United States
ECB paper looks at Bayesian nowcasting
BVAR models have several advantages over Dynamic Factor Models, researchers say
People: RBNZ and Bank Indonesia appoint new deputy governors
Crane Currency names new president; Tainui-Hernandez and Joewono take up deputy governor roles
Fed picks G+D to develop ‘next-generation’ currency processing
German firm developed new prototype for the Fed to maximise speed and accuracy
Bundesbank paper examines stress-test models
Authors present a method to investigate how well stress tests predict bank failures
New York Fed paper examines MBS price dislocations in March
Flight to safety and dealer balance sheet constraints widened cash-forward basis, researchers find
New Fed discount window could ease bankruptcy crisis – researchers
Many companies may not endure a further liquidity shock
Improvements in US consumer expectations halt in July
Households more pessimistic as Covid-19 continues to spread, New York Fed survey reveals
IMF urges broad shake-up of US financial stability framework
Rapidly changing financial landscape poses challenges for the complex oversight framework, IMF says
Fed rejects bank appeals against stress-test results
Goldman Sachs remains in top spot for overall requirement, as Fed reveals stress capital buffers
Fed paper: market power can cause inequality and instability
Market power can explain a lot of recent undesirable “secular trends”, authors say; redistribution could have macro-prudential benefits
US unemployment falls to 10.2%
Miscalculation errors continue to understate headline figures, Peterson Institute research finds
Fed reveals instant payment plans
FedNow will feature interoperability on ISO 20022 message standard and new liquidity tool
Fed paper looks at effects of negative rates on banks
Banks with large holdings of liquid assets could be hurt by negative rates, researcher says
New York Fed study exposes ‘disturbing’ reality for black-owned firms
Data shows black-owned firms were disadvantaged from the start of the pandemic
Biden promises new Fed mandate on racial inequality
Democratic candidate wants Fed to take responsibility for economic concerns of Black Lives Matter movement
Flight to safety was not enough to fund credit line draws – Fed research
Many banks had to turn to non-deposit forms of borrowing, researchers find
Share buybacks limits monetary policy- BdF paper
Use of low-cost debt for buy-backs cuts spending on employment and capital good- researchers
Okun’s law can help predict GDP revisions – SF Fed paper
Revisions to GDP estimates during recovery from pandemic could significantly affect policy
US and German economies suffer largest quarterly contraction in decades
Official figures say second quarter saw biggest US GDP decline since the Great Depression
People: BoE governor appoints first female private secretary
St Louis Fed appoints new COO; new appointments at Kazakhstan’s sovereign fund and central bank; and more
Fed extends swap lines and warns of slowing US economy
More fiscal and monetary stimulus will be needed as cases surge in US, chair Powell said
Kansas Fed paper looks at conditional forward guidance
Date-based forward guidance would be effective without yield curve control, research says
Fed extends emergency facilities for three months
Move comes as US Covid-19 reported cases surge to record highs ahead of July FOMC decision
Fed’s forward guidance has significant bond yield impact – DNB paper
Researchers say data indicates that Fed managed to preserve monetary policy credibility