Federal Reserve System
Major central banks set out CBDC policy debates
BIS and central banks discuss major policy issues that still need to be solved
OCC will target ‘persistent weaknesses’ in US banks
Updated guidance introduces tougher approach to non-compliant banks
US banks need higher equity capital levels, Kashkari says
“Essentially unlimited deposit insurance” poses systemic risk, says Minneapolis Fed president
Bernanke and Blanchard reassess causes of inflation surge
Economists who predicted surge misunderstood underlying causes, study finds
Financial security of US households ‘fell sharply’ in 2022
Inflation comes first in list of financial worries, Fed survey finds
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption
Spillovers more widespread than previously thought – Boston Fed
Many central banks cause spillovers besides the Federal Reserve, researcher says
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars
Quantitative tightening and forward guidance need rethink, say economists
Forward guidance removes options to respond to shocks, say academics and experts
Fed’s Bowman defends regulatory ‘tailoring’
Governor calls for independent review of SVB collapse, dismissing Barr report
Florida adopts anti-CBDC law
Governor has denounced US digital currency, though there are no concrete plans for one
Fed communication drives house price expectations – NBER paper
Researchers find people’s expectations vary widely and depend on clear explanations
Biden nominates Jefferson as Fed vice-chair
President chooses first Latinx candidate for Fed board, and names Cook for full term
Fed walking a financial stability ‘tightrope’
Experts disagree over US regulators’ use of systemic risk exception for deposit insurance
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
Advanced economies face slowdown and stubborn inflation
Jagjit Chadha analyses the shifting outlook for the world economy, with more hard work ahead for central banks
Defaults, reduced growth and less lending ahead, Fed says
Recent bank failures were caused by poor risk management, report finds
Another financial crisis hiding in plain sight
Steve Kamin analyses how the risks that sank SVB were plain enough to those who looked for them
Fed raises rates by 25bp as it chases lower core inflation
Policy-makers still need to “take away the punch bowl”, economist says
Biden may nominate Kugler, promote Jefferson on Fed board – reports
Adriana Kugler would be the first Latinx Fed governor in the central bank’s 109-year history
Fed inspector says FOMC should look at extending trading rules
Internal watchdog also finds shortcomings in enforcement and review
JP Morgan buys First Republic in weekend rescue deal
US suffered “a bit of complacency” on banking regulation, says IMF chief
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
Fed report admits errors in SVB oversight
Report takes aim at regulatory easing during Trump era