Financial Stability
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail; and more
Carney warns Germany and France of Brexit derivatives cliff edge
BoE governor says it is in the “interests” of EU countries to ensure contract viability ahead of Brexit
ECB shuts down Latvian bank involved in Rimšēvičs affair
Small lender's owner accused central bank governor of extortion and sued regulatory authorities
PBoC goes back to open market operations
Official figures show sharp drop in new loans extended by Chinese banks in July
RBNZ publishes debt-to-income dataset
Data provides insight into how households might react to a financial shock, central bank says
Nigerian president tells central bank to stop funding food imports
Consequences of Buhari’s order are unclear but Nigeria imports large quantities of food
China will need more stimulus if trade tensions rise – IMF staff
IMF staff say China’s financial system still has “elevated” vulnerability
Bank of Finland paper studies impact of China’s credit channel
Monetary policy’s effects on credit have significant impacts on economic activity, researchers say
Central banking’s 30-year cycle
Central banking has hit another crossroads, writes Central Banking founder, Robert Pringle
ECB criticises Polish draft law on mortgages
Proposal would harm banks’ financing ability and hinder emergence of securities markets
Slovenian central bank reports good stress test results
Central bank has had long-running dispute with government over bank bail-ins
IMF has no back-up plan to Fed swap lines
Financial counsellor says no plans in the works for emergency dollar funding backstop
IMF warns Zambia over risks
Country must act fast over rising debt to prevent “disorderly” fiscal adjustment, IMF board says
BDF paper presents model for larger stress-tests
Model can be used to analyse impact of macro-prudential measures, authors say
ECB paper models eurozone’s vulnerabilities
Model can be used to predict build-up of major macroeconomic imbalances, researchers say
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
IMF’s financial counsellor talks about efforts for the fund to craft well-targeted policy guidance
London to remain major financial centre despite Brexit
Research at the Central Bank of Ireland highlights the “premium” the UK capital enjoys over other cities
Barbadian reforms are strengthening economy, says central bank
Annual report says IMF programme beginning to prove effective
IMF extends deadline to implement increase in quotas
Executive board allows members to consent to and increase their contributions until December 27, 2019
The great wave: global liquidity in a turbulent world
Global imbalances are growing, and it is unclear whether the world’s institutions have enough firepower to respond to a crisis, writes Daniel Hinge
Bank of Spain study looks at growing rental market
Stagnant incomes, regional disparities and falling loan-to-value levels are pushing growth in renting
European bank capital to rise by €135bn to meet Basel III
Minimum capital requirements would increase on average by 24.4%, says the European Banking Authority
RBNZ publishes new FMI regulation bill
Proposal would enhance central bank’s ability to hold market participants to binding standards
Book notes: Shadow networks, by Francisco Louçã and Michael Ash
While not all central bankers will read this book, the problems it presents should not be left to politicians to solve