Tobias Adrian
Local bond markets seeing more domestic investors, IMF says
But EMDEs must be mindful of growing sovereign-bank nexus as foreign investors depart, latest GFSR chapter notes
Trade tensions could fuel further drop in asset prices – IMF
Global financial stability report also calls out highly leveraged non-banks
IMF says supervisors need to be mindful of geopolitical risks
Shock events cause sizeable swings in asset pricing, institution’s latest report highlights
Central Banking Awards 2025: the winners in full
Awards recognise extraordinary achievements in another challenging year for central banks
Central Banking Awards 2025: second group of winners unveiled
Awards recognise growth-at-risk research, transparency, digital transformation and more
Campos Neto on inflation targeting, independence and the future of financial intermediation
The Brazilian governor speaks with Christopher Jeffery about tackling inflation, the need for financial autonomy, and redefining the financial landscape with open finance, programmable Pix, deposit tokenisation and sound cross-border payments governance
Central banks face a capital framework imbalance – should we care?
Most economists say clear recapitalisation frameworks are important. But many central banks still lack them
‘Stretched’ bond markets vulnerable to instability – IMF
Expectations of soft landing have compressed spreads and could lead to sudden repricing, report says
IMF builds new measure of central bank independence
First “entirely new” metric in 30 years seeks to overcome limitations of much-cited paper
IMF’s Adrian says world needs $5 trillion annual climate funding by 2030
Multilateral banks working to ‘crowd in’ private finance to meet need
Cross-border CBDC challenging to deliver, officials warn
But digital currency could tackle “extremely high” remittance costs, says IMF’s Tobias Adrian
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
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…
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
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
Monetary policy ‘increasingly synchronised’, say IMF officials
Very few central banks have bucked the global trend since the start of the pandemic
IMF stresses inflation risks may rise further
In such a case, central banks will need to be more resolute in securing price stability
War forcing central banks into ‘delicate balancing act’, says IMF
Sudden repricing of risk could expose vulnerabilities, fund says in latest stability report
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
Policy-makers debate central banks’ role in tackling climate change
Some see central banks as important co-ordinators; others warn they could overreach