Research
UK still paying EU ‘divorce bill’– National Bank of Belgium blog
Research shows cumulative cost of Brexit amounts to six to eight percentage points of GDP
Nigeria should allow stablecoin innovation but manage risk – IMF
Institution sets out four steps to manage surging adoption of assets
More than $1.4tn of daily FX trades face Herstatt risk – BIS study
Only around a third of transactions fully eliminate settlement risk by using PvP
Markets react more to macro news in uncertain times – study
Monetary policy uncertainty amplifies bond yields’ response to data releases, BIS paper says
Dollar’s reserve currency status worth $33 trillion – paper
Loss of exorbitant privilege would lead to dollar depreciation and rise in real interest rates
Time saved by AI does not increase output – BoK study
Paper says technology has reached efficiency stage but not productivity stage
Credit Suisse’s AT1 loss hurt regulatory credibility – paper
Declining bail-in spreads show markets doubt regulators will enforce resolution, BIS study argues
Norges Bank says third of crypto owners had ‘negative’ experience
Biannual survey shows most Norwegians have never heard of DeFi or stablecoins
Novel AI could help with banknote quality control – paper
Tool could help prevent defective currency from entering circulation, Bank of Italy researchers find
Remote working drove US youth unemployment – NY Fed study
Economists say uptick in joblessness among US graduates predates spread of AI
Market data good predictor of FX swings – BoJ research
Paper examines trade repository information in foreign currency markets
Economists find ‘strong and stable’ Phillips curve in China
Past studies had struggled to pin down a clear link between inflation and output in the economy
Liquidity rules partly pay for themselves – BIS paper
Banks benefited from lower funding costs after implementing the liquidity coverage ratio, authors find
QT does not produce opposite effects to QE, evidence suggests
BoE study considers implications of 1980s ‘overfunding’ for policy-makers today
Official lending replaces private capital during crises – paper
Public creditors charge below-market interest rates on loans to sovereigns in crises, NBER study finds
Economists use AI to expand data on cross-border flow limits
IMF paper draws lessons from 40,000 policy moves designed to control financial flows
Reserves shifting from deposits to securities – paper
Pattern may be evidence of ‘mercantilist’ motivation for excess reserve accumulation
Dollar’s centrality in FX markets makes it more volatile – study
Greenback’s use as ‘vehicle currency’ makes it more sensitive to external shocks, economists say
G7 central banks warn quantum is in ‘early stages of experimentation’
Readying financial system for Q-day is ‘not a simple substitution exercise’, say authorities
Geopolitics complicates stablecoin adoption, BIS paper finds
Weaponisation of financial infrastructure may hinder digital dollarisation, say researchers
Carry trades explain FX response to rate hikes – BIS bulletin
Value of funding currencies surges after surprise tightening as investors unwind positions, study shows
Instant payments gaining volumes from RTGS – BoE study
Move may be driven by demand for rapidly available funds and lower payment fees, say authors
NBFI oversight ‘no longer adequate’, say BdF economists
Researchers call for stronger supervision of non-bank sector ‘before risks actually materialise’
Cash remains king during extreme weather events – study
Payment system resilience relies on fallback options during digital outages, authors argue