International
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
De Galhau unveils G7 task force on ‘stablecoins’
Banque de France governor says group will weigh up impact of Libra and other “stable” crypto assets
US company debt and euro public debt are global financial risks – IMF
China’s non-bank financial firms are also a major vulnerability, fund says
IMF’s IEO outlines plan for capital flows evaluation
Some countries say the fund may now be too quick to endorse capital flow restrictions
Boston Fed’s Rosengren warns about Japanese banks’ loan holdings
Exposure to CLOs now above Common Equity Tier 1 in one of Japan’s largest banks, data shows
Book notes: Why not default?, by Jerome Roos
A thought-provoking book that will repay the investment of any reader with an interest in sovereign debt
‘Green bonds’ are helping firms clean up their act – NBER paper
But bonds only have a significant impact if they are independently certified, researcher finds
Regulators prepare response to Facebook’s Libra
Plans under way for G7 working group, as crypto asset plans draw criticism in Europe and US
Facebook unveils new ‘currency’
Social media group says it plans to “reinvent money” with payment system backed by liquid reserves
IMF formalises strategy on ‘social spending’
Lagarde says tackling inequality, exclusion and other social problems is key to rebuilding trust
Review calls on IMF to deepen monetary expertise
Independent report says IMF broadly made the right calls on risks around unconventional policy, but shortage of expertise leaves fund behind the curve
CBDC could raise bank funding costs – Philadelphia Fed
Choosing an appropriate interest rate could help alleviate problem, say researchers
Global imbalances require ‘carefully calibrated’ policies – IMF
Report comes as G20 leaders warn about imbalances concentrated in advanced economies
Climate disclosures still ‘insufficient’ – task force
There has been progress on climate disclosures but much more is needed, report says
Senators urge Fed to investigate Trump and Deutsche Bank allegations
Whistleblowers allege financial wrongdoing by senior bank staff and transactions involving Trump