United States
Former Richmond Fed chief to oppose discount window reform
Counting unused capacity towards prudential requirements would be ‘unwise’, Lacker will argue
Imminent US shake-up of LCR slated to include discount window
Adding Fed liquidity facility to bank regulation may help overcome stigma, raise lending capacity
Supervisory culture at Fed a ‘decades-long problem’ – Bowman
Vice-chair says there will be restructuring, while ‘tailoring’ of regulations will also change
Hammack: explaining Fed moves is accountability via transparency
Cleveland Fed CEO says setting out the reaction function is not the same as forward guidance
Trump sets up committee to investigate Cook
Courts had previously ruled US president had not followed due process in trying to fire Fed governor
Ice launches gold futures trading in London
Contract gives market participants new risk management tools, head of Ice Europe says
Stablecoins could let US firms prioritise some creditors – study
FDIC may be on hook if a bank issues coins before failing, Cleveland Fed researchers say
Philippines’ FX reserves fall to three-year low
BSP says levels sufficient following period of currency interventions and devaluations
UK FCA to investigate itself after whistleblower died by suicide
Regulator appoints ex-BoE official to examine procedures as it faces criticism from former staff
Fed to overhaul supervision along regional lines
Bowman says restructuring aimed at implementing ‘culture of accountability’ following SVB collapse
Kansas City Fed warns of long-term AI financing risks
Highly leveraged entities may cause financial stress to spill over to broader economy
Now more important that inflation does not exceed target – Ueda
Reports say Japan’s central bank is preparing to state that price growth has hit 2%
Investors price in sanctions risk for US equities – study
NY Fed authors say geoeconomic risk driven by firms’ exposure to sanctioned countries’ supply chains
Fed should avoid communicating without a framework – Musalem
St Louis Fed president outlines his preferred view of monetary policy comms
Stablecoins issuers’ debt wish not enough to meet US needs – study
SF Fed authors say demand for Treasuries will be much smaller than government’s requirements
Firms are rejecting stablecoins – Cleveland Fed study
Local businesses express scepticism about technology, with one saying ‘just pay me in US dollars’
Pakistan to offer cash prizes to boost remittance flows
Eligible beneficiaries of remittances will be entered into lottery-style draw
US firms are actively divesting from China – Fed note
Businesses have been shrinking Chinese holdings since 2020, research suggests
AI not having major impact on US graduate jobs – study
NBER researchers say changes in employment market are not statistically significant
Book notes: The unanchored central banker, by Manoj Pradhan and Charles Goodhart
A book sparkling with provocative opinions that challenges readers to rethink central banking amid evolving macro trends
Low- and middle-income US households most hurt by housing inflation – Barr
Governor signals more rate hikes to come to tame inflation