Collateral
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Canadian opposition says central bank ‘must not become government ATM’
Bank of Canada to end some emergency financing programmes as lawmaker calls more QE “insane”
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
Fed will calibrate NSFR to avoid hurting repo
Fed’s supervision head says final liquidity rule will be fast-tracked without fresh consultation
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing, coverage, portfolio construction, benchmarking, external parties and risk
ECB to accept green bonds as collateral
Green asset purchases also possible subject to programme-specific criteria
Collateral posting spreads among swaps users
Following the Bank of England’s example, most derivatives users now have two-way CSAs
MAS ramps up liquidity support
Financial sector will have increased access to Singapore and US dollar funding
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
National Bank of Georgia upgrades FX infrastructure
Move follows other financial market infrastructure reforms in recent years
Bank of Israel launches corporate bond purchases
Central bank also extends cheap funding for bank lending
Peter Praet on Europe’s Covid-19 responses
Former ECB chief economist discusses stability, negative rates, common debt and improving the EMU
Sarb introduces collateral substitution for repos
New framework designed to give banks more flexibility in managing collateral
ECB and Romanian central bank set up repo swap line
Romanian currency has fallen in recent months as central bank lowers rates in response to pandemic
BoE’s Hauser: Covid-19 forced “largest and fastest” actions ever
Executive director gives blow-by-blow account of how BoE tackled Covid-19 markets crisis
Central banking enters a new era
‘Monetary financing’ and ‘buyer of last resort’ traps lie in wait
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
Brazil’s governor details emergency asset purchase plans and backs extending SDR funding
The complex art of reserve management
Lockdown represents another inflection point for central banks managing $12 trillion in FX reserves
ECB changes collateral rules in effort to shield bank funding
Assets below investment grade will be accepted by ECB as collateral until September 2021
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed has gone too far, market function rules needed and chance opens for shared policy load
ECB takes unprecedented steps to preserve credit provision
Central bank accepts state-guaranteed loans as collateral, reduces haircuts
Bank of Israel launches targeted lending operations
Central bank offers cheap loans to banks as part of Covid-19 response package
Fed opens dollar funding to majority of central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars
Fed re-launches Primary Dealer Credit Facility in latest crisis move
New PDCF is more easily accessible than similar measure used in 2008 crisis