Banks
Some thoughts on CBDC operations in China
People’s Bank of China deputy governor Fan Yifei outlines why he favours an indirect approach to introducing a CBDC in China
Banque de France seeks partner for wholesale CBDC project
Project will explore CBDC use cases in interbank payment space
Failure to curb ‘binge borrowing’ could worsen downturn – Yellen
“Excessively” high corporate borrowing may trigger a “wave of corporate defaults” in the coming months, former Fed chair warns
‘Ostrich approach’ to financial stability is a mistake
Denmark’s top supervisor, Jesper Berg, says scaling back IFRS 9 would be a costly error, despite the economic challenges raised by Covid-19
Brazilian central bank seeks power to buy government bonds
Governor Campos Neto said the central bank should be able to support markets as its peers are doing
ECB asks eurozone banks to stop dividends
Bank of Israel also asks banks to reassess the distribution of dividends
Sarb consults on Covid-19 regulatory easing
Central bank mulls lowering Pillar 2A capital requirements
Concentrated firepower: central banks must expand their arsenal
Philip Turner argues central banks should be prepared to go further to avoid economic and financial collapse
Brazil unveils measures to boost liquidity
Central bank estimates action will boost credit supply by 1.2 trillion reals ($238 billion)
IMF releases first emergency Covid-19 funding to Kyrgyz Republic
Country is battling with balance-of-payments gap of $400 million
RBI follows ECB with crisis-fighting TLTROs
Central bank slashes rates and launches targeted liquidity measures
Swiss central bank launches unlimited refinancing facility
SNB asks federal government to reduce countercyclical buffer to 0%
Sarb to buy government bonds
South African central bank also broadens refinancing operations to boost liquidity
Philippines, Taiwan and Indonesia cut rates; Singapore on watch
Asian central banks continue easing to boost virus-hit economies; Singapore slips into deflation for the first time in a decade
Contactless payment limit to rise in the UK
National roll-out of new limit will begin in April, but will take time, says industry body
Riksbank steps up pace of crisis support programme
Swedish financial regulator says publicly-quoted firms must stop equity payouts
RBNZ lowers banks’ core funding ratios
Central bank reduces ratio to 50% to support government’s crisis lending scheme
US dollar has become ‘risk barometer’ – BIS economists
Role of dollar has changed since 2008 due to major changes in global financial sector, authors say
UK lenders do little to account for extreme weather risks – BoE paper
Banks barely adjusted mortgages in the wake of severe flooding in 2013–14, authors find
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
RBNZ launches $30bn government bond-buying programme
MPC asked to vote on package via email to ensure social distancing
The dawn of a safer and sounder European banking sector
Implementation of two pillars of banking union has led to significant improvements in the safety and soundness of the European banking system
New York Fed to offer $1 trillion per day in repo funding
Move sends message the Fed stands ready to meet any increase in funding demands over coming period
ECB temporarily relaxes NPL regulation
Central bank estimates lower capital requirements will release €120 billion for lending