Capital flows
BIS weighs possible shift in global liquidity conditions
Nervy markets struggle to digest rates outlook, as BIS research finds deeper shift may be underway
IMF launches CBDC handbook
More data and methodologies needed to understand impact of all new means of payments
Strong dollar harms EME bond market liquidity – BIS paper
Dealer intermediation vulnerable to both “original sin” and “original sin redux”
UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
US sanctions Russia-linked investment bank in Hungary
Orbán government withdraws from lender called “spy bank” by opponent
Natural disasters can trigger capital flight – Bank of Italy paper
International investors move funds out of EMEs but not advanced economies, researchers say
EME officials predict volatility from ‘higher for longer’ rates
Fed’s policy set to worsen environment, say officials from Peru, Colombia and South Africa
Myanmar official says Mir payments will launch in October
Central bank leader had predicted the Russian card would start circulating last year
US official outlines expanded role for poorer nations at IMF
Shambaugh discusses quota reform and new officials for developing countries
Reports of cash restrictions in Niger
West African central bank froze relations and closed local offices after July 26 coup
Pakistan launches sovereign wealth fund
Struggling country transfers $8 billion of shares in seven state companies to new SWF
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
West African central bank freezes Niger’s accounts
BCEAO cancels bond issue after military detains elected president
Nicaragua considers joining Mir network
Finance minister says Russian cards will overcome “aggression” of sanctions
Algeria is applying to join Brics bank, says president
Country joins Argentina and Honduras on list of applicants
Russian legislators approve Islamic banking pilot
Two-year programme may attract foreign capital or appease restive minorities
Fed fines Deutsche Bank $186.4 million for AML violations
German lender failed to comply with earlier orders and was involved in Danske Bank scandal
IMF repeats warning on Marshall Islands’ fintech plans
Fund proposes Pacific island state could set up a ‘monetary authority’
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance, bank regulatory reforms, and daily UPI payments hitting 300 million transactions
Two major lenders tighten limits on Russian transactions
Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia
Euro remained second reserve currency in 2022 – ECB report
Structural factors continue to hold back the euro as a reserve currency
Saudi Arabia in talks to join Brics bank
Gulf state would join as Shanghai-based lender increases non-dollar operations
Iceland raises rates 125bp to head off ‘wage-price spiral’
MPC orders largest increase in two-year tightening cycle as inflation remains near 10%
MAS did not tell banks to ‘keep quiet’ about China flows, group says
Private banking group says sources of inflows into Singapore remain diversified