Central Banks
Thai cabinet confirms PM’s adviser as new governor
Monetary policy committee member to serve as next Bank of Thailand governor from September
Dutch cash payments fall sharply, DNB says
Cash payments were 30% of transactions in early 2020 but fell to 13% in April, study finds
US and German economies suffer largest quarterly contraction in decades
Official figures say second quarter saw biggest US GDP decline since the Great Depression
BoE awards Accenture RTGS overhaul contract
Consultancy firm wins contract worth up to £150 million for payments system upgrade
People: BoE governor appoints first female private secretary
St Louis Fed appoints new COO; new appointments at Kazakhstan’s sovereign fund and central bank; and more
Fed extends swap lines and warns of slowing US economy
More fiscal and monetary stimulus will be needed as cases surge in US, chair Powell said
Kansas Fed paper looks at conditional forward guidance
Date-based forward guidance would be effective without yield curve control, research says
UN says rival Libyan central banks will be audited
Central bank is depository for civil war-torn country’s vital oil earnings
Fed extends emergency facilities for three months
Move comes as US Covid-19 reported cases surge to record highs ahead of July FOMC decision
Covid-19 likely to affect return of paper £20 banknote – BoE
Central bank reports consumers are likely to hold onto old banknotes until they cease to be legal tender
Bank of Israel’s bond purchases are working – deputy governor
Andrew Abir says corporate bond purchases have eased conditions for non-financial firms
Fed’s forward guidance has significant bond yield impact – DNB paper
Researchers say data indicates that Fed managed to preserve monetary policy credibility
ECB slows down PEPP purchases
Emergency asset buying fell to lowest level since programme was launched in April
ECB extends eurozone banks’ dividend payment pause
Enria says banks face “radical uncertainty” over pandemic’s economic impact
FCA presents new design for financial services register
UK regulator says website aims to boost consumer protection and make key data easier to find
Sarb eases conditions on emergency loan guarantees
South African central bank introduces new loan types to assist uptake of the scheme
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
Thai central bank authorises facial recognition as KYC tool
Bank of Thailand says move will help reduce spread of coronavirus
Female workers badly hit by pandemic job losses – IMF economist
Lower-paid workers hit hardest both by 2008 recession and slump caused by pandemic
Structural changes may increase dollar funding strains – IMF paper
Some emerging markets still face “significant funding pressure”, researchers find
Chile and China expand bilateral swap line
Central banks more than double size of swap line and expand scope of use
Bank of Russia cuts rates to record low
Governor argues monetary stimulus will offset fiscal consolidation efforts in 2021–22