Federal Reserve System
Atlanta Fed clarifies contingencies ahead of hurricane season
Outages could affect bank supervision, discount window, cash, cheque and ACH processing
ECB, BoJ, BoE and SNB reduce Fed dollar liquidity operations
Seven-day operations will decrease from daily to once a week
BSP governor warns against cutting rates faster than the Fed
Medalla’s comment follows central bank’s recent move to support the peso
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
First Republic Bank at risk of collapse after deposit flight
Shares in US bank plummet as scale of outflows becomes clear and rescue options remain obscure
Fed triennial study shows rapid growth in electronic payments
ACH payments contributed to 90% of non-cash payment value increases in three years
Romer and Romer ask ‘does monetary policy matter?’ – again
Study based on “narrative approach” predicts major impact from recent Fed tightening
Above-target inflation main risk for reserve managers
Central banks rank geopolitical tensions as the second most pressing risk in 2023
CBDC could increase financial instability, Fed’s Bowman warns
Retail CBDC would not improve payments or financial inclusion, she says
Immigration decline hurts growth and inflation prospects – Fed research
Dallas Fed VP says “absolutely” a link between low immigration and rising inflation
Stagnant US bank numbers ‘concerning’ – Fed’s Bowman
Governor argues regulation be loosened for bank formation, not tightened for mergers
Federal Reserve denies FedNow is a CBDC
Online sources post disinformation on payment system as anti-CBDC sentiment grows
US CPI falls to lowest level since May 2021
FOMC members hint at different views on next monetary policy decision
BSP governor says Fed should be ‘more caring’
But Felipe Medalla says Philippines accepts reality of having to react to US monetary policy
US banks still vulnerable to interest rate risk, IMF warns
“Supervisory lapses” appeared to be a factor in recent collapses, as many institutions remain exposed
Boston Fed expands programme to get people back into work
FedNow created high demand for IT roles, which sparked programme’s inception
Fed’s Cook says monetary policy is now restrictive
PCE and core PCE inflation both fall as Cook argues tight banking conditions could ease path
US regulators fine Wells Fargo for aiding sanctions-busting
Fed and Treasury say bank failed to halt client channelling funds to Iran, Syria and Sudan
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
SVB collapse threatened banks across the US – Fed’s Barr
“Full extent” of bank’s vulnerability was not clear to supervisors until the run, vice-chair admits
Fed details Custodia rejection decision
Decision says Wyoming firm has deficient management and risky business model
Fed’s Bullard revises rate projection upward
Policy-maker says bank stress likely to fade but inflation fight continues
Banknotes: January to March 2023
A round-up of news and salient issues that have affected central bankers in the past three months
People: January to March 2023
A round-up of central bankers in the news and on the move during the past three months