Liquidity
Russia’s cashflow problem
Citizens increasingly rely on hard currency as military spending places strain on banking system and economy
Most central banks have plenty of import coverage
There is little common ground between respondents at high or low levels of coverage
Bangladesh Bank launches loan scheme to boost agri sector
Borrowers will pay no more than 7% interest under scheme
Bank of Canada extends rate hold as trade war intensifies
Macklem says surprise uptick in growth is fragile thanks to new US tariffs and high petrol prices
Ample reserves can yield highest welfare – BoE paper
Central banks face trade-off between financial stability and resource misallocation, author says
Tokenisation could help integrate eurozone markets, says Schnabel
Central bank money must move ‘on-chain’ to safeguard its role
Bailey warns AI could crash global financial system
FSB chief warns of cyber security risks and threats from leveraged investments in technology
Central bank reserve managers unnerved by Treasury market woes
Officials are unsettled but constrained as US creditor base shifts to private hands
Tonga holds rates amid ongoing monetary policy reform
Pacific island’s central bank says inflation is running hot due to external price shocks
Low inflation depends on sound markets – SNB’s Martin
Bank’s vice-chair argues monetary policy and financial stability ‘reinforce each other’
Colombian reserve requirements impact settlement timing – paper
Cut contributed to ‘pronounced shift’ towards late-day settlement, authors say
Book notes: The almighty dollar, by Brendan Greeley
The history of the currency that came to be ‘the dollar’ is the centrepiece in an otherwise confused book
Visa joins MAS’s Bloom
Payments router announces participation in multi-currency tokenised deposit and stablecoin project
RBA says supply of reserves is still higher than demand
Transition from central bank-driven approach towards market-led system is ongoing, official says
IMF paper details system-wide stress-testing methods
Economists propose adding data on bank-NBFI links and details of market microstructure
US Treasury doubles long-term bond purchases
Treasuries with 10–20 and 20–30-year maturities to be bought at $4 billion 'per operation'
Europe’s stability at risk if AI bubble bursts – ECB blog
Correction could freeze functioning of continent’s financial markets, say central bank economists
Market reforms are about boosting policy transmission, says CBN
Changes brought in by Nigerian central bank enable individual investors to participate in OMOs
ECB finds gaps in geopolitical stress-testing frameworks
Current methods fail to properly capture impact of geopolitical stress on liquidity
SNB welcomes ‘too big to fail’ reforms
Switzerland moves to close Credit Suisse-era gaps with new banking regulations
Guinea taps IMF funding as it prepares major mining project
Central bank is expected to implement governance and transparency reforms