Balance sheet
ECB reminds Italian lawmaker: monetary financing by gold is illegal
European Central Bank says budget amendment’s purpose is “not clear”
QE will have long-term fiscal benefits, Bailey tells Treasury
BoE analysis addresses criticism that taxpayers paying for unconventional monetary policy
Monetary Policy Benchmarks 2025 – executive summary
Data reveals risks to the outlook, applications of scenario analysis and balance sheet policy
Ex-governor says Fed should use Treasury derivatives in crisis
Doing so could split response from monetary policy and hedge interest rate risks, argues Jeremy Stein
ECB to tilt future QE to shorter-term bonds – Schnabel
Collateralised lending to play key role in Eurosystem asset composition
Monetary Policy Benchmarks 2025 report – risk-based policy
Benchmarks highlight main risks and how central banks analyse them, as balance sheets normalise
Working group minutes: central banks face balance sheet challenges
Some institutions are struggling to absorb large amounts of excess liquidity
Why Europe cannot afford to delay the digital euro
CBDC would counter the erosion of sovereignty as cash recedes, substitution by foreign digital monies and weaponisation of access, argue Biagio Bossone and Céu Pereira
Changing balance sheet composition mostly reflects normalisation
Gold buying and FX interventions drive changes in some jurisdictions
Powell defends policy stance and balance sheet
Fed chair stands firm, amid criticism from Bessent and others
BoJ’s Noguchi says need to adjust rate increasing ‘more than ever’
Member of central bank’s policy board says Japan on way to achieving 2% inflation target
Options for realising gold revaluations
Is monetary gold a special case in central bank revaluations accounting?
IMF model links banks’ liquidity and capital adequacy rules
Lenders balance liquidity and solvency risk, paper says
Yield spreads of bonds held by mutual funds decline in QE – ECB paper
Bond purchase programmes compress risk premia and boost demand, research finds
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Britain’s ‘knife-edged’ economy is dividing BoE rate-setters
Chief economist and deputy governor for monetary policy both outvoted on MPC for first time since 2007
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Only 5% of central banks reveal individual bank stress-test results
Respondents share details of how stress scenarios are developed
Elizabeth McCaul on supervision, new macro-dynamics and investing in suptech
Former ECB Supervisory Board member speaks about Covid-19 and Credit Suisse shocks, regulation debates, the rise of non-banks and what makes tech projects succeed
More independent central banks take on greater risk – ECB paper
Low rates, tighter fiscal policy and good growth accompanied by higher risk-taking on balance sheets
BIS paper debuts new metric to gauge monetary policy stance
Index captures how size of central bank balance sheet affects borrowing conditions