Asset prices
Rising to the challenge – Reserve management in an uncertain world
Amid unprecedented measures being taken by central banks and governments to combat the global Covid‑19 pandemic, BlackRock‘s Stephan Meschenmoser, Laszlo Tisler and Crystal Wan compare and contrast BlackRock’s model portfolio against its high-grade…
Banks are ‘inherently unstable’, BIS paper finds
Researchers study the many roles banks play and find all of them tend towards instability
BIS paper: twin financial cycles can ‘turbocharge’ crashes
Policy-makers should differentiate between domestic and global cycles, authors say
Global carbon taxes are coming: central banks must prepare
The next financial crisis could be a green one. Are central banks doing enough to prepare?
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed has gone too far, market function rules needed and chance opens for shared policy load
World Bank says sub-Saharan Africa destined for first recession in 25 years
Growth could fall as low as -5.1% as largest economies struggle with Covid-19 repercussions
ECB paper presents new model for ‘fire sale’ contagion
Agent-based model shows asset managers spreading contagion during larger liquidity shocks
FOMC discusses communication ‘escape clauses’
Fed might need “leeway” to deal with financial instability, some FOMC members say
Eurozone banks increase illiquid assets after solvency shocks – DNB paper
Shift in asset holdings could create asset price distortions after banking crises, researchers say
Bank of Canada holds rates but cuts growth forecast
Central bank cuts expected growth by 0.75 percentage points lower for both Q4 2019 and Q1 2020
Regional Fed presidents warn asset purchases are creating risks
Robert Kaplan expresses concern over Fed’s response to market funding pressures
Bank of Guyana to manage new sovereign wealth fund
New fund will invest profits from new oil revenue
Ghana launches push to turn banking sector green
New sustainable principles address seven areas of social and environmental issues
Weak data on sustainable assets threatens financial stability – Sarb
Industries' vulnerability to climate-related risk is unknown, South African central bank says
Norway’s SWF chief to step down after 12 years
Yngve Slyngstad presided over international diversification and the adoption of real estate, while total assets multiplied by four
Dutch pension funds hit by low interest rates, says DNB
Today, 63% of funding ratios are below the statutory minimum
Large forex dealers are key to asset pricing – Bundesbank paper
Capital ratios of large forex dealers are important in explaining asset price movements, paper says
Big tech: a threat to banks?
The explosive growth of big tech companies in China offers important lessons
Central bankers without clothes and clout
Without normalisation, central bankers may be revealed to have no clout, writes Jesper Berg
30 years of central banking
Central banks face credibility tests on a number of fronts
BoE paper: ‘tails’ matter when studying global financial cycle
Authors look to the tails of the distribution to understand exchange rate risk in the global cycle
Fed policy is reinforcing overvalued equities, Shiller warns
Robert Shiller talks to Central Banking about his latest research, “Narrative Economics”
FOMC divided over July cut, minutes show
Some FOMC members worried by effect of rate cut on US financial stability
Norwegian fund welcomes ‘positive result’ in turbulent quarter
Fund saw returns in the second quarter despite some difficult trading conditions