Central Banks
Fed predicts ‘unprecedented’ economic shock
Policy on hold as Q2 may see data “worse than any data we have seen”, Powell warns
Is SDR issuance the best way to support low-income economies?
Economists and policy-makers are increasingly discussing the option as a way to boost liquidity in the fight against Covid-19
Individual German banks at risk from interbank shocks, paper finds
Bundesbank paper presents simulation method for analysing interbank markets
Fed’s Jackson Hole conference hit by temporary venue closure
Kansas City Fed is considering implications and will release details when available
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
Cash usage decreases as confidence in banks rises – research
Research included in MAS review flags importance of psychological factors in cash usage
BoE’s Proudman recommends data-gathering rethink
“Pull” model would be “revolutionary” but might come at too great a cost, official says
ECB publishes framework for assessing prudential spillovers
Detailed paper aims to help regulators assess cross-border effects of macro-prudential policies
Riksbank open to future rate cut
Swedish central bank keeps stimulus package unchanged in monetary policy meeting
World Bank pays out after triggering pandemic bonds
Requirements for funding release were met on March 31; since then, Covid-19 cases in poorest countries have doubled to 1.34% of the global total
Fed expands local government liquidity facility
Programme faced criticism for leaving out regions with heavy Native American and African-American populations
BdF paper looks at household vulnerability
High levels of household debt magnify negative shocks and weaken positive ones, researchers find
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
IMF approves new programmes in support of weaker economies
Over the past week the fund has given the green light for disbursements in Bosnia, Paraguay, DRC and Mauritania
Coronavirus latest: Central banks respond to the Covid-19 crisis
Live coverage as central banks respond to the virus outbreak (live feed is now closed)
Bank of Russia cuts policy rate as oil and pandemic crises deepen
Elvira Nabiullina says central bank may cut again as it forecasts major recession in 2020
Riksbank unveils details of local bond purchases
Swedish central bank to buy up to Skr5 billion from Kommuninvest i Sverige
RBI steps in with liquidity line for mutual funds
Injection of $6.6 billion comes as Franklin Templeton shuts down six funds
Bank of Japan steps up stimulus with unlimited JGB purchases
BoJ drops limit on government debt and quadruples corporate bond cap, but it is unclear if purchases will actually increase
BRI debt is sustainable, participant countries signal
Countries involved in the Belt and Road Initiative say they are not concerned about debt sustainability at home but neighbouring country obligations could be a risk
US default rates could hit 8.1% without policy action – Richmond Fed
Loan forbearance policies could see this drop to “essentially zero” in 2021, researchers say
FedNow: the road to non-bank access to US instant payments
Debate over granting non-banks access to Fed systems reveals possible flaws in US regulation
The IFF China Report 2020: Green finance and fintech
Green finance has been steadily growing over the past few years. As China has come under greater scrutiny about the scope of its projects, the Belt and Road Initiative has evolved to foster sustainability both in terms of debt servicing and…
Ukraine central bank cuts policy rate sharply
NBU says failure to agree IMF deal is main risk, as bank administrators sue oligarch