Banks
Book notes: The banker who made America, by Richard Vague
Well-researched book details how Thomas Willing played a key role in winning the US war of independence
Merchants in the cash system
As policy-makers seek to protect cash acceptance and increasingly look to retailers to facilitate access to cash, Martina Horakova argues that merchants need adequate cash services themselves – and that providing cash to the public should not come at…
Europe’s stability at risk if AI bubble bursts – ECB blog
Correction could freeze functioning of continent’s financial markets, say central bank economists
Mexico sovereign bond rigging case settled in New York
Agreement appears to resolve remaining claims over banks’ alleged manipulation of sovereign debt market
Market reforms are about boosting policy transmission, says CBN
Changes brought in by Nigerian central bank enable individual investors to participate in OMOs
UK has a new prime minister, but the same fiscal woes
Debt, spending and bond markets present challenges for Burnham and BoE, say former MPC members
ECB finds gaps in geopolitical stress-testing frameworks
Current methods fail to properly capture impact of geopolitical stress on liquidity
SNB welcomes ‘too big to fail’ reforms
Switzerland moves to close Credit Suisse-era gaps with new banking regulations
Argentina eases bank dollar lending to companies
Authorities roll back post-2001 guardrails in effort to boost credit and economic growth
Comms staff need to reflect on how their messages are perceived
BoE’s Eric Tong discusses research probing how the public receives central bank messages via the media
India extends programmable CBDC welfare scheme
Government hails e-rupee food initiative as “proof of concept for the nation”
Africa’s domestic debt shift raises costs and risks, BIS warns
Diversifying investor bases necessary to reduce reliance on central and commercial banks, study says
PBoC appoints Deutsche Bank as a renminbi clearing bank for Europe
China’s central bank reiterates pledge to internationalise RMB as part of its five-year plan
PBoC reportedly vaulting more gold in Hong Kong
Report comes as city conducts trial run on gold clearing system and aims to become international bullion hub
Argentina renews $19 billion swap line with China
New agreement between BCRA and PBoC extended from three to five years
Thai economy needs monetary, fiscal, financial policy mix – BoT
‘Single policy tool insufficient to mitigate more frequent shocks,’ central bank says
Eurozone banks get reality check after ECB geopolitical stress test
Financial institutions struggling to embed geopolitical risks into resilience testing, ECB says
Digital euro would have ‘muted’ effect on banks’ funding – paper
Bundesbank finds that €3,000 holding limit would cause “contained” effects on long-term bank health
Central banks should intervene with a ‘market backstop’ – paper
New research suggests optimal policy response to market freezes
Basis trade loses its bite as banks move in
Returns on popular hedge fund strategy dwindle to as little as three basis points, while dealers make use of softened capital rules to replicate the trade
South Korea to resume gold buying and may vault domestically
BoK’s reserves head cites geopolitical risks as motivator for institutional gold purchasing