Central Banking
Nordic central banks sign currency swap agreement
Norwegian, Swedish and Danish central banks conclude bilateral swap deals
UK government pledges economy-wide climate disclosures by 2025
FCA says firms worth $3.8 trillion will disclose climate risks over next three years
BoE’s Cunliffe: hedge funds played key role in March ‘turmoil’
Risk management actions by leveraged funds can destabilise the financial system, deputy says
Vietnamese politburo warns former central bank governor
Nguyen Van Binh formally warned over handling of bad debts and loans to bank
Bank of Italy paper looks at flatter Phillips curve
Weaker collective bargaining has played key role in flattening relationship, researchers say
MAS warns firms over third-party cyber risks
Ravi Menon warns of risks from open source software and third-party service providers
RBNZ extends some emergency measures
New Zealand central bank delays capital changes again and may reinstate LTV limits
A 19th century bank failure holds lessons for stablecoin era – BIS paper
Bank of Amsterdam’s early “stablecoin” fell apart as the bank lent more freely, authors say
BoE warns banks: start preparing for a higher carbon price
Risk Live: stress tests should assume rising carbon price, regardless of government policy, says Breeden
Vietnamese central bank gets first female governor
Deputy governor Nguyen Thi Hong to become the first governor of State Bank of Vietnam
RBNZ launches funding for lending programme
Central bank avoids taking rates negative but says the policy remains an option
Lagarde signals Covid-19 stimulus will remain active for longer
Asset purchases and bank lending programmes will be key ECB tools; rate cut not mentioned
BoE paper offers solution to ‘paradox of flexibility’
Using shadow rate can avoid anomalous results at zero lower bound, authors say
Regulatory frameworks should apply to activities not institutions – Mester
Cleveland Fed president says policy-makers must increase co-operation and co-ordination on fintech
IMF postpones 2021 annual meeting in Morocco
Meeting will go ahead in Washington, DC, instead, with new Marrakesh date scheduled for 2022
Weak banks could reverse effects of policy rate cuts – ECB paper
Countercyclical buffers play crucial role in preventing “reversal interest rate” events, researchers find
EBA wants Basel to revisit prudential rules on software
Banking regulator set to soften capital impact of IT assets, but proposals are still out of line with US
Baltic central banks aim for joint commercial paper market
Estonian, Latvian and Lithuanian central banks to work with EBRD on creating short-term debt market
Fed examines climate risks in stability report for first time
It is “vitally important” that climate risks are “assessed and addressed”, says Lael Brainard
IMF approves $370 million credit facility for Afghanistan
New programme aims to support country’s recovery from Covid-19
BIS paper pins down causal impact of capital flows
Study based on confidential BIS data finds capital controls can help prevent overheating
China mandates deposit insurance labels
PBoC goes further in implementing deposit insurance policies to mitigate risk
Cash usage in Norway falls to 4%
Deputy governor says CBDC research is ongoing but any future system would be controlled by the central bank
Turkish finance minister quits after president fires governor
Finance minister resigns before new governor signals he will consider raising policy rates