Risk
Tensions flare between policy-makers over US Treasury reform
SEC’s proposed rule-changes have “ruffled feathers” at Treasury department
Chile renews IMF flexible credit line as risks grow
Months after ending the previous facility, Chile has reactivated it
Two rural banks in China’s Liaoning province go under
Regulator says the banks were involved in illegal operations
Banks shock commodities by 1,000% in stress-test rethink
Energy price spikes force clearing firms to consider extreme or even ‘implausible’ scenarios
Book notes: The Fed unbound, by Lev Menand
Instead of the Fed expanding its tasks to meet shadow banking needs, this book calls for charter-like oversight of NBFIs
Is money growth really the main inflation culprit?
Jakob de Haan and Jan-Egbert Sturm take a closer look at inflation in the eurozone and Switzerland
The PBoC, real estate debt and financial stability in China
Central bank policy-makers are restricted in terms of capacity and space by their efforts to manage the nation’s property bubble amid declining growth
Rates round-up: Argentina adds 950bp to main rate
Central banks in Argentina, Peru, Rwanda, Serbia and Uganda tighten policy
‘Very little support’ for a US Treasury clearing mandate – Isda
Dealers and clients prefer carrot to stick in efforts to improve Treasury market liquidity
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
BIS report highlights challenge of modelling green reserve portfolios
Survey of central banks finds legal mandates and liquidity make green reserves management difficult
Central Bank of Oman warns of climate risks to financial stability
Physical and transition risks identified in the oil-exporting country
South Africa risks FATF sanction as legacy of state capture endures
Central bank finds thousands of bank clients have missing citizenship and incorporation data
Eurozone needs macro-prudential tools for climate change, says ECB
Regulators are struggling to address climate change risks, joint ECB-ESRB report finds
DNB officials propose framework for central bank capital
Study offers central banks a guide to the complexities of latent risk and independence
Monetary Policy Benchmarks 2022 report – a pandemic legacy
Benchmarks data offers insights into how Covid has impacted policy frameworks, plus governance, market operations and policy transparency
Knot says financial stability risks are growing
FSB chair says emerging economies are particularly vulnerable as financial conditions tighten
Modelling the short-term economic impacts of climate change
Econometric models can give central banks a clearer picture of short-term climate impacts, says Stephen Millard
Nagel lays out conditions for ECB anti-fragmentation instrument
Bundesbank president says it should be temporary and only used in “exceptional circumstances”
BoE flags global risks in ‘opaque’ commodities market
LME disruption reveals “highly leveraged” participants within financial system
Central banks should take on more credit risk during stress – BoE paper
Research claims generous credit terms can be more efficient than cutting the risk-free interest rate
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
Non-bank access to RTGS systems still rare
Only a handful of central banks allow non-bank users