News
Fed presents two severe stress scenarios to test Covid risks
Limits on share buybacks and dividend payouts may be extended as stress tests emphasise risks
China’s CBDC could change global reserves, panellist argues
A digital yuan, if accessed widely, could change the reserve currency landscape, policy-makers say
Carolyn Wilkins announces departure from the Bank of Canada
Deputy governor who led emergency asset purchases says BoC “is in good hands”
IMF staffers warn of looming sovereign debt crises
Governments and markets should agree to extend bond maturities, IMF says
EU needs single anti-money laundering body, EBA says
EBA calls for EU to include investment and crypto-asset firms in scope of tougher AML/CFT laws
Swift announces major changes to system
Cloud-based platform will allow end-to-end transactions visibility and innovation by firms, Swift says
Ethiopia launches new high-denomination banknote
New 200 birr note aims to curb inflation and corruption, central bank says, as Covid-19 slows growth
ECB changes largest eurozone banks’ leverage ratios
Latest emergency response to Covid-19 should raise banks’ leverage ratios by about 0.3%, ECB says
FOMC signals rates likely to stay on hold until 2023
Latest Fed projections say inflation likely to stay below target for several years
Covid-19 will not result in CBDC issuance, say central bankers
Policy-makers think changes in payment behaviour will be temporary and CBDC research will take time
Diversification makes gold shine brighter – panellists
Negative sovereign yields boost gold’s attractiveness among reserve managers
Innovation hubs should help central banks update regulation – panellists
Regulation should be transparent enough for fintechs to understand what requirements must be met
People: Shelton unlikely to have enough votes for Fed role
Judy Shelton’s nomination in doubt; Fed appoints new director of monetary affairs; Bermuda Monetary Authority promotes insurance director
EM reserves ‘crucial’ in mitigating Covid-19 outflows, says Mauritius governor
Foreign exchange buffers helped to mitigate volatility in financial markets
Reserve managers weigh options to escape low yields
Longer-duration and emerging-market bonds may offer the way forward to portfolio managers
SBP offers overseas Pakistanis access to digital banking services
Prime minister says he hopes the Roshan Digital Account will help channel foreign exchange to Pakistan
Estonian governor criticises government’s fiscal stance
Spending was too high before coronavirus, and is making all citizens poorer, argues Madis Müller
Mauritius governor defends central bank’s funding of government
“Unprecedented times” require “unprecedented set of measures” including $1.5bn funding of government, says Harvesh Seegolam
Nigerian president tells central bank to change forex policy
Central bank defends industrial subsidies and says border has been closed to prevent smuggling
Asian reserves proved more resilient in Covid crisis – reserve managers
Limited use of Fed’s ‘Fima’ facility highlights improved reserve management, says panellist
UK regulators extend complaints review after pressure from lawmakers
Outgoing complaints commissioner says proposed changes raise “significant policy issues”
BIS warns of gap between market valuations and reality
Corporate credit spreads have tightened, despite what the BIS sees as a looming solvency crisis
People: Bank of Israel appoints senior officials
Governor appoints new director-general and head of communications; retired judge heads bank director vetting committee
Netherlands nominates Frank Elderson to the ECB board
NGFS chair would replace Yves Mersch, whose term expires in December 2020