Central Banking
US unemployment stats understate problem – research
Peterson Institute research says BLS figures fail to include all workers affected by pandemic
How the Fed’s Covid stress test got stuck in the middle
Experts fear CCAR add-on has neither informed investors nor guided capital management
BoE issues deadline for firms’ climate risk plans
PRA says firms’ climate risk disclosures and scenario planning need major improvements
Philippines central bank links up with debt trading platform
Move comes as central bank buys government bonds and prepares to issue own debt
Ukrainian governor resigns in protest
Smolii says he has been the target of “sustained political pressure” aimed at stopping him doing his duty
RBI supplies liquidity to Indian shadow banks ‘to avoid systemic risk’
Non-banking financial sector has faced major difficulties over last two years
BIS suspends dividend to prepare for further Covid-19 strains
BIS will not pay dividend for first time since 1950, as senior managers see further turbulence ahead
UK firms must prepare for Brexit risks – FCA
EU and UK have yet to agree on equivalence, senior official warns
Eurozone inflation reached 0.3% in June
Eurostat estimates show significant differences in inflationary pressures between countries
US living wills must include ‘lessons learned’ from Covid-19
Large banks must outline how crisis is impacting resolution planning capabilities, Fed and FDIC say
ECB stresses capital requirements won’t hamper bank mergers
Central bank launches consultation on new guidelines on banking sector consolidation
Fed’s safety nets are ‘fundamentally unsustainable’
The Fed’s new safety nets will allow “zombie companies” to thrive and drag down productivity; ever-increasing levels of interventions are “fundamentally unsustainable, intertemporally”, says William White
Riksbank expands QE and adds corporate debt to purchases
Swedish central bank cuts lending rates to banks, but keeps repo rate unchanged at 0%
Dividends should be subject to macro-pru limits – ECB paper
Measure would reduce volatility in loan supply and equity levels, economist argues
US facing new challenges as Covid cases surge – Powell
Powell warns of public confidence hit as US infections soar past previous peak
BoE partners with QA Media to benchmark software investments
Central bank aims to improve own software development processes, and those in the banking sector
CBDC can boost de-dollarisation and inclusion – Cambodia
Cambodia’s central bank says its quasi-CBDC network can promote use of local currency and improve financial inclusion
Non-banks exposed to riskiest CLO tranches – Fed research
Risky holdings appear to be larger than market participants believe, economists say
Zimbabwe increases interest rates as inflation soars
Central bank raises interest rates to 35%
Liberian government puts five central bank officials back on trial
Prosecutor alleges former governor and deputy governor carried out “economic sabotage”
Norges Bank takes new step in Tangen’s hiring process
Incoming SWF manager finalises agreement with third party to manage his fortune during his time in office
Mobile payments banned in Zimbabwe
Central bank suspends mobile payment platforms following government circular
BIS warns of further shockwaves in ‘generation-defining’ crisis
Solvency crisis is looming on the horizon and health crisis is far from over, BIS officials say, as they present the 2020 annual report
Fed launches final Covid-19 lending facility
Facility began purchasing corporate bonds at issuance on June 29