Federal Reserve System
Villeroy de Galhau rejects ‘populist’ critique of central banks
Independent institutions belong in driver’s seat ‘more than ever’, says former BdF governor
ECB should become global lender of last resort – report
Academics put forward policy recommendations to further internationalise euro
Firms are rejecting stablecoins – Cleveland Fed study
Local businesses express scepticism about technology, with one saying ‘just pay me in US dollars’
Stress-testing Brazil’s credit co-operative safety net
Rapid growth in credit co-operatives has made a public test of FGCoop’s liquidity, replenishment and resolution capacity necessary, argues Gustavo Pessoa
US firms are actively divesting from China – Fed note
Businesses have been shrinking Chinese holdings since 2020, research suggests
Sarb hikes rates 25bp, citing persistent global supply shock
Global economy not in a healthy space, governor says
Low- and middle-income US households most hurt by housing inflation – Barr
Governor signals more rate hikes to come to tame inflation
Washington is guarding against the wrong dollar threat
Brics nations did not launch a common currency in New Delhi. The payment networks they are building may matter more
US rates surge sparks new wave of FX net investment hedging
Corporates pile into currency hedges to protect value of foreign assets and capture positive carry
Regulatory risk aversion contributed to SVB failure – Bowman
Supervisors ‘knew, or should have known’ about risks a year before bank’s collapse, says Fed vice-chair
BoE holds rates and reveals talks to sell gilts to Treasury
Economists voice concerns over blurred fiscal and monetary policies
Federal Reserve delivers first rate hike since 2023
FOMC expects policy to remain around 4.1% for 2026–27 and inflation to reach 2% by 2029
Dollar losing ‘convenience yield’ outside US – NBER paper
US-based investors favouring repo over Treasuries, authors find
Geopolitical tensions raising rate hike expectations – BIS
Quarterly review highlights new communication challenges for central banks
Treasury buyback risks a (collateral) chain reaction
Rebalancing of bond tenors could stretch collateral links to breaking point, argues economist
The Fed enters a new epoch
Chair Kevin Warsh takes his first steps to transform the US central bank
Resolution planning needs to be broader and more intense – report
Strengthening capital alone will not prevent bank failures, Bretton Woods Committee finds
Fed’s AML plan may mean ‘inconsistent’ supervision
Industry groups says Fincen should have co-ordinating role
China ups gold reserves by largest amount in nearly three years
Monthly increase is biggest since 2023 as PBoC’s holdings hit 76.7m troy ounces
Fed study mulls whether to count tokenised assets as M1 or M2
Emergence of new money causes headaches for monetary aggregates, economists say
Dollar’s decline has been overstated, says NY Fed study
Fall in greenback’s share of FX reserves driven by concentrated drop among small number of states