Bonds
Yellen and Bernanke call for Treasury market reform
March's market gyrations demand close look at infrastructure and regulatory framework, former Fed chairs say
Bank Indonesia to buy $28 billion of government debt
Central bank increases direct financing of government, raising fears over currency and independence
Bank of Israel launches corporate bond purchases
Central bank also extends cheap funding for bank lending
Peter Praet on Europe’s Covid-19 responses
The former ECB chief economist talks about threats to financial stability, negative rates, common debt issuance and steps to improve the EMU
Philippines central bank links up with debt trading platform
Move comes as central bank buys government bonds and prepares to issue own debt
BIS suspends dividend to prepare for further Covid-19 strains
BIS will not pay dividend for first time since 1950, as senior managers see further turbulence ahead
Fed launches final Covid-19 lending facility
Facility began purchasing corporate bonds at issuance on June 29
Financial shocks explain ‘large share’ of US business cycle – BoE paper
New identification method helps avoid pitfalls encountered by earlier research, author says
ECB warns Slovenia over new loan law
Yves Mersch says ECB should have been consulted over law and warns of financial stability effects
Singapore and China to deepen collaboration on green finance
MAS chief proposes working together in areas including loan syndication and verification
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
BoE admits bond holdings are contributing to climate change
UK central bank’s bond portfolio is out of step with international climate goals but differences in calculations makes it challenging to quantify
Chilean government wants to give central bank QE powers
Draft law would allow Central Bank of Chile to buy government debt in “exceptional circumstances”
PBoC will not engage in monetary financing, Guo says
Senior central bank official says China will not monetise deficits or use negative interest rates
Israeli governor reflects on response to Covid-19
Bank of Israel started government bond purchases and dollar-shekel swaps to boost liquidity
A better way to buy private sector securities?
Central bank asset purchases can do more harm than good and are often conducted on a flimsy legal basis, writes HKU’s Bryane Michael
Israeli reserves rise 6.7% in May to new record
Portfolio boosted by government transfers from abroad and FX purchases
BoE’s Hauser: Covid-19 forced “largest and fastest” actions ever
Executive director gives blow-by-blow account of how the BoE tackled the Covid-19 crisis in the markets
China moves towards single ‘green finance’ taxonomy
Move to unify central bank standards with other agencies could have major impact – observers
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
ECB expected to sharply increase PEPP purchases
Central bank could start reinvesting PEPP securities and increase supranationals’ share
Stress levels rising: investment funds and the Covid-19 shock
Extreme market stresses due to Covid-19 are underscoring the central role non-banks play in crisis contagion, as in 2008. Were regulators better prepared this time?
Bond purchases will not imperil independence – Brazilian governor
Roberto Campos Neto stresses temporary asset purchases face strict limits
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding