US dollar
CLS proposes second-tier FX settlement system
Stripped-back system for EM currencies mooted to tackle rising settlement risk
Structural changes may increase dollar funding strains – IMF paper
Some emerging markets still face “significant funding pressure”, researchers find
Chile and China expand bilateral swap line
Central banks more than double size of swap line and expand scope of use
IMF research highlights limits of exchange rate flexibility
New dataset sheds light on role of dominant-currency invoicing for exchange rate dynamics
Covid-19 boosts gold’s appeal among reserve managers
Central banks say gold helps replace negative-yielding sovereign bonds
Chinese banks’ dollar needs are large but unclear – BIS research
Swap lines meet most banks’ dollar needs, but firms may still struggle to access dollars, authors warn
CBDC can boost de-dollarisation and inclusion – Cambodia
Cambodia’s central bank says its quasi-CBDC network can promote use of local currency
ECB offers euros to non-eurozone central banks
Eurep facility aims to reduce international risks spilling over to eurozone, ECB says
CGFS report offers policy advice for coping with dollar funding strains
BIS committee gives advice amid “major changes” in the structure of global dollar funding markets
Israeli governor reflects on response to Covid-19
Bank of Israel started government bond purchases and dollar-shekel swaps to boost liquidity
Appetite for renewed Fed dollar swap lines in doubt
With up to $300bn of positions nearing expiry, some say FX swap market can meet banks’ funding needs
Euro carves out role as currency of choice for green finance
ECB report finds overall internationalisation of the currency was “stable” in 2019
Chilean central bank requests access to NY Fed’s repo facility
Central Bank of Chile also seeks to expand renminbi swap line with PBoC
Central banking enters a new era
‘Monetary financing’ and ‘buyer of last resort’ traps lie in wait
Stress levels rising: investment funds and the Covid-19 shock
Extreme market stresses are underscoring central role non-banks play in crisis contagion
The complex art of reserve management
Lockdown represents another inflection point for central banks managing $12 trillion in FX reserves
Swedish financial stability risks rising, Riksbank says
Without new policy measures, banks’ losses may hamper credit supply, Riksbank warns
Qatar bolsters Turkey’s shrinking reserves
Agreement sees Qatar add $10 billion to Turkey’s reserves via swap agreement
Podcast: Financial innovation and stability in the US
Atlanta Fed’s Larry Wall discusses stablecoins, reserve currencies and credit loss accounting
Bank of Israel reserves rise by 5.6% in April
Government transfers from abroad boost central bank’s reserves portfolio by almost $6.5 billion
US MMFs transmitted Covid-19 stress to banks – BIS research
Banks outside the “epicentre” of the dollar squeeze still felt the effects, researchers say
Zimbabwean central bank cuts rates and attempts currency controls
RBZ loosens policy as IMF predicts massive contraction in GDP for already-weakened country
Is SDR issuance the best way to support low-income economies?
Economists and policy-makers are increasingly discussing SDRs as way to boost liquidity in Covid-19 fight
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high