Balance sheet
BoE prepares more market support as cliff edge looms
Central bank creates temporary repo facility with wider range of eligible collateral
BoE becomes reluctant market-maker of last resort
Gilt market turmoil has again forced the BoE to intervene. Is there a better way?
Quantitative tightening: missed opportunities
Treasuries and central banks must think harder about balance sheet policies, says Philip Turner
Some new monetary frictions
Negative net interest is set to hit Fed earnings with monetary and fiscal policy implications
NY court orders world’s largest stablecoin issuer to prove reserves
Defendants accused of crypto market price manipulation
Book notes: The money minders, by Jagjit S Chadha
This book acts as an invaluable primer on money-credit-fiscal theory and practice
The PBoC, real estate debt and financial stability in China
Central bank policy-makers are restricted in terms of capacity and space by their efforts to manage the nation’s property bubble amid declining growth
‘Very little support’ for a US Treasury clearing mandate – Isda
Dealers and clients prefer carrot to stick in efforts to improve Treasury market liquidity
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
DNB officials propose framework for central bank capital
Study offers central banks a guide to the complexities of latent risk and independence
Monetary Policy Benchmarks 2022 report – a pandemic legacy
Benchmarks data offers insights into how Covid has impacted policy frameworks, plus governance, market operations and policy transparency
Bailey says bigger hikes and faster QT ‘on the table’
BoE governor says MPC is willing to act “forcefully” to prevent inflation persisting
G30 warns US Treasury market remains vulnerable
Group says US regulators need to do more to prevent dysfunction in the critical market
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
BIS says central banks must act ‘decisively’ on inflation
Tightening policy hard and fast may be central banks’ best shot at engineering a soft landing
BIS balance sheet buffeted by market turbulence
Institution still turned a profit in the year to March 2022
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
CBDC and bank intermediation in the eurozone
An assessment of the impact different ‘digital euro’ designs related to remuneration and usage limits could have on the banking system, including during times of stress*
BoE paper examines microstructure of UK banking system
Authors stitch together supervisory datasets to study likelihood of crisis
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war
Does Switzerland need an SWF?
A sovereign wealth fund could adopt longer-term strategies, invest in less liquid assets and increase exposures to riskier assets such as equities, potentially boosting returns
Shadow banks: the biggest threat to US financial stability?
Non-bank risks may be the greatest problem facing the Fed’s incoming vice-chair for supervision
Fed makes first 50bp rate hike in decades
Central bank under pressure to curb inflation without crashing the economy