Derivatives
PBoC releases draft rules for Swap Connect
Foreign access to onshore CNY swaps limited to interbank bond market users, while Isda docs aren’t ruled out
Stefan Ingves on leadership, prudential oversight and transparency
Riksbank veteran talks about Basel III, policy lessons and CBDCs
BIS finds Brexit dented London’s financial ‘pre-eminence’
London remains a leader in banking and derivatives, but has lost some market share
BIS analysis finds ‘huge’ debts hidden in FX derivatives
Economists say banks and non-banks have major exposures hidden off balance sheet
Gilts debacle exposes financial stability risks
Lurking leverage in liability-driven UK pension investments raises important questions for central bankers
BIS data shows ‘surge’ in OTC derivatives market value
Near 50% increase in space of six months reflects “elevated uncertainty”, BIS says
BoE paper finds U-shaped collateral impact from central clearing
Centrally clearing all derivatives trades does not necessarily free up the most collateral
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 prepares more market support as cliff edge looms
Central bank creates temporary repo facility with wider range of eligible collateral
BoE to buy bonds on ‘whatever scale is necessary’
Turmoil in gilt markets forces pension funds to dump assets to meet margin calls
China and Hong Kong to strengthen capital market ties, senior official says
Hong Kong markets should be able to trade in Chinese government debt futures, says Fang Xinghai
Rethinking regulation of the modern financial system
Rules need to address uncertainty in addition to risks, and should not be too complex
BoE flags global risks in ‘opaque’ commodities market
LME disruption reveals “highly leveraged” participants within financial system
China and Hong Kong to launch derivatives trading link
HKMA chief says Swap Connect scheme will allow global investors to manage interest rate risks
The international effort to manage NBFI risks: where do we stand?
Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-pru issues
Russia-Ukraine war revealing financial vulnerabilities – FSB’s Knot
Commodities markets, leverage and cyber attacks “warrant further attention”, says FSB chair
PBoC announces policies to help pandemic-stricken economy
Package of 23 measures echoes actions taken in 2020
Quantum computing: ready for prime time?
Central banks should add QC to their strategic planning, despite it being a work in progress
Risk management technology: BlackRock’s Aladdin Risk
ESG feeds, customised benchmarking and robust scenario analysis assist reserve management
Energy firms call for central bank support to cover margin spikes
Trade body warns energy market participants risk being unable to meet “unprecedented margin requirements”
Diego Labat on policy normalisation, capital flows and tech challenges
Uruguay governor speaks about financialisation, flexible rates vs controls, payment upgrades and CBDCs
Firms must improve liquidity safeguards – BoE’s Cunliffe
March 2020 “dash for cash” shows need for better margining practices, deputy governor says
BIS paper challenges standard theories of term structure
“Expectation errors”, not term premia, create biased predictions of short-term rate – researchers