Bonds
Eurozone bail-in regime has not widened bond spreads – ECB paper
Wider financial and economic environment play key role in determining bond spreads – researcher
BIS launches green bond fund for central banks
Institution aims to use fund’s clout to influence development of green investment standards
ECB expected to cut rates and restart QE to boost inflation
But Draghi’s ambitious stimulus package faces growing opposition from governors in surplus countries
Five insights into China’s green finance transformation
China’s top-down, state-directed mechanism may be the most effective way to embed green finance in a timely manner, writes the PBoC’s Ma Jun
Eurozone needs low-risk asset, ECB paper says
New asset would allow banks to change holdings of sovereign bonds, researchers argue
Fed balance sheet could surpass crisis-era peak by 2025
Central bank may start buying Treasuries outright as soon as this year, New York Fed report shows
Argentina opens IMF talks as crisis deepens
Government extends debt maturity and pledges reserves will not be used to repay international investors
Germany issues first ever zero coupon 30-year bond
Move raises questions over how ECB will respond to tough conditions, analysts say
Foreign banks in US made sharpest reserve cuts – Kansas Fed paper
Researchers look at impact of Fed’s quantitative tightening on US banks’ assets
Overcoming deflation: Japan’s experience and challenges ahead
Bank of Japan governor Haruhiko Kuroda explains how Japan’s long battle against deflation may offer insights for the future conduct of monetary policy at other central banks
Norwegian fund welcomes ‘positive result’ in turbulent quarter
Fund saw returns in the second quarter despite some difficult trading conditions
ECB’s bond purchases restrict monetary policy – DNB paper
Higher demand for safe assets widens bond yields and cuts policy transmission, says researcher
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
The IMF’s financial counsellor speaks about risks from big tech’s move into fintech, the fund’s efforts to craft well-targeted policy guidance and why the current international monetary ‘non-system’ works
Malaysia takes action against 17 Goldman bankers over 1MDB
Custodial sentences and criminal fines sought in relation to alleged misappropriated funds
PBoC unveils 11 measures to open up China’s financial sector
Analyst says actions most detailed so far in loosening foreign ownership restrictions
NBER paper outlines ‘four-equation model’
Authors expand the textbook three-equation model to account for unconventional monetary policy; extra policy tool is necessary to overcome credit shocks
Bank of Thailand voices concerns over baht appreciation
Thai central bank says it has cut supply of short-term bonds to curb hot money inflows
Purists lament as most cheer Lagarde as next ECB chief
Lagarde expected to adopt similar philosophy to Draghi at ECB, making the central bank the ‘only game in town’ – at least for a while
Bank of Spain paper examines post-crisis US bond markets
Volatility is less persistent but more frequent than before global financial crisis, researchers find
Sovereigns increase fixed-income allocations amid volatility
Central banks intend to increase renminbi allocations and adopt ESG, survey finds
‘Green bonds’ are helping firms clean up their act – NBER paper
But bonds only have a significant impact if they are independently certified, researcher finds
CBRT cuts rates for primary dealers
New liquidity facility designed to contribute towards financial market deepening, central bank says
Climate change – Where can central banks contribute?
Climate change is becoming increasingly important to central banks thanks to its implications for financial stability. In a forum sponsored by Amundi, Central Banking convened a panel of experts to discuss the latest innovations, regulations and…
Can central bankers turn finance green?
The Network for Greening the Financial System aims to bring about fundamental change. The central bankers who created it made a strong start but face serious challenges.