Capital
Quantitative tightening: missed opportunities
Treasuries and central banks must think harder about balance sheet policies, says Philip Turner
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
BAM governor speaks about Covid-19, Fed tightening, BIS membership, regional co-operation and inclusion
Joseph Stiglitz on the challenge of fixing macroeconomics
Nobel Prize-winner discusses if central banks went wrong in 2021 and what to do about inflation
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers during the past three months
BoE’s planned procyclical capital hike bewilders banks
Some doubt regulator will go through with buffer hike while forecasting recession
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions raise questions about the US dollar’s central role
Tensions flare between policy-makers over US Treasury reform
SEC’s proposed rule-changes have “ruffled feathers” at Treasury department
US judge rules against seizure of Afghan central bank assets
Assets cannot be seized while US government does not recognise Taliban regime, judge says
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Ex-NBU governor talks about fund shortfalls, finstab challenges, the CBR and post-conflict rebuilding
Quiet man: is Michael Barr the Clark Kent of regulation?
A decade after crafting Dodd-Frank, Fed’s new vice-chair must tame DC's warring regulatory factions
Book notes: The Fed unbound, By Lev Menand
This book highlights need for charter-like oversight of shadow banking sector
The PBoC, real estate debt and financial stability in China
Officials have restricted policy space due to efforts to contain property risks amid slowing growth
How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making
The case for restoring the role of monetary aggregates
Surge in money supply in response to Covid-19 triggered rampant inflation
Chinese authorities repay more depositors amid banking scandal
Analysts say the banking crisis in Henan and Anhui could precipitate more rural bank runs
DNB officials propose framework for central bank capital
Study offers central banks a guide to the complexities of latent risk and independence
Chinese regulator urges banks to fund housing projects
Some analysts argue it is time for Beijing to intervene more forcefully
BoE’s Saporta floats idea of countercyclical liquidity buffer
Design of Basel III rules may be causing banks to hoard capital and liquidity, official says
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the IMF founder, but fails to resolve espionage charges
BoE flags global risks in ‘opaque’ commodities market
LME disruption reveals “highly leveraged” participants within financial system
Basel Committee proposes capital add-ons for crypto exposures
Committee tightens proposed rules in several areas following high-profile crypto failures
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
BIS says central banks must act ‘decisively’ on inflation
Tightening policy hard and fast may be central banks’ best shot at engineering a soft landing