Banks
How Finma milked Credit Suisse’s CoCos to close UBS deal
An unusual clause in Swiss AT1 bonds allowed them to be written off, but could others ever follow suit?
Central Banking Awards 2023: third group of winners announced
Awards include economic research, payments reform and risk management services
Apac central banks reassure amid Credit Suisse woes
Central banks in Australia, Singapore and Hong Kong say banking systems remain stable
Pandemic purchases averted ‘destabilising loop’, BIS finds
Central banks tended to use different tactics in advanced and emerging economies, report says
What are the systemic lessons of SVB?
Philip Turner says the collapse of SVB reveals deeper issues than many have realised
SNB to lend up to $54 billion to Credit Suisse
Swiss central bank and supervisory authority say bank meets capital requirements
Financial stability risks add uncertainty to ECB policy path
Central bank broadly expected to deliver another 50bp rate hike, taking rates to 3%
Fed launches supervision review in wake of SVB collapse
Vice-chair for supervision says central bank needs to show “humility” after bank failure
Central database is ‘cornerstone’ of open banking
Cyber security and financial literacy are key obstacles to data-sharing, experts say
Central Banking Awards 2023: first group of winners revealed
Awards for Central bank of the year, Risk manager and asset service providers announced today
Fed creates new liquidity backstop amid contagion fears
Valuing collateral at par marks significant break with rules on standard liquidity facilities
Bank of Guyana rejects FX criticism
Country’s FX reserves fell to 1.4 months’ worth of export cover in the autumn
Run on US bank sparks fears over interest rate risk
Major banks’ shares drop as investors reassess billions of dollars of unrealised losses
US lender tied to FTX goes into liquidation
Federal government investigating California bank linked to failed crypto exchange
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
Book notes: A guide to good money, by Brendan Brown and Robert Pringle
The authors make some good points even if one does not agree with this full-bodied attack on Keynesian economics and inflation targeting
RBA official raises concerns over CBDC
Central bank proceeding with pilot despite potential drawbacks
Agent-based models shed light on CBDC dynamics
Take-up could be as high as 25% of total money, but depends on design choices, IMF research finds
US and UK sanction Russian bank licensed in UAE
Central bank “studying options” as Ukraine allies target sanctions evasion
Fed, FDIC, and OCC warn banks over crypto deposits
Risks from crypto firm deposits are correlated, heightened and unpredictable, Fed says
PBoC releases draft rules for Swap Connect
Foreign access to onshore CNY swaps limited to interbank bond market users, while Isda docs aren’t ruled out
Russia to launch CBDC pilot in April
Central bank exploring cross-border functionality to evade sanctions
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments
One in five fintechs in Ireland send inaccurate returns to regulator
One in four reported deficiencies in safeguarding customers’ funds