Bonds
Alexander Khazaradze on the NBG’s direct investments into CNY
Georgian central bank’s financial markets head speaks with Levente Koroes about the decision to invest up to 5% of its foreign exchange reserves in the onshore renminbi market
UK markets say ‘no’ to mandatory haircuts and clearing – BoE
Central bank to consider industry feedback and come back with updated proposals in early 2027
No slowdown in Asian sustainable bond issuance – senior exec
Let-up not expected in next three to five years, despite headwinds from Iran war
BoE: public debt, private credit and AI are main stability risks
FPC meeting minutes emphasise Iran war’s negative impact on growth, inflation and financing conditions
Reserve managers weigh tactical response to Middle East conflict
Some make case for ‘nimble’ duration management, but others say uncertainty is too high
Sabine Mauderer on the past, present and future of the NGFS
Bundesbank official discusses green policy, the Fed, data blind spots and future prospects
Use AI for ‘deeper insights’, not to make decisions – CBBH head
Selimović also discusses payments and reserves at Central Banking’s Kuala Lumpur meetings
For collateral, can TINA become TIA?
US Treasuries’ dominance as collateral in repo and derivatives is no longer set in stone, argues economist
Czech Republic, Moldova, Sweden and Ukraine all hold
Riksbank also lowers rate for supplementary liquidity facility as liquidity starts to dry up
Interest rate crosswinds buffet IRRBB teams
Political intervention and rapid-fire law changes are skewering bank models for forecasting cashflows
Financial services: Citi
The US bank has striven to provide clients with high-level advice as well as service breadth, technical expertise and execution
Financial markets infrastructure services – wholesale: Bloomberg
Tech firm helped Nigeria and Sri Lanka’s central banks to build essential FX market infrastructure, and Portugal and Ukraine’s treasuries to optimise debt auctions
BoJ bond holdings peaked at 77% between 2015 and 2024
Researchers find central bank’s debt holdings had non-linear impact on market liquidity
Reserve manager: Central Bank of the Philippines
New risk management approaches, forward-looking SAA tranching, internal capacity building and a redesigned external fund management framework set the BSP apart
Partner initiative: Amundi-Flar
LatAm central banks recognised the value of an ESG-aligned corporate bond ETF developed by Amundi and Flar
ECB posted €1.3bn loss in 2025
Reserves grew by €13.6bn while central bank thinned balance sheet by €37.3bn
Economists warn of emerging ‘sovereign-stablecoin nexus’
Researchers model regulatory options as stablecoins become intertwined with core markets
BoE to assess eligibility of digital gilts in monetary operations
UK set to become first G7 country to issue sovereign bonds on DLT
UAE central bank joins Hong Kong’s bond clearing scheme
Monetary authorities say move will provide Gulf state with direct access to renminbi debt market
Brunei to focus on Islamic and sustainable finance
Central bank says it has no plans to introduce a CBDC or stablecoin regulations
This is not quite Japan’s ‘Truss moment’ – ex-BoJ board member
Experts add that central bank is unlikely to have to intervene directly in sovereign bond market
Full ‘postmortem’ on QE yet to be written – Klaas Knot
Former DNB governor expects Fed to continue international monetary diplomacy under Warsh
Most non-centrally cleared repos have zero haircuts, FSB warns
New report provides sweeping view of $16 trillion market and suggests ways to close data gaps
EU cannot fully disconnect from US, say Nagel and Kocher
German and Austrian governors say bloc can take steps to gain more sovereignty