Central Banks
BoE looks to fix flaws in funds’ use of swing pricing
Central bank finds some funds overestimate the liquidity of their assets
Federal Reserve to end payout caps for better-capitalised banks
Fed will lift limits on payouts and buy-backs for banks passing stress tests on capital levels
Riksbank to open two contingency cash offices
Offices will be opened this year and next to guard against disruptions to cash supply
Book notes: Economic philosophies, by Alessandro Roselli
Roselli’s analytical and historical exploration is especially valuable now, writes Robert Pringle
Czech governor rebuffs PM over government dividend
Rusnok publicly tells prime minister that profits must be used to rebuild CNB’s buffers
Myanmar central bank fines lenders over protests – reports
Authorities attempt to force private banks to reopen as strike campaign continues, reports say
PBoC and Swift to offer cross-border payments services
Joint venture will set up local network and data centre to support financial messaging, PBoC says
Bank regulation can ease non-bank distortions – BIS paper
Authors challenge common narrative that bank regulation can worsen non-bank instability
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
Fed to launch new committee on climate risk
Brainard says body will focus on systemic dangers and warns hazards are hard to forecast
Funds’ synthetic leverage should be monitored – Bundesbank paper
Researcher presents new method for assessing one type of risk-taking by mutual funds
IMF cautions Marshall Islands on digital currency plans
Institutional framework to accommodate the sov is not ready, fund says
People: Central Bank of Brazil deputy governor resigns
Jens Weidmann gets new term at BIS; Rwanda appoints deputy; and more
Wholesale CBDCs may not fix cross-border frictions – panellists
Policy-makers question whether CBDCs will make international payments faster and cheaper
Bundesbank paper looks at German inflation expectations
Social media forms less realistic picture of current price levels than traditional news – researchers
Central Bank of Barbados’s first governor dies
Blackman helped to introduce dollar peg and pioneered transparency
ECB weekly asset purchases raised to €21.1 billion
On March 11, central bank promised to conduct purchases “at a significantly higher pace”
Turkish president fires third central bank governor in a row
Former politician becomes governor days after MPC raises rates; lira falls sharply
Fed chair’s tone of voice impacts stock prices – NBER paper
Study uses deep learning to study variations in tone, finding stocks respond but not bonds
Lagarde highlights uncertain outlook due to vaccination
ECB ready to adjust policy tools to ensure inflation increases towards target
China appoints two new PBoC policy members
PBoC gets two new monetary policy members as IMF warns of rising stability risks