Reserves
Dollar crunch eases as central banks step up swaps action
Core swap recipients will offer daily dollar auctions; cross-currency basis narrows
Norges Bank sharply increases foreign exchange sales
Central bank converts oil revenues into krone to finance government’s coronavirus response
Banks rush to tap new dollar liquidity facilities
IIF warns of major capital flight from emerging markets as demand for Fed-backed repos surges
Central banks grapple with dollar funding crunch
Indicators of stress hit highest levels since global crisis; dollar backstops may soon be tested
PBoC injects $79 billion into virus-hit economy
Targeted RRR cut encourages smaller banks to lend to SMEs; more easing steps expected to stabilise economy
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
Do low rates spur investment?
Many believe low interest rates spur investment, but there appears to be little hard evidence to support such claims, writes former IMF head Jacques de Larosière
Why Bulgaria needs to deepen its currency board
The BNB’s currency board rules should be extended to transaction deposits at commercial banks, which could in turn issue digital currencies, even in the event of euro adoption
Bulgaria: long live the currency board
Bulgaria should reject the euro and extend its currency board to cover bank deposits
Central Banking Awards 2020: the winners
All the winners in the 2020 Central Banking Awards
Global markets award: HSBC
The UK-headquartered bank is a leader in green finance and helped its clients navigate the low-rate environment over the past year
Fed’s repo tapering plans hit snag
Banks demand double what was on offer at Fed’s first reduced repo offering
Central Banking Awards 2020: second group of winners unveiled
Prizes awarded for governor, reserve management, green initiative, asset manager and custody
Asset manager of the year: Amundi Asset Management
The French asset manager helped reserve managers meet ESG criteria while also boosting central bank assets under management
Central bank of the year: Bank of Ghana
The African central bank has carried out extensive reform of Ghana’s banking sector
Risk manager: Central Bank of Brazil
The G20 central bank has made important breakthroughs in applying ERM
Financial market infrastructure services: Bloomberg
The US company has helped central banks improve monetary operations and deepen forex markets by scaling up technical infrastructure and database monitoring capabilities
SNB reduces risk exposure in fixed-income investments in Q4
Foreign currency investments decline by over 10 billion francs in December
Fed leaves monetary stance unchanged but tweaks IOER
FOMC also announces updated plans on its balance sheet and repo market interventions
Optimal US reserve regime is between scarcity and abundance – research
Former NY Fed official Simon Potter and co-authors map post-crisis demand curve for reserves
Cyber attack could freeze liquidity in US financial system – NY Fed paper
Attack on one bank could affect more than a third of banking system’s assets, researchers warn
Central banks must take lead on climate disclosures – PBoC’s Ma
Reserve managers’ stances send important signals to the financial community, says Ma Jun
Colombia culls external reserve manager to boost competition
In the period 2016-18, central bank reduced the number of institutions to six from seven
Fed slims down repo market interventions
Relative to year-end, the Fed will cut $250 billion of the cash offered to banks