Financial Stability
Fed moves to ease commercial paper strains
Commercial paper market under “considerable strain” due to coronavirus-related uncertainty, Fed says
Nigerian central bank announces emergency measures
CBN will fund healthcare expansion and guarantee loans, and says currency will not be devalued
Central banks grapple with dollar funding crunch
Indicators of stress hit highest levels since global crisis; dollar backstops may soon be tested
Authorities struggle to find staff with fintech skills – William Coen
Regulators should concentrate fintech firms’ risk and governance approaches - former BCBS secretary
Croatian central bank starts bond-buying programme
HNB also holds repo auction and may relax banks’ capital buffers in response to coronavirus
ECB strongly criticised by French and Italian leaders
Lagarde’s words spark Italian anger while Macron says first ECB measures are not sufficient
Central banks step up liquidity support
RBA, Bank of Canada, Norges Bank and Riksbank all increase their liquidity interventions
Covid-19 will not delay World Economic Outlook – IMF’s Rice
Communications director says reports will be published as normal
Fed to flood repo market with up to $5.5 trillion
NY Fed unveils substantial liquidity package as analysts warn massive market disruption is possible
ECB lowers capital levels as EBA postpones stress tests
Coronavirus response sees ECB loosen limits for largest banks while EBA calls for supervisory flexibility
Cannabis industry causing problems for Caribbean finance - ECCB
Industry could lead to further de-risking efforts from foreign banks, central bank warns
Bank of Spain paper looks at macro-pru and growth at risk
Financial cycle, time elapsed and type of measure has major impact on effectiveness – researcher
PBoC takes on regulation of key financial infrastructure
Chinese central bank to take bigger role in regulation as China seeks to improve financial infrastructure
Coronavirus policy responses raise financial stability threat – IMF official
Policy-makers must be alert to threat of rapid liquidation of risky assets, Tobias Adrian says
Russian central bank responds to virus and oil shocks
Bank of Russia announces liquidity boost and new risk weighting for companies hit by coronavirus
Financial crises harm innovation – BIS paper
Loss of access to bank credit can harm research spending for more than 10 years, study finds
FCA consults on new climate risk disclosures
Firms will have to publish disclosures or explain why not
RBI prepares rescue plan for failed bank
State Bank of India agrees to help rescue Yes Bank, which remains under “moratorium”
Carney sets out ‘grand unifying theory’ of macro-pru
Loss function for financial stability echoes format of Taylor rule, but requires much more judgement
Senior Moldovan central bank officials arrested
Central bank expresses “deep concern” over arrests and calls for impartial probe into 2014 fraud
OECD supports swap line use in Covid-19 response
Adequate liquidity must be provided to prevent bankruptcy should cashflow issues arise – report
IMF makes $50 billion available to fight coronavirus
Kristalina Georgieva calls on IMF members to “fully recharge” catastrophe fund
Fed unveils new capital regime to criticism from Brainard
Federal Reserve says new rules will maintain capital levels, but senior official calls them “imprudent”
UK regulators checking firms’ virus contingency plans
Firms can use alternative sites or let staff work from home so long as regulatory obligations are met