Financial Stability
Turkish central bank tightens reserve regime for lenders
Central bank will also penalise lenders with high levels of foreign-denominated accounts
BoE paper finds benefits from swing pricing
Cost-benefit analysis suggests net benefit to curbing non-bank liquidity risk through swing pricing
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
G20 creates fund to guard against future pandemics
WHO says there is a $10.5 billion annual funding gap
Do CBDCs make sense for Latin America?
Steven Kamin says CBDCs may be particularly beneficial to emerging market economies
Russia-Ukraine war revealing financial vulnerabilities – FSB’s Knot
Commodities markets, leverage and cyber attacks “warrant further attention”, says FSB chair
War forcing central banks into ‘delicate balancing act’, says IMF
Sudden repricing of risk could expose vulnerabilities, fund says in latest stability report
PBoC announces policies to help pandemic-stricken economy
Package of 23 measures echoes actions taken in 2020
IMF launches vehicle for SDR transfers
Fund’s aim for $45 billion in transfers seems to fall short of earlier ambitions
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
Sri Lankan central bank postpones sovereign debt repayment
Weerasinghe leads MPC in raising rates by 700 basis points and appeals for funds from overseas
Russian central bank cuts interest rate and lifts some restrictions
Effect of sanctions on Russian economy unclear, commentators say
IMF promises $3 billion financing for Lebanon but demands reforms
Deal depends on monetary policy and central bank reform, as well as banking clean-up, IMF says
Inflation is more painful for the poor, says Brainard
Fed official joins wider discussion about measurement and impact of inflation
Chinese draft law sets up financial stability fund
New government committee would oversee financial stability as concerns grow
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
ECB praises eurozone’s economic response to Covid-19
EU capital markets need to deepen to allow green and digital transformations, ECB says
Sri Lankan president appoints governor criticised over ‘bond scam’
New governor was accused of negligence by judicial inquiry over conduct in financial wrongdoing
Dallas Fed research says housing bubbles are ‘brewing’
Housing price expectations may have unanchored from fundamentals, paper finds
Sri Lankan governor resigns amid massive economic crisis
Finance minister also quits as crowds demonstrate against power cuts and food price rises
UK authorities investigating LME over nickel trading suspension
Regulators to probe governance at the metals exchange after “disorderly” conditions halted trading
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
BoE’s Cleland calls for innovation in wholesale payments
Wholesale payments suffer from inefficiencies despite being critical to financial stability, official says
European authorities freeze Lebanese governor’s assets
Riad Salameh one of “five main suspects” subject to €120 million asset seizures, say prosecutors