Asset-backed securities
Fed’s asset selloff may start in May, Brainard says
FOMC minutes show consensus for “balance sheet runoff at a coming meeting”
Over half of central banks modified collateral policies during the pandemic
Most reduced haircuts on banks’ collateral
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
Dallas Fed president resigns, following Boston’s Rosengren
Both faced criticism for equities trading and holdings, but are not unique among Fed leaders
Fed launches standing repo facilities
Facilities to be open to foreign central banks and domestic primary dealers; FOMC keeps policy on hold
Expecting the unexpected
Lars Schröder, senior engagement manager at SkySparc, looks at what is driving shifts in central banks’ technology requirements.
FOMC minutes show some disagreement on inflation
Some participants think US inflation pressures may continue into 2022
HKMA and BoJ launch new securities settlement framework
New “delivery versus payment link” aims to reduce settlement risk
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions forestalled a damaging global financial crisis
Equities have passed the Covid-19 test, reserve manager says
The higher yield and resilience these assets offered in 2020 may further boost reserve diversification
Fed extends emergency facilities for three months
Move comes as US Covid-19 reported cases surge to record highs ahead of July FOMC decision
Fed commits to unlimited bond purchases in massive new programme
FOMC announces radical new measures and calls on other policy-makers to act aggressively
Securitisation can increase risk – Bank of Italy paper
Periods of high demand for safe assets can lead to riskier originated loans, authors say
ECB calls on Greece to redraft securitisation plans
Government should consider setting up new regulator for NPL-backed assets, says European Central Bank
Big tech: a threat to banks?
The explosive growth of big tech companies in China offers important lessons
RBI weighs plan to boost securitisation market
Government-sponsored intermediary could be formed to act as market maker and standard setter
Foreign banks in US made sharpest reserve cuts – Kansas Fed paper
Researchers look at impact of Fed’s quantitative tightening on US banks’ assets
Facebook unveils new ‘currency’
Social media group says it plans to “reinvent money” with payment system backed by liquid reserves
NY Fed official sketches key factors for balance sheet plans
Fed’s nominal securities purchases may be higher than before crisis, official says
Lithuania adopts maximum diversification as defensive strategy
Risk parity protects portfolio from lower bond prices and lower-for-longer yield environment
Brainard hints at Fed’s monetary policy plans
Governor’s speech signals plans on policy rates and Treasury bills purchasing after QT end
Individual bank diversification can increase systemic risk, researchers find
Banks that are not systemically important can be ‘systemic as a herd’, authors say
Asset management: outlook for 2019
Monetary policy divergence, protectionism and ESG are shaping reserve managers’ approach to 2019
Sarb says new interest rate benchmarks may be calculated with ‘actual’ transactions
Current benchmark rate based on flawed market data, South African central bank says