International
Global banks vulnerable to dollar funding shocks, IMF stability report shows
There has been a “resurgence” of US dollar liabilities relative to assets in non-US banks, IMF warns
World risks ‘global liquidity crunch’, former BIS officials warn
“Urgent action” needed to prevent crisis, say Philip Turner and André Icard
RBA paper looks at responses to liquidity crises
Penalty rates to contain risk-taking are more effective on long-term loans, study finds
Cyber attacks on financial firms rise by 37% – survey
Eighty-eight per cent of participants report domain name system attacks over the last year
BIS and SNB co-operate on technology research hub
Swiss centre will investigate how to use digital central bank money on DLT infrastructure
Big tech: a threat to banks?
The explosive growth of financial services offered by big tech companies in China offers important lessons
IMF chief sends strong warning on trade in first speech
US-China trade war could cost global economy the GDP equivalent of Switzerland, Kristalina Georgieva warns
BIS studies highlight limits to unconventional policy
Policies seen as broadly effective, but reports warn of spillovers and other unintended effects if the policies are used too much and for too long
Borio and co-authors attack concept of natural interest rate
BIS paper sets out a model in which “monetary policy hysteresis” can do lasting damage to the economy
FSB looking into regulations applicable to stablecoins
Stablecoins may be small now, but there’s “no doubt” they pose regulatory challenges, FSB chair says
Some financial market fragmentation helps stability – BIS paper
Different types of market fragmentation have different trade-offs, researcher says
BIS is strengthening ties with the Americas, says Carstens
Expanded role for regional office and potential innovation hub will bring closer ties, general manager says
IMF paper tests conventional wisdom on economic and financial cycles
World cycles have not become stronger during globalisation period, researchers find
IMF economist: central banks may have misdiagnosed secular slowdown
Lower neutral rates may have been caused by central banks lowering rates, researcher says
EMEs can resist spillovers with prudential policy – BoE paper
Some prudential policies work better than others, researchers find
Expectations and term premia both drive spillovers – BIS paper
Different components have greater impacts in advanced and emerging economies, authors find
Seven threats from big tech’s libra
Can central banks avoid a ‘big tech’ monetary meltdown?
BIS launches green bond fund for central banks
Institution aims to use fund’s clout to influence development of green investment standards
Book notes: Economics for the common good, by Jean Tirole
The book should be well received amid the recent rise in populism
Kristalina Georgieva confirmed as IMF managing director
World bank chief exec says boosting fund’s financial strength and tackling crisis risk are priorities
BIS authors detail new data on non-bank exposures
Banks have highly concentrated exposures to non-financial counterparties, researchers say
Central banks urged to adopt DLT-based CBDC
Industry figures argue central bank money is needed for token-based securities settlement, but central bankers are sceptical
Carney calls for more nuanced approach to green metrics
Binary green-brown distinction is not enough to drive transition to low-carbon industry, BoE chief says
Swift conducts 13-second cross-border payment
Trials saw payments go from origination through to clearing and settlement in seconds