Central Banks
NGFS offers concrete next steps to assess climate vulnerabilities
New climate risk scenarios will be incorporated into Bank of England stress tests and Bundesbank economic modelling, write Sarah Breeden and Sabine Mauderer
CGFS report offers policy advice for coping with dollar funding strains
BIS committee gives advice amid “major changes” in the structure of global dollar funding markets
Bank of Canada stimulus to continue for ‘very long period’ – Macklem
Economic recovery will be “prolonged and bumpy”, governor Tiff Macklem warns
Brazil close to limit of monetary easing – minutes
Rate-setters stress new interest rate cuts could imperil financial stability
FCA to gain new powers to tackle ‘tough legacy’ issues in Libor transition
Untangling complex legacy issues is looking increasingly difficult as delays mount due to Covid-19
Singapore and China to deepen collaboration on green finance
MAS chief proposes working together in areas including loan syndication and verification
NY Fed economists weigh in on yield curve control debate
Jury still out on Japan’s measures to control yield curve but there is “one clear benefit”, researchers say
Paraguay cuts rates to 0.75%
Economic activity declined significantly in April, central bank reports
Bafin says it did not supervise scandal-hit Wirecard
Official tells Central Banking he is “not aware” of any agency supervising firm implicated in fraud
Covid-19 and oil: a tale of three countries
Oil-dependent nations are facing a crisis on two fronts. Central banks must now strike a balance between keeping inflation in check and restoring growth
German regulator faces questions after Wirecard admits huge possible fraud
Bafin brought criminal complaint against journalists who alleged wrongdoing at German company
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
BoE admits bond holdings are contributing to climate change
UK central bank’s bond portfolio is out of step with international climate goals but differences in calculations makes it challenging to quantify
People: Nikhil Rathi appointed UK FCA chief
Stock exchange boss to take helm at regulator; new member of BoE committee named; Poloz to chair think-tank; Bank of Canada seeks CBDC project lead
BoE apologises for former officials’ links to slave trade
Central bank says it was never directly involved in slavery, but former governors were
Bank of Canada exploring alternative inflation measures – governor
Canadians feeling prices rising despite CPI being negative for two months, deputy governor says
Brazilian central bank cuts rates to record low
MPC says “remaining space for monetary policy stimulus is uncertain”
Why has the euro failed as a global reserve currency?
ECB's Klöckers says fragmented capital markets and incomplete banking union holding euro back; while sovereign crisis and low yields contributed to 'underperformance' as a reserve currency, survey finds
Covid-19 hampers inflation measurement – Riksbank’s Ohlsson
Too soon to say whether consumption changes during pandemic will become permanent, official says
Chilean government wants to give central bank QE powers
Draft law would allow Central Bank of Chile to buy government debt in “exceptional circumstances”
Fed develops new fraud prevention model
Federal Reserve wants model to be voluntarily adopted across US payments system by 2024
PBoC will not engage in monetary financing, Guo says
Senior central bank official says China will not monetise deficits or use negative interest rates