International
Senior policy-makers differ on future of global monetary system
Trichet, Lipton and Reinhart debate whether SDR could play a bigger role in global stability
Lagarde resigns as IMF managing director
Selection process to find successor will start “promptly”, IMF says
NBER paper outlines ‘four-equation model’
Authors expand the textbook three-equation model to account for unconventional policy
Five reasons why Mark Carney should head the IMF
The outgoing Bank of England governor has all the requisite skills
BIS paper looks at low returns on safe assets
Changing risk perceptions explain growing wedge between safe and risky assets, authors say
Are central bank digital currencies inevitable?
Launching a CBDC could protect the pre-eminence of public money, a new report argues
UK to consider curbs on funds’ daily liquidity
Mark Carney says BoE officials are “disappointed” by limited global progress on issue
Trade tensions set to harm long-term US growth – IMF paper
Output would decline even if China voluntarily limits its exports to the US
Sovereigns increase fixed-income allocations amid volatility
Central banks intend to increase renminbi allocations and adopt ESG, survey finds
‘Fintech shadow banks’ shaping global credit – Amit Seru
Regulators need to pay more attention to shadow banks, Stanford professor says
Next IMF chief could be non-European
Carney and Carstens among possible candidates as institution seeks successor to Lagarde
IMF: some central banks ‘on the verge’ of piloting CBDCs
IMF survey also highlights need for greater co-operation on fintech regulation
Sovereign debt restructuring does not hamper returns long-term – IMF paper
Investors who sell during crises fare much worse than those who buy and hold
BIS says theory behind EME policy must catch up with ‘reality’
Situation is similar to adoption of inflation targeting in early 1990s, says BIS annual report
Lagarde reiterates call for greater international co-ordination
“We need a trading system fit for today’s world,” IMF chief says after G20 summit
BIS to scale up banking services as part of new strategy
“Innovation BIS 2025” envisages broader research agenda and new channels of co-operation
Energy prices drive inflation interdependence – research
Core inflation is much less co-ordinated across advanced economies, Bank of Spain paper finds
Basel Committee overhauls leverage ratio to tackle ‘window dressing’
New disclosure rules aim to end “unacceptable” quarter-end rush to cut leverage
Mobile financial services bring firms into formal economy - BdF paper
New technologies cuts size of ‘informal’ economy in developing world, researchers find
People: Sarb deputy governor retires after 10-year term
China appoints vice-finance minister to MPC; senior Bank of Finland official joins IMF executive board.
Optimal capital may be higher than previously thought – Basel Committee
Study finds net long-term benefits to higher capital levels
Illiquid funds could pose global systemic threat – Carney
Some funds are “built on a lie” and market-based finance is bringing new risks, BoE governor says
FSB weighs options for tackling rise of non-banks
Randal Quarles says strict regulation is necessary if crypto assets like Libra become widely used
Effects of CBDC on lending depend on level of competition – BoC researchers
CBDC could increase bank lending if banks have some market power, researchers say