Asset managers
To repo or to buy? Non-bank liquidity backstops still elusive
BoE’s Hauser and Fed’s Logan flag major design challenges in building ideal market backstop
Gilts debacle exposes financial stability risks
Lurking leverage in liability-driven UK pension investments raises important questions for central bankers
Tactical and strategic ETF use in reserves
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US Treasury market preps for reporting showdown
Sifma expected to attack transparency plans; prop traders brand objections “crazy”
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak about ‘twin bonds’ and other efforts to deal with liquidity issues
The international effort to manage NBFI risks: where do we stand?
Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-pru issues
BIS targets green bond growth with launch of Asian fund
“We expect a fast-growing market for green bonds,” says BIS banking head Peter Zöllner
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
Should ESG reporting be made mandatory?
As concern around the impact of climate change on businesses grows, many regulators have announced their intentions to include ESG requirements in reporting frameworks
Technology reserve staff levels hold during pandemic
Remote work posed an operational challenge
Securities lending prevalent in European central banks
Monetary policy, market maturity and currency variation may limit adoption in other regions
Most central banks invest in derivatives
External managers facilitate wider use of these instruments
External asset manager use on the rise
Central banks in upper-middle income countries allocated higher share of reserves to external managers
Trends in reserve management 2021: survey results
Results of the 17th annual Reserve Management Trends survey of reserve managers conducted in February and March 2021
Asset managers should face minimum cash levels – ECB paper
Researchers say macro-prudential measure would improve market allocation of financial resources
BoE looks to fix flaws in funds’ use of swing pricing
Central bank finds some funds overestimate the liquidity of their assets
Asset manager: BNP Paribas Asset Management
Firm has leveraged its focus on official institutions, expertise in MBS, training, reporting and ESG compliance
Climate portfolio services: RepRisk
Swiss firm’s ML tool offers central banks and SWFs early warnings on climate-related risks
MAS selects asset managers with green focus
Singapore government will start issuing green bonds, governor Menon says
Book notes: Asset management at central banks and monetary authorities, edited by Jacob Bjorheim
This excellent book fills a critical gap existing since IMF guidelines on asset management were revised
The Covid crisis, central banks and the future
Crisis responses were needed, but have exacerbated significant underlying challenges facing central banks
BIS paper tests impact of macro-pru on non-banks
Domestic and foreign prudential policies have opposite effects on non-bank share, authors find
Guy Debelle on the future of the FX Global Code
Code’s creators considering updates to sections on last look and pre-hedging
Non-banks continue to eat into banks’ market share
FSB monitoring finds patterns of links between banks and non-banks are changing