Asset managers
BoE launches system-wide test on private markets
Second ever exploratory scenario to include major asset managers; results expected in early 2027
A fireside chat with BIS head Agustín Carstens
The lifetime achievement award-winner speaks with Chris Jeffery about how experiencing inflation shaped his career, gaps in economic theory and macro-pru governance, the future of money and the importance of international co-operation
Central banks looking to re-orient to euro from US dollar – panel
“Geopolitics is here to stay”, reserve managers say, as “very gradual” de-dollarisation continues
US Treasury volatility highlights repo market risks
Yields spiked overnight as tariffs came into effect, piling pressure on heavily leveraged hedge funds
US life insurers more exposed to ‘risky’ debt than in 2007 – study
Fed research compares current situation to subprime exposure that preceded financial crisis
The GFXC chair on the next steps for the FX global code
Global FX Committee chair Gerardo García speaks with Christopher Jeffery about updating FX best practice, improving buy-side engagement and revising settlement risk estimates in the BIS’s triennial survey
Three-quarters of UK financial firms use AI – BoE’s Breeden
Deputy governor previews survey result in speech on AI’s financial stability risks
Reserve Benchmarks 2024 report – the challenge of diversification
Central banks’ insights into portfolio make-up shine light on new and old trends
A new climate of change
Central banks are warming up to address climate risks just as US interest cools
From debate to dilemma: should reserve managers diversify when rates are high?
Panellists discuss tranching, tactical diversification and strategic asset allocation governance in current market conditions during a Central Banking roundtable in collaboration with Invesco.
Buy side reflects on BoE’s gilt liquidity lifeline
Lending facility could prevent repeat of last year’s LDI crisis if properly designed, pension and insurance experts say
Reserve managers vote BlackRock as overall best asset manager
Goldman Sachs and “other” asset management firms also score highly
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Book notes: Labor in the age of finance, by Sanford M Jacoby
A fascinating attempt to document the US labour movement’s efforts to use pension fund money to bolster its voice
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption
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
Panellists discuss liquidity, oversight and risk management frameworks around using ETFs to diversify portfolios at a Central Banking roundtable discussion, in collaboration with Invesco
US Treasury market preps for reporting showdown
Sifma expected to attack transparency plans; prop traders brand objections “crazy”