Central Banks
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
Bank of Mexico cites ‘major challenges’ as it cuts rate
Policy-makers focused on maintaining “room for manoeuvre” as inflation risks evolve
China's reserve manager may be buying government debt
PBoC not buying government bonds, but reserve manager may have sharply increased holdings
Boston Fed and MIT collaborate on digital currency research
Research results on software architecture will be released as open source
Book notes: Radical uncertainty, by Mervyn King and John Kay
The one certainty we have faced is that we have to confront uncertainty, which is precisely the point of this wonderful book
ECB paper looks at Bayesian nowcasting
BVAR models have several advantages over Dynamic Factor Models, researchers say
Indonesia eyes netting changes to enable derivatives CCP
Central bank says legal amendments will pave way for locally cleared NDFs and interest rate swaps
Chinese state-run banks start testing PBoC’s ‘e-wallet’
Four biggest state banks trialling payments system for PBoC’s “digital yuan”
BIS economists test fixes for credit-to-GDP gap
Measure has drawbacks as early warning sign, but proposed solutions have problems, authors find
People: RBNZ and Bank Indonesia appoint new deputy governors
Crane Currency names new president; Tainui-Hernandez and Joewono take up deputy governor roles
Covid-19: a watershed moment for China’s BRI?
China faces a delicate balancing act when it comes to forgiving and restructuring Belt and Road Initiative debt while preserving the soundness of its financial institutions
LTV ratios need reform, ECB paper argues
Macro-prudential tools must now apply to real estate funds financed by non-bank loans – researcher
Fed picks G+D to develop ‘next-generation’ currency processing
German firm developed new prototype for the Fed to maximise speed and accuracy
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
New Fed discount window could ease bankruptcy crisis – researchers
Many companies may not endure a further liquidity shock
RBNZ boosts asset purchases and prepares new policies
Negative rates and funding for lending programme under “active preparation”
Computing platforms for big data and AI
Implementing big-data and high-performance computing platforms is critical to support machine learning applications. Rafael Schmidt and Bruno Tissot offer insights on developing a comprehensive information strategy