Central Banks
Bank of Korea stops handling overseas cash as coronavirus spreads
Central bank says it will not accept cash from abroad until further notice
German house prices rise by slowest rate since 2014 – Bundesbank
Housing prices continue to rise but at slower rate, especially in major cities
Stability versus solvency
There is still far too much regulatory forbearance on troubled bank debt. More on-site inspections and genuine writedowns are needed to fix the banking system
Zimbabwean central bank optimistic but currency falls
Central bank fails to say whether debt repayments will be in US dollars or how long they will take
NY Fed speeds up repo withdrawal
US banks’ demand for cash remains high as NY Fed’s first term repo is oversubscribed
People: Bank of Israel appoints monetary committee member
Michel Strawczynski joins Bank of Israel six-member body; World Bank has a new managing director of development policy and partnerships; South African Mint appoints new managing director
BoE’s Taylor argues for solution to IFRS 9 ‘headache’
Loss provisioning rules could worsen downturns and present issues for stress-testing, official says
PBoC loosens credit for province hit by coronavirus
New banknotes issued in bid to slow spread of disease, officials say
US exporters hit by Trump’s import tariffs – Fed paper
Firms making 80% of US exports affected by tariffs on input goods, researchers find
Climate-related disclosures should be mandatory – RBNZ official
Assistant governor says firms should not be allowed to “cherry pick” what disclosures they make
Book notes: The power of money, by Robert Pringle
Economists would benefit from reading this “remarkable” book, which contains “brilliantly written snapshots” about money’s historical and social roles
ECB’s TLTRO2 eased Italian credit conditions – BoI paper
QE measure lowered loan interest rates while increasing credit quantities, researchers find
Chinese banks set for mass loan repricing
PBoC set to launch new options to help markets manage interest rate risk
Should the ECB add owner-occupied housing costs to its inflation measure?
Yves Mersch argues broader measure of housing costs would give more realistic inflation picture
Latin America must prepare for rapid ageing – Bank of Spain paper
Pensions spending set to rise sharply as potential growth falls, researchers warn
Suriname scandal deepens as ‘tainted’ governor nominee withdraws
Central bank denies $100 million is missing as staff denounce president’s pick for governor
IMF confirms it has abandoned fifteenth quota reform
US thought to oppose proposals to increase emerging economies’ voting power
Credit-fuelled construction booms lead to busts – IMF research
Credit booms that lead to rapid growth in construction more likely to end in crisis, researchers find
Interview: Luiz Awazu Pereira da Silva
BIS deputy general manager talks about the obstacles central banks face with regard to climate change and why the status quo needs to evolve