Central Banks
Local currency debt not enough to escape US dollar influence – BIS paper
Emerging markets borrowing in domestic currency are still affected by the US dollar exchange rate
RBI stands firm on stressed assets as Supreme Court deliberates
Central bank says it has not softened stance, but court could force it to grant forbearance
US crypto-asset regulation needs strengthening – Massad
Former CFTC chair Timothy Massad recommends a path for regulatory reforms
IMF supports Argentina’s efforts to tame inflation
The central bank extended its monetary base targeting after inflation rose sharply in February
Slovak police wrongfully arrested supervisors – central bank
National Bank of Slovakia files complaint with prosecutor, saying police acted corruptly over failed insurer
Lithuania adopts maximum diversification as defensive strategy
Risk parity protects portfolio from lower bond prices and lower-for-longer yield environment
ECB to supervise bank that accused Latvian governor of corruption
Latvian authorities requested ECB action as lender sues them for alleged malpractice
Norway’s SWF excludes rubber company on environmental grounds
Singapore-based rubber producer thought to have taken unacceptable risks
BIS paper studies high-frequency data on central bank intervention
Sterilised foreign exchange interventions can help to slow credit growth, authors find
UK statistics body to launch high-speed indicators
Big data approach should allow faster estimates of economic activity, ONS says
NGDP target can create ‘divine coincidence’ – Bullard and Singh
Nominal GDP targeting can “repair” distortions from credit market frictions, authors find
Should central banks be more active in managing integrity risks?
Antti Heinonen says banknote procurement faces the threat of corruption, but central banks can take steps to mitigate the risks
Pressure on Hong Kong dollar set to continue despite a dovish Fed
HKMA intervenes to defend peg, with pressure looking likely to continue
ECB to publish new reference rate in October
New rate should fully replace Eonia by beginning of 2022, ECB says
Brazil’s Campos Neto calls for independent central bank
President Jair Bolsonaro promised formal central bank independence during 2018 campaign
US agencies move to protect swaps after week of Brexit chaos
Legacy swaps can be transferred without facing onerous requirements, Fed says; week of parliamentary wrangling produces little progress on a final agreement
Argentina toughens monetary targeting on higher inflation
Government to send bill to parliament to prohibit central bank from financing the Treasury
Canada’s Wilkins calls for non-bank stress testing
Portfolio flows are now the dominant source of capital movements, but asset management risks are not well understood, says deputy governor
Fed official suggests reforms to tackle ‘credit deserts’
Brainard advocates greater geographical flexibility in banks’ obligations; FDIC chair appears to agree