Financial Stability
IMF needs new tool to deal with pandemic – former officials
Current programmes place too much emphasis on adjustment, two ex-officials argue
UK’s tough legacy fix spells trouble for US Libor transition
FCA will have little control over how synthetic Libor rates are used in other jurisdictions
Female workers badly hit by pandemic job losses – IMF economist
Lower-paid workers hit hardest both by 2008 recession and slump caused by pandemic
IMF lifts limits on financial support facilities
Decision provoked debate among board members on whether fund should be taking additional risk
FSB study finds quantifying climate risks is still a challenge
Stocktake finds many jurisdictions integrating climate risks into their frameworks, but progress varies
BIS’s Borio says policy buffers should be repaired as soon as possible
Economist highlights three long-term challenges to tackle post-coronavirus
Kenya’s central bank looks to regulate digital lenders
Legislation before government could help central bank control high lending rates on digital products
How vulnerable are EMEs to renewed Covid-19 turbulence?
Emerging markets face pressures from the health crisis and global financial forces, says Steve Kamin
Dealer capacity tightened significantly in March – Fed research
US primary dealers’ capacity to absorb Treasuries fell by 17% in March, economist finds
BIS paper studies early form of macro-pru policy
Dutch controls on credit from 1960s to 1990s helped promote stability, authors find
Yellen and Bernanke call for Treasury market reform
March's market gyrations demand close look at infrastructure and regulatory framework, former Fed chairs say
Q&A: New York Fed’s Stiroh on climate change and Covid
Co-chair of Basel task force discusses possible supervisory approaches to climate risk
IMF suspends country assessments until April 2021
Resumption of assessments will need to be “gradual” and undertaken flexibly, says fund
ECB expands euro repo network
Albania and Serbia join Covid-19 liquidity backstop
Confusion over Nigerian central bank’s exchange rate policy
Finance minister says rates will be unified while reports say real value of currency is falling
Bank of Greece proposes ‘bad bank’ for NPLs
Covid-19 may worsen the highest ratio of non-performing loans in the eurozone, central bank says
Chinese banks’ dollar needs are large but unclear – BIS research
Swap lines meet most banks’ dollar needs, but firms may still struggle to access dollars, authors warn
Credit-to-GDP gap is not reliable systemic risk indicator – research
Composite measure of financial cycle works better for most G7 countries, says Bundesbank paper
HKMA sets new Libor transition milestones for banks
Risks from benchmark reform continue to build up in the banking system, HKMA warns
CPMI launches plan to boost cross-border payments
Policy report envisages public-private partnership to break down obstacles to global payment flows
Sri Lankan governor obeyed president’s call for credit easing – reports
Central bank closes down two more deposit-taking institutions in signs of further strain
State guarantees helped prevent drop in business loans – ECB survey
But credit standards to households tightened further, as higher NPL ratios hamper credit provision
Banks used TLTRO to convert less liquid assets – ECB paper
Researchers say that broad collateral standards for first TLTRO series played important role
What makes for good financial supervision?
The Wirecard debacle has led to calls for more effective oversight