Liquidity
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Non-bank growth pushes global financial assets to new peak
Riskiest forms of shadow banking are growing faster than other areas of finance, FSB data shows
PBoC increases liquidity support as slowdown increases
Retail sales and property prices fell further in November while investment and production slowed
BoE to stress-test non-bank sector for first time
“Exploratory” exercise will test market liquidity as officials call for “urgent” action on non-banks
IMF and Ghana reach initial agreement on $3 billion loan
Stricken country preparing domestic debt restructuring
The canary in the goldmine
Gold accumulation may herald broader concerns about dollar holdings, writes Jennifer Johnson-Calari
Proportionality in bank regulation: striking the right balance
The ‘final’ Basel III framework contains elements designed to make the rules fairer while reducing regulatory arbitrage. This means careful analysis is required when making any proportionality adjustments in the EU single rule book, writes Maurizio…
The ECB’s collateral conundrum
A lack of high-quality collateral in the eurozone has resulted in money market rates lagging ECB policy rates, hampering monetary policy transmission
Gilts debacle exposes financial stability risks
Lurking leverage in liability-driven UK pension investments raises important questions for central bankers
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias
China cuts reserve requirement ratio for banks
Change to ratio will release funds for banks to help hard-hit industries, says the PBoC
Balance sheet policy needs rethink, economists say
BoE chief economist says central banks should focus more on risks of assets they buy
BIS paper finds reserves scarcity even during QE era
Banks still relied heavily on incoming payments to replenish funds, researchers find
Eurozone banks’ TLTRO repayments are below market expectations
Slow pace of repayments may hamper ECB policy normalisation, some analysts say
The long road to 24-hour RTGSs
Extended hours would help international payments but some central banks challenge the business case
PBoC keeps key lending rate unchanged
Central bank sticks to accommodative policy as China faces slowdown
FTX collapse: what went wrong?
Regulators close in as downfall of major exchange rips through crypto sector
Non-banks in focus as G20 leaders meet in Bali
FSB calls for action on liquidity mismatches and “hidden leverage”
Chinese regulators throw lifeline to struggling developers
Hong Kong-listed mainland property stocks surge as banks told to offer loan extensions
Vietnamese governor tries to calm fears over banks
Nguyen Thi Hong says banks face liquidity bottlenecks and falling currency is causing pressure
Liquidity dependence may hamper QE exit
Expanding reserves may prove perilous for financial stability, with maximum danger during QT, writes Viral Acharya
SNB withdraws record sum from Fed’s swap line
Swiss central bank taps $11 billion but reasons for its operations are unclear