Financial crisis
IMF has no back-up plan to Fed swap lines
Financial counsellor says no plans in the works for emergency dollar funding backstop
The IMF should adopt a ‘real SDR’
A vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
IMF’s financial counsellor talks about efforts for the fund to craft well-targeted policy guidance
Central banks need better crypto asset data to contain risk – ECB research
Links between crypto assets and regulated financial sector may increase and challenge regulatory frameworks
IMF extends deadline to implement increase in quotas
Executive board allows members to consent to and increase their contributions until December 27, 2019
The great wave: global liquidity in a turbulent world
Global imbalances are growing, and it is unclear whether the world’s institutions have enough firepower to respond to a crisis, writes Daniel Hinge
Book notes: Shadow networks, by Francisco Louçã and Michael Ash
While not all central bankers will read this book, the problems it presents should not be left to politicians to solve
Raising CCyBs could have ‘greatly mitigated’ 2008 crisis – St Louis Fed paper
Policy-makers could have avoided a fall in aggregate consumption of 21%, researcher finds
Canadian collateral can withstand crisis-level systemic risk – BoC paper
Trading by bank customers could be a potential indicator of future crisis, researcher says
Lagarde resigns as IMF managing director
Selection process to find successor will start “promptly”, IMF says
Macro-prudential analysis is not fit for task – leading economists
Carney and Honohan warn of fund failures and Hélène Rey calls for better risk indicators
Bank of Tanzania removes CEO of state-owned TIB Bank
The IMF has flagged the high levels of non-performing loans in the banking sector
Local policy impact can be dispersed in currency unions – Bank of Spain research
Study analyses effect of large post-crisis fiscal stimulus implemented in Spain
Bulgaria a case study in effective prudential policy – BIS’s Carstens
Country was early adopter of macro-prudential policy, which helped manage capital flows, Carstens says
Bank of Spain paper examines post-crisis US bond markets
Volatility is less persistent but more frequent than before global financial crisis, researchers find
ECB needs liquidity powers for bank resolution – Spanish governor
De Cos stresses mechanism must include guarantees to repay public money
BIS papers weigh up ongoing risks to global stability
Papers from 2018 AGM include contributions from Forbes, Tucker, Gourinchas and Rey
Sovereign debt restructuring does not hamper returns long-term – IMF paper
Investors who sell during crises fare much worse than those who buy and hold
Doves vs hawks: IMF advice on unconventional monetary policy
Funds’ advice on innovative measures has not always “stood the test of time”, writes Philip Turner
ECB welcomes Cypriot state’s rethink on central bank law
Law allows recapitalisation of central bank if necessary and clarifies powers to dismiss directors
Israel could be vulnerable to global shock – central bank
Worsening liquidity conditions in local markets could amplify a global crisis, Bank of Israel says
Large US banks pass Fed’s second round of stress tests
Fed approves capital plans of 17 of largest banks, which now can increase dividend payments and share buybacks
Switzerland should tighten macropudential policies – IMF directors
Authorities should strengthen financial regulator and address real estate risks, IMF chiefs say
Spanish and Italian labour markets still slack – ECB paper
Researchers use "Beveridge curve" to gauge efficiency of eurozone labour markets