles, BoE says
Financial policy committee “closely monitoring” events but says capital and liquidity are sufficient
Bailey says investors ‘testing’ banks for weakness
UK banks not facing same issues as SVB US or Credit Suisse, BoE governor says
Georgieva warns of increased risks to financial stability
Action by policy-makers has only eased stress “to some extent”, IMF chief says
Yellen flags ‘contagious bank run’ risk
US Treasury secretary pledges small banks will gain 100% deposit insurance if needed
Lifetime achievement: Stefan Ingves
Modest man from the Finnish ‘boonies’ has had a major impact on international central banking
ECB hails launch of new wholesale settlement system
Eurosystem’s new RTGS system and liquidity management tool went live on March 20
How Finma milked Credit Suisse’s CoCos to close UBS deal
An unusual clause in Swiss AT1 bonds allowed them to be written off, but could others ever follow suit?
Central Banking Awards 2023: third group of winners announced
Awards include economic research, payments reform and risk management services