Collateral
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
IMF’s financial counsellor discusses the need for action on run rate assumptions, interest rate risk, deposit insurance and crypto regulation
Another financial crisis hiding in plain sight
Steve Kamin analyses how the risks that sank SVB were plain enough to those who looked for them
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Lifetime achievement: Stefan Ingves
Modest man from the Finnish ‘boonies’ has had a major impact on international central banking
What are the systemic lessons of SVB?
Philip Turner says the collapse of SVB reveals deeper issues than many have realised
US banking collapses muddy monetary policy outlook
Bank failures raise question of whether Fed can maintain stability while tightening policy
Fed creates new liquidity backstop amid contagion fears
Valuing collateral at par marks significant break with rules on standard liquidity facilities
To repo or to buy? Non-bank liquidity backstops still elusive
BoE’s Hauser and Fed’s Logan flag major design challenges in building ideal market backstop
Can new BoJ governor Ueda maintain his neutral position?
Kazuo Ueda will face divided views on monetary easing and its growing side-effects when he takes office, writes Sayuri Shirai
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
2022: The year in review
The invasion of Ukraine left central banks facing yet another exceptional set of challenges this year
ECB adjusts risk controls with eye on collateral availability
First assessment of climate risk in collateral framework concludes no climate-related changes needed
The ECB’s collateral conundrum
A lack of high-quality collateral in the eurozone has resulted in money market rates lagging ECB policy rates
Gilts debacle exposes financial stability risks
Lurking leverage in liability-driven UK pension investments raises important questions for central bankers
Chile’s Costa on tackling inflation, forex interventions and nowcasting
Chilean governor discusses stubbornly high prices, Fed spillovers, reserve buffers, retail CBDC and unconscious bias
Eurozone banks’ TLTRO repayments are below market expectations
Slow pace of repayments may hamper ECB policy normalisation, some analysts say
FTX collapse: what went wrong?
Regulators close in as downfall of major exchange rips through crypto sector
BoE paper finds U-shaped collateral impact from central clearing
Centrally clearing all derivatives trades does not necessarily free up the most collateral
Greener energy mix would foster price stability, says Lagarde
More use of renewables would reduce chance of energy price spikes
‘Shouting on the phone’: BoE officials shed light on gilt market intervention
Crisis sparked by UK government’s plans needed unprecedented action, officials tell parliament
DNB advises pension funds to boost liquidity – report
Following UK crisis, Dutch central bank asks funds to monitor stress signals and review liquidity rules
BoE sticks to bond-buying deadline amid strains on UK non-banks
Bailey restates cut-off date for asset purchases despite spike in margin calls and redemptions
BoE widens asset purchases as ‘dysfunction’ threatens again
Surge in gilt yields comes in final week of BoE’s “temporary” intervention