Central Banks
SNB’s Jordan defends currency interventions
Switzerland had “difficult starting position” from which to tackle the Covid-19 shock, chairman says; negative rates have worked, he argues
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
Mena region leans on exchange rates to weather pandemic
IMF says central banks in the region have intervened in the market more than any other region
HKMA sets new Libor transition milestones for banks
Nearly all banks have transition plans but risks from benchmark reform continue to build up in the banking system, HKMA warns
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
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
Cash issuance in Botswana balloons 18% in 2019
Annual report shows banknote issuance growth for all denominations, despite rise in electronic payments
What makes for good financial supervision?
The Wirecard debacle has led to calls for more effective oversight in Europe. Andreas Dombret identifies four essential elements
Croatia and Bulgaria join ECB’s exchange rate mechanism
Both countries move closer to eurozone membership as largest Croatian banks come under SSM
After social distancing: prepare for national distancing
If the Covid-19 pandemic triggers a desire to onshore production, international capital flows will come under a new spotlight
RBI’s Das calls for legislation on resolution corporation
Several banks in India remain troubled, and Covid-19 may trigger further problems, governor says
Yaron supports Israel’s increased fiscal stimulus
Package could push budget deficit to 13% of GDP in 2020
Bank of Jamaica weighs up CCyB
Central bank outlines proposals to tackle “excessive pro-cyclicality”
Haldane and co-authors conclude QE has made UK happier
Authors use survey data to track QE’s impact on household balance sheets
Ukrainian security warns Gontareva over ‘Central Banking’ article
IMF representative voices support for central bank as ex-governor Smolii reports threats
EME financial markets are still vulnerable – BIS paper
Covid crisis has shown further market development work is needed, writes head of CGFS secretariat
Bank of Mauritius extends Covid-19 support measures
Central bank extends loan support programme and increases foreign exchange funding
European Ombudsman opens inquiry into BlackRock ESG advisory contract
Green lawmakers and NGOs say asset manager faces conflicts of interest, but firm rejects claims