Central Banks
Nigerian central bank clamps down on alleged FX breaches
Local media reports bank accounts for 38 firms were blocked as currency remains under pressure
RBA reserves decline sharply during Covid-19 crisis
Official reserves declined from $46.7 billion in March to $33.5 billion in August
People: African Development Bank president re-elected for second term
AfDB president gets further five years as chief; Burundi and Guinea appoint vice-governors
Lower financial literacy linked to crypto asset ownership – Bank of Canada
New cash survey shows financial literacy is positively associated with crypto asset awareness
Competition has varied impact on bank risk – BoE paper
Quantile regression gives more detailed picture than earlier studies, authors say
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
BIS paper studies lifecycle of zombie companies
Number of zombie firms has risen substantially, and their future prospects are not good, authors say
IMF praises Georgia’s non-bank overhaul, but says issues remain
“Issues and challenges” could still threaten the sector’s viability, fund staff warn
Costa Rica launches new conditional lending facility
Banks can receive funding on the condition they submit lending plans to the central bank
Knot warns deviations from global standards must be temporary
“If the US starts distancing itself from international standards, that is quite something,” says Dutch central bank chief
MAS ramps up liquidity support
Financial sector will have increased access to Singapore and US dollar funding
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, Stephanie Aaronson says
Influential Fed economist Thomas Laubach dies
Current and former Fed officials pay tribute to the US central bank’s German influencer, who died on September 2
Brazil launches new 200 real banknote as hoarding continues
New banknote worth $37 features new security features, and has been sized to ensure quick dispersal
Alternative funds play key role in spreading shocks – study
Spillovers rose dramatically during Covid-19 stresses, authors find
ECB should scale back monetary stimulus after crisis – Weidmann
Knot says central bank should adopt symmetry in the implementation of PEPP purchases
Judging scarcity of reserves depends on Treasuries outstanding – paper
Increase in short-term Treasuries causes money markets to behave, as there is a scarcity of reserves, researchers find
Broadbent dismisses concerns over monetary financing
High debt and aggressive easing do not equate to monetary financing, says BoE deputy
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
‘Strict inflation targeting is past its expiry date’ – Klaas Knot
DNB president stresses the limits of central banks’ ability to micromanage inflation
2019 a bumper year for coins – RBNZ data
Over 120 million coins were minted for New Zealand’s central bank last year