Central Banking
BoE paper explores ‘anatomy’ of gilts crisis
Detailed account of crisis reveals contagion, concentrated risk and role of wider market players
US regulators fine Wells Fargo for aiding sanctions-busting
Fed and Treasury say bank failed to halt client channelling funds to Iran, Syria and Sudan
Eurozone headline inflation drops sharply
But core figure remains high as service price rises persist
Sweden does not yet need CBDC, inquiry finds
Report recommends strengthening access to cash and other offline payment methods
PBoC has lent banks $44 billion for ‘green projects’
Facility helps Chinese and foreign lenders to fund carbon emissions reduction, says governor
Singapore and Malaysia set up cross-border payments link
Travellers can use QR codes to pay for transactions in foreign stores
Rates round-up: Kenya raises rates to highest since 2018
Sarb adds 50bp more as economy struggles; Zimbabwe cuts 1,000bp; Mozambique holds
BIS paper warns of worsening fiscal and monetary trade-offs
Many governments have sought to shield consumers from price rises, at a high budgetary cost
BoE proposes minimum resilience for LDI funds
Funds at centre of UK’s bond market 2022 crisis must withstand bigger “yield shock”, BoE says
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks
Australia to publish central bank review in April
Independent review likely to propose changes to RBA’s board
Credit Suisse collapse triggered eurozone contagion – ECB’s Enria
Enria says some kinds of contagion were more dangerous than others as Swiss G-Sib collapsed
EU politicians back plan for new AML authority
Proposals include tougher transparency requirements and crypto transaction limits
SVB collapse threatened banks across the US – Fed’s Barr
“Full extent” of bank’s vulnerability was not clear to supervisors until the run, vice-chair admits
Lagarde slightly injured in car accident
ECB president was departing Euro Summit
UK banks insulated from wider troubles, BoE says
Financial policy committee “closely monitoring” events but says capital and liquidity are sufficient
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
Bailey says investors ‘testing’ banks for weakness
UK banks not facing same issues as SVB US or Credit Suisse, BoE governor says
PBoC swap lines now key international bailout tool
Researchers say PBoC extended support worth billions of dollars to Belt and Road countries
Fed details Custodia rejection decision
Decision says Wyoming firm has deficient management and risky business model
Fed’s Bullard revises rate projection upward
Policy-maker says bank stress likely to fade but inflation fight continues
Basel Committee chair reflects on CCyB effectiveness
Pablo Hernández de Cos suggests review of counter-cyclical buffer as uses of tool diverge
Taliban appoints new governor to Afghan central bank
Hidayatullah Badri was acting finance minister and previously ran Taliban’s finances
World faces ‘new investment regime’, says Mauritian governor
Seegolam says “bonds are back” but FX will be volatile