Financial Stability
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed chief supports average inflation targeting and worries about Treasuries market and non-bank regulatory weakness
Experiment finds bonus caps can reduce risk-taking
BoE paper says bonus caps can work, in contrast to earlier work
IMF staff present details of Afghan deal
Proposed deal does not mention controversy over suspensions of central bank officials
MAS launches campaign to boost Singaporeans’ financial resilience
Central bank starts programme in bid to help people manage challenges posed by Covid-19
NBIM sees sharp swings in oil fund returns
Dramatic loss in Q1 nearly matched by big profit in Q2
‘Big Tech’ firms could harm financial stability – DNB paper
Technology firms’ data access could lead to their dominance of some markets, researchers warn
South African governor warns against QE
South Africa is not near deflation and QE would harm stability, governor warns
Iranian central bank pledges oil-based bond issue
Central bank makes large foreign exchange intervention as currency comes under pressure
China's reserve manager may be buying government debt
PBoC not buying government bonds, but reserve manager may have sharply increased holdings
BIS economists test fixes for credit-to-GDP gap
Measure has drawbacks as early warning sign, but proposed solutions have problems, authors find
Covid-19: a watershed moment for China’s BRI?
China faces a delicate task as its restructures debt while striving to preserve the soundness of its banks
LTV ratios need reform, ECB paper argues
Macro-prudential tools must now apply to real estate funds financed by non-bank loans – researcher
Bundesbank paper examines stress-test models
Authors present a method to investigate how well stress tests predict bank failures
New York Fed paper examines MBS price dislocations in March
Flight to safety and dealer balance sheet constraints widened cash-forward basis, researchers find
Lebanon aid depends on reform – IMF
Georgieva sets banking bail-in and further audit of central bank as conditions for emergency aid
IMF urges broad shake-up of US financial stability framework
Rapidly changing financial landscape poses challenges for the complex oversight framework, IMF says
Taiwan central bank open to more onshore insurer FX hedging
Central bank suggests lifers can use onshore swaps to hedge dividends, but some warn it could hit NDF market
Fed rejects bank appeals against stress-test results
Goldman Sachs remains in top spot for overall requirement, as Fed reveals stress capital buffers
BoE paper outlines ‘capital flows-at-risk’ framework
Methodology allows researchers to explore full distribution of “push” and “pull” effects on capital flows
Lithuanian central bank welcomes anti-money laundering centre
Inter-agency centre will involve finance ministry, tax authority, banks and law enforcement
Lebanese central bank orders interest-free loans after explosion
Move comes despite banking sector lacking dollars and reports of massive capital shortfalls
Emerging markets face ‘uphill battle’ against pandemic – IMF staff
EME countries face limited fiscal space and possible solvency crisis, warn researchers
Australian central bank cuts growth and jobs forecasts
RBA forecasts 10% unemployment by year’s end as official says recovery will be ‘uneven’